Heritage to step up search for gold

Dual-listed junior gold explorer Heritage Gold is preparing to step up its North Island exploration programme.

Although it reported a $2.6 million loss for the year to March, managing director Peter Atkinson said it was a result of exploration programmes in the Waihi area.

Most of the work centred on the Talisman mine but test drilling was also carried out in some other areas.

He expects to be able to make an announcement to the market in the next few weeks.

Atkinson also heads up private company Prophecy Mining, which has gold permits adjacent to Oceana Gold's Macraes mine in east Otago, where exploration is continuing.