Uvre to acquire highly prospective Gold Exploration Projects in New Zealand

Critical minerals explorer Uvre Ltd (ASX:UVA) is set to take a deep dive into precious metals, acquiring a portfolio of highly prospective gold projects in New Zealand and welcoming 2 noted mining entrepreneurs to its board.

The company has signed a binding agreement which will see it take on all shares in Minerals Exploration Ltd (MEL), whose subsidiary – Otagold Ltd – controls a suite of projects comprising 3 exploration permits stretching across 332 square kilometres. Chief among these assets is the Waitekauri gold project, located 8km west of OceanaGold Corporation’s 10-million-ounce Waihi gold mine (10Moz) in the country’s North Island.

This location is enticing in other ways, with 3 additional gold deposits hosting more than 1 million ounces being adjacent to Waitekauri. Adding to this, multiple drilling targets have already been identified at the project, where gold and silver were previously mined at 48 grams per tonne.