Highlights

  • New Age Exploration shares rose 33.33% to AUD 0.0020 on 26 May 2026.
  • Phase 2 drilling at the Lammerlaw Gold-Antimony Project in New Zealand is nearing completion.
  • Approximately 800 metres of RC and diamond drilling had been completed as at 24 May 2026.
  • Diamond drill holes intersected the targeted shear zone structure near previous hole LAM RC13.
  • ssay results are expected progressively during Q2 2026.
  • Lammerlaw represents New Age Exploration’s follow-up program to its 2025 maiden drilling campaign.

New Age Exploration Ltd (ASX:NAE) shares climbed 33.33% to AUD 0.0020 during the afternoon session on 26 May 2026 after the company provided an operational update on its Phase 2 drilling campaign at the Lammerlaw Gold-Antimony Project in New Zealand.

The update outlined continued drilling progress at the Otago-based project, where the company is targeting gold-antimony mineralisation associated with shear zone structures identified during earlier exploration work. Management confirmed that the resumed drilling program is advancing toward completion, with assay results expected during the second quarter of 2026.

New Age Exploration is an Australian-based exploration company focused on gold, silver and critical minerals projects across Australia and New Zealand. The company’s portfolio includes the Wagyu Gold Project in Western Australia, the Wallah Silver Project in New South Wales and the Lammerlaw Gold-Antimony Project in New Zealand’s Otago Goldfields region.

Phase 2 Drilling Program Approaches Completion

According to the company, the current Phase 2 drilling campaign at Lammerlaw has resumed following an earlier operational pause and is now nearing completion.

As at 24 May 2026, New Age Exploration had completed a total of 786.8 metres of drilling across the program. This included 640.1 metres of reverse circulation (RC) drilling alongside 146.7 metres of diamond core drilling, which comprised two diamond core holes and one diamond tail extension.

The company stated that the drilling campaign remains on track to achieve its planned 1,050-metre target, with completion expected within approximately one week, subject to weather and ground conditions.

Management noted that drilling activities had previously been paused after the completion of eight RC holes totalling 554 metres, as outlined in the company’s March 2026 quarterly activities report. The drilling rig has since recommenced operations, with the company reporting favourable ongoing progress.

The Phase 2 program represents the company’s first systematic follow-up campaign after encouraging results from its maiden drilling activities completed during 2025.

Follow-Up Work Targets Earlier Mineralised Intersections

A key focus of the latest drilling campaign is the follow-up assessment of mineralisation intersected during the Phase 1 program completed in 2025.

The earlier campaign consisted of five drill holes totalling 458 metres and successfully intersected gold mineralisation within fresh basement schist beneath shallow cover.

The most significant result from that maiden campaign came from drill hole LAM RC13, which returned an intercept of 6 metres grading 0.65 grams per tonne gold from 92 metres, including 2 metres grading 1.05g/t gold.

The company also reported elevated tungsten and arsenic associated with the intersection, which management stated is consistent with Macraes-style orogenic mineralisation systems.

Phase 2 drilling has specifically targeted the shear zone mineralisation surrounding the LAM RC13 area, which was identified as a priority exploration target following the earlier results.

According to New Age Exploration, the recently completed diamond core holes successfully intersected the targeted shear zone structure.

Visible Sulphides and Quartz Veining Logged

The latest update also highlighted geological observations recorded during drilling activities.

The company reported that both diamond and RC drill holes intersected the targeted shear structure, with visible sulphides and quartz veining identified in several holes.

Among the sulphide minerals logged were arsenopyrite and pyrite, both commonly associated with certain gold-bearing systems.

New Age Exploration stated that these observations are visual only and should not be interpreted as confirmation of mineral grades or economic mineralisation until laboratory assay results are received.

However, the company noted that the geological textures and mineral assemblages observed are considered consistent with the style of orogenic gold mineralisation targeted at the Lammerlaw project.

Management also reiterated that references to the Macraes gold system are intended solely for geological comparison purposes and should not be interpreted as an indication that Lammerlaw will host a deposit of similar scale or economic characteristics.

Assay Results Expected During Q2 2026

With drilling activities nearing completion, investor attention is now likely to shift toward the pending assay results from the Phase 2 campaign.

New Age Exploration stated that samples will be submitted progressively for laboratory analysis, with assay results expected to be released during Q2 2026.

The company also confirmed that geological interpretation work will continue alongside assay processing as it evaluates and prioritises future drill targets across the Lammerlaw project area.

Exploration programs at early-stage gold projects typically involve multiple phases of geological interpretation, structural analysis and drilling before resource potential can be fully assessed.

The current campaign is intended to provide additional information regarding the continuity and scale of mineralised structures identified during the maiden program.

Lammerlaw Project Remains an Emerging Exploration Focus

The Lammerlaw Gold-Antimony Project forms part of New Age Exploration’s broader strategy to build exposure to gold and critical minerals opportunities across Australasia.

Located within New Zealand’s Otago Goldfields region, the project is targeting gold-antimony mineralisation associated with structurally controlled shear systems.

Antimony has attracted increasing market interest in recent years due to its industrial applications and growing relevance within strategic and critical minerals Supply chains.

At the same time, gold exploration activity within New Zealand’s Otago region continues to attract attention given the district’s established Mining history and geological prospectivity.

The company believes the Lammerlaw project offers exploration upside through systematic follow-up drilling and geological targeting.

Broader Portfolio Includes Gold and Silver Exploration Assets

Outside Lammerlaw, New Age Exploration maintains several additional exploration assets across Australia and New Zealand.

The company’s portfolio includes the Wagyu Gold Project within Western Australia’s Mallina Basin, as well as the Wallah Silver Project in New South Wales.

Management continues to position the company around a diversified exploration strategy focused on precious metals and critical minerals opportunities.

The latest Lammerlaw drilling update represents one of several operational milestones expected across the company’s exploration portfolio during 2026.

Investor Focus Turns to Pending Results

The market reaction following the latest announcement suggests investors are closely monitoring the progression of drilling activities and the upcoming assay results from Lammerlaw.

Early-stage exploration companies often experience increased market attention when drilling campaigns identify targeted geological structures or visual mineralisation indicators.

However, laboratory assay results remain an important step in determining the grade, continuity and significance of any mineralised intervals intersected during drilling.

With approximately 800 metres completed and final drilling expected shortly, upcoming assay releases are likely to remain a key focus for shareholders and the broader exploration market during the remainder of Q2 2026.

About New Age Exploration

New Age Exploration Limited is an ASX-listed exploration company focused on gold, silver and critical minerals projects across Australia and New Zealand.

The company’s key assets include the Lammerlaw Gold-Antimony Project in New Zealand, the Wagyu Gold Project in Western Australia and the Wallah Silver Project in New South Wales.

New Age Exploration is pursuing exploration activities aimed at identifying and advancing mineral opportunities across multiple commodities and jurisdictions.