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| NewPeak Metals Tansey gold project |
NewPeak Metals has appointed Associated Exploration Drillers to begin drilling at its Tansey gold project in Queensland, Australia. The drilling program, set to begin in January 2026, is expected to last about three weeks, after which samples will be sent for assaying. This marks a significant step in NewPeak’s strategy to explore and potentially extend gold reserves in the region.
Focus on Expanding Historic Gold Mine
The drilling will take place near the historic South Burnett gold mine, which was abandoned in the 1940s after reaching depths of over 80 meters. NewPeak plans to drill two angled holes to explore depth extensions of the old workings, along with two additional holes to extend the strike of the deposit at depth. The program is part of the company’s strategy to tap into the underexplored potential of the area and revitalize historic mining prospects.
The drilling program will span approximately 1,100 meters across four HQ diamond drill holes. This program is funded through NewPeak’s existing cash resources, ensuring that the exploration initiative will proceed without external financing.
Expanding Exploration Interests in Queensland
The Tansey gold project is held by Goldstrike Mining, a subsidiary of NewPeak, under the EPM 26368 permit, which covers approximately 12 square kilometers. The project is located about 60 km west-northwest of Gympie, Queensland, and includes several other historic gold mining sites, including South Burnett.
In addition to the Tansey gold drilling program, NewPeak, through its subsidiary Dorado Metals, has applied for two new tenements adjacent to the EPM 26368 area. These include EPMA 29270 Tanjan and EPMA 29269 Grongah, which will further enhance NewPeak’s position in the gold exploration space. The newly acquired permits expand NewPeak’s reach to cover land with potential for both copper and gold mineralization, especially in proximity to ActiveX’s Booubyjan tenement.
With its recent acquisition of the remaining 49% of the Las Opeñas exploration permits in San Juan Province, Argentina, for $500,000, NewPeak is solidifying its exploration portfolio. However, the company’s cash balance has been reduced to A$2.7 million after the transaction, which could impact future investment plans.
ScrapInsight Commentary
NewPeak Metals' drilling program at the Tansey gold project represents an important step in expanding its exploration activities in Queensland. The proximity to historical gold mines could provide significant insights into the region’s potential for new gold discoveries. While the company’s reduced cash balance post-acquisition may constrain immediate resources, its strategic land acquisitions position it well for long-term growth.
