An anti-mining lobby group says Newmont Waihi Gold wants to develop an open pit mine near Whangamata.
Coromandel Watchdog believes documents published by exploration company Glass Earth Gold point to Newmont's intentions for a new, low-grade open cast operation.
Five months ago, Glass Earth told investors it was targeting a major new deposit in the style of Martha Hill mine in Waihi.
Last week, it confirmed drilling at Wharekiriponga, saying the epithermal system there has similar characteristics.
Coromandel Watchdog contends Newmont is targeting open pit mining for the Wentworth and Parakawai valleys, as the Government signals it is prepared to allow mining of conservation estate land.
But Newmont says it is only interested in mining underground and has no secret plans.