Explorer Glass Earth says it has found "encouraging" signs of gold on the fringe of kiwifruit country south of Te Puke.
The company is part way through a $1 million drilling campaign on private land about 10km from the Bay of Plenty town.
Chief executive Simon Henderson said results from two holes had been assessed since exploration had been aggressively stepped up late last year.
It intended to drill in up to 20 places over a 2000ha to 3000ha area during the next few months.
High-grade signs were found near the surface.
