- New Age Exploration has applied for two new permits covering 720 square kilometres on the South Island of New Zealand
- The applications complement New Age’s Otago Pioneer Quartz Project which sits in the southern portion of the Otago Schist Belt
- The Manoburn permit is located 20 kilometre southwest of the Rise and Shine discovery and 85 kilometres from OceanaGold’s 10-million-ounce Macraes Gold Mine
- Then the Marlborough permit is part of the Marlborough Schist Belt which is prospective for gold and tungsten
- Once they’re granted, New Age will compile data from the permits to identify potential mineralisation
- Company shares have dropped 10.5 per cent to trade for 1.7 cents
