The inertia continues for what is seen as one of New Zealand’s promising epithermal gold targets.
The annual report for FY18 for E2 Metals Ltd (ASX: E2M) indicated that long-awaited exploration by the Melbourne-based explorer was unlikely to have an immediate change.
E2 Metals holds the Neavesville exploration permit in the Hauraki goldfield of the North Island which the company described as an epithermal gold-silver mineralised camp.
After taking up the area about two years ago the company indicated some drill indicated targets but then said it was unable to undertake any drilling because of then access issues created by storm conditions.
The latest annual report said that in FY18 the company “successfully” obtained extensions of obligations for the exploration permit, and these obligations are now due in April, 2020.
E2 Metals said Neavesville has an established mineral resource with three principal targets – Neavesville, Oneura and Chelmsford.
Historic production took place at Neavesville between 1875 and-1940.