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Uvre Ltd. ( (AU:MEX) ) has provided an announcement.
Minerals Exploration Ltd. has reported high-grade rock chip assays of up to 49.7 grams per tonne gold from surface dump sampling at the historic Invincible Gold Mine in New Zealand’s Otago Goldfields. The project area, which includes both the Invincible Gold Mine and the Glenorchy Tungsten Mine, is considered prospective for orogenic gold and tungsten, both listed as critical minerals in New Zealand.
The company’s technical team notes that the Invincible Gold Project shares key structural and geological features with major regional deposits, including OceanaGold’s Macraes mine and Santana Minerals’ Bendigo-Ophir deposit, suggesting potential for bulk-tonnage mineralisation with high-grade zones. On the back of the strong assay results and absence of prior modern drilling, Minerals Exploration plans new field programs, including stream and soil sampling, ahead of an inaugural drilling campaign that could materially advance understanding of the project’s scale and economic potential.
The most recent analyst rating on (AU:MEX) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Uvre Ltd. stock, see the AU:MEX Stock Forecast page.
More about Uvre Ltd.
Minerals Exploration Ltd. is an Australia- and New Zealand-listed mineral exploration company focused on gold and tungsten. Its portfolio includes the Invincible Gold Project in New Zealand’s Otago Goldfields, a 164.3 sq km permit area that hosts historic high-grade gold and tungsten workings considered prospective for orogenic mineralisation.
Average Trading Volume: 269,588
Technical Sentiment Signal: Hold
Learn more about MEX stock on TipRanks’ Stock Analysis page.