New Tasman Goldfields company exploring in Otago and Southland

The Australian company with precious metal projects in Queensland, New South Wales and Papua New Guinea as well as New Zealand has been put together by Geoff Checketts, an Invercargill-based financial adviser who is managing director of the company and a substantial shareholder.

The Otago holdings of Tasman Goldfields include an exploration permit (EP 40 794) for the historic Bullendale gold mine at Skippers near Queenstown and the Gentle Annie prospecting permit (PP 39 316). Additional ground north of Queenstown has also been applied for.

Tasman Goldfields also has substantial interests in five exploration permits and two prospecting permits on and around the Longwood Range in western Southland where it is seeking mesothermal gold. Mr Checketts said the company is planning to drill within the next 12 months a hydrothermal breccia and two quartz reef targets in its Longwood Range permits.

Five of the Longwoods permits are held by Southwest Exploration Ltd in which Mr Checketts is a joint 50% shareholder with geologist Phil Ford. Southwest Exploration has been carrying out exploration in the little explored Longwood Range for a number of years and will be a 10% partner with Tasman Goldfields, a 90% partner in the five Southwest permits.

Southwest Exploration was recently granted three new exploration permits in the Longwoods region: the 1076 hectare EP 40 854, the 280 ha EP 40 853 on the southwest corner of the range near Orepuki and the 2244 ha EP 40 852 on the southeast corner near Riverton.

Late last year Southwest was also granted the 137 hectare EP 40 567 near Merrivale between Otautau and Tuatapere. Southwest previously undertook some drilling in the 503 hectare EP 40 568 in the Pourakino Valley which confirmed the anomalous nature of the quartz structures.

Tasman's initial priority will be to advance the East Longwoods prospect to drill ready status. Geochemical sampling has previously outlined an area that should be drilled at Merrivale.

A Tasman Goldfields subsidiary Tasman Goldfields Longwoods Ltd was also recently granted the 70 square kilometres Prospecting Permit 39 342 over the northeastern end of the Longwoods, as well as acquiring from PFN New Zealand Ltd the 8100 hectare EP 40 610 on the southeastern slopes of the range.

Mr Checketts said that in Tasman’s Otago prospects the Bullendale mine at Skippers produced approximately 40,000 oz of gold from 9 mining levels. More than 3 kilometres of underground drives, cross cuts and inclines were developed during mining and exploration activity from 1863. The mineralised zone consists of three roughly parallel quartz reefs.

He said mine production records from an 1896 document indicated gold yield was an average of 37 g/t.

Mr Checketts said Tasman Goldfields have raised over A$500,000 from Australian and New Zealand investors prior to the company seeking listing. He said one of the major shareholders was Australian mineral investment company Lion Selection Ltd.

Source: Tasman Goldfields