A third test drilling programme for gold is to begin after "highly encouraging" gold assay results from Ophir Gold's second drilling programme near Omakau, in Central Otago.
The recently drilled Wai-iti gold prospect is one of nine prospects within junior explorer Ophir Gold's 650ha tenement near Omakau, its second yearof work under a five-year prospecting permit.
Ophir Gold's first $400,000, 18-hole programme was followed by a second 17-hole three-week drilling programme which finished late in May.
Results from the 17 test holes ranged from 1.05 grammes of gold per tonne (g/t) through to 14.80 g/t - the average over several metres of the drilling intersections.
Senior project geologist John Scott said the drill intersections at Wai-iti indicated "substantial exploration potential within the entire project area." He set aside recent reports an initial public offering (IPO) to float the company to raise exploration and development capital was going ahead.
Scott said tenders were being sought for the next four-week drilling programme, which would be completed before the end of the year.
Ophir Gold has all the permissions, resource consent and permits required to go into full operation.
