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Highlights:
Exploration drilling progresses at the Wagyu project in the Pilbara region, aiming to expand gold mineralisation.
Capital supports continued drilling and geological assessments.
Appointment of Peter Thompson as chief geologist strengthens technical leadership.
New Age Exploration (ASX:NAE) continues to advance its exploration program at the Wagyu project, located in Western Australia's Pilbara region. The ongoing reverse circulation drilling program covers a broad scope, with drilling activities focusing on key targets. The initial phase has been completed at one site, and the drilling rig has now been mobilised to a secondary location identified for further examination.
The objective of the drilling efforts is to assess mineralisation within solid rock formations beneath previously observed oxide mineralisation. This approach aims to refine geological understanding and further delineate gold-bearing zones. Progress at the project reinforces Mining Stock's ongoing commitment to exploration activities in this well-regarded mining region.
Financial Support and Leadership Strengthening
To sustain the drilling initiatives, New Age Exploration has completed a capital raise, securing additional funding. This financial boost enables continued drilling and other geological assessments at Wagyu, aligning with the company's broader exploration strategy.
Further reinforcing its technical expertise, the company has appointed Peter Thompson as chief geologist. Thompson's extensive experience in gold and base metal exploration is expected to provide valuable insight into ongoing and future projects. His role will focus on ensuring effective execution of exploration plans and interpreting geological findings to refine the project's scope.
Geological Exploration and Future Development
The Wagyu project is strategically located near a well-established mining corridor, highlighting its significance within the region. Exploration work has identified multiple gold-bearing zones, which are undergoing further examination through drilling and geological mapping.
New Age Exploration plans to continue its drilling activities at the newly designated site and subsequently expand the scope of exploration work. Additional geological assessments are scheduled, with a focus on enhancing mineralogical understanding. The company is also preparing for further drilling activities in the coming months, aiming to extend coverage and refine exploration targets within the area.
Analysis of drill results is expected to provide critical geological insights, shaping future work programs. The exploration approach remains focused on structured assessments to advance understanding of mineralisation trends within this resource-rich corridor.
