Scientists say there is a 50/50 chance that Mt Tongariro could erupt at any time.
Volcanologists studying rocks and ash that were thrown up by this week's blast kept a cautious 2km from the mountain's crater.
GNS volcanologist Brad Scott said the main finding was there was no fresh lava, only existing rock.
"It's what you'd expect to see," he said.
"There's still a 50:50 call as to whether it could stay as it is or it could enhance."