NewPeak owns a 75% stake in the Cap Burn Gold Project through an earn-in joint venture with MRJV (Mineral Rangahau Joint Venture). NewPeak also has 100% ownership in several other Gold properties, between OceanaGold’s Macraes Mine in the east, and the Santana-Matakanui Bendigo-Ophir project in the west. 

Macraes Mine is an open pit and underground mine which has produced 5 million ounces since 1990 and 172,475 ounces in 2019 with JORC Measured and Indicated resources of 3.5 million ounces Gold. It lies along 10km of the 30km long Hyde-Macraes Shear Zone, and Cap Burn Gold Project lies on probable extensions of the Hyde-Macraes Shear Zone. Cap Burn is the most advanced target of NewPeak’s Otago Gold Properties. 

 A Maiden drilling program at Cap Burn was completed to test the main large, mineralised surface anomaly within the project’s East Block and multiple anomalies on the West Block.

 Soil sampling to date indicates anomalous Gold, Arsenic and Antimony in texture IV schist over 2-3km2. Gold mineralisation of the Eastern Block is interpreted to be similar to that occurring at the Macraes Mine because of the sampled quartz float which has returned grades up to 1.74g/t Gold. The foliation in the anomalous area has a similar strike and dip as the shear zone hosting the Macraes Mine.

The Cap Burn Western Block hosts Gold mineralisation typical of that found in the brittle rock fracture lodes arising after rock metamorphism in the texture IV schist. Soil sampling to date has identified anomalous Gold, Arsenic and Antimony over a 3km2 area. Of the 20 analysed quartz vein float, 19 returned anomalous Gold (>0.1 g/t Gold) with three of these returned values between 1 and 2 g/t Gold. Historical rock samples have returned values of up to 3.25g/t Gold.