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Highlights:
- Resampling has enhanced the number of significant gold intercepts at the Wagyu Project.
- Upcoming RC drilling aims to extend known mineralised zones and test new targets.
- A heritage survey enables expanded drilling access at Wagyu.
New Age Exploration (ASX:NAE) has announced an increase in the number of significant gold intercepts following the resampling of Phase 2 aircore drilling at its Wagyu project, located in Western Australia's Pilbara region. This development underscores the project's potential as part of a gold mineralised system.
The resampling exercise, which included 1-meter resamples, revealed up to 16 significant intercepts. Several drilling holes displayed multiple zones of mineralisation, including a top intercept of 4 meters at 5.3 grams per ton (g/t) of gold from a down-hole depth of 49 meters. This includes a notable 1 meter intercept of 15.6 g/t gold in hole 24WA225.
The Wagyu project is strategically positioned within the same mineralised trend as De Grey Mining’s (ASX:DEG) Hemi corridor, and is situated less than 9 kilometers from the substantial 11.2 million ounce Hemi gold deposit. This proximity significantly boosts the project's potential, providing a strong strategic advantage.
New Age Exploration is poised to commence reverse circulation (RC) drilling in March 2025. The upcoming drilling campaign will focus on deepening the understanding of established mineralised zones and exploring new high-priority targets revealed through recent resampling efforts. The incorporation of multi-element geochemistry aims to enhance the comprehension of controls on gold mineralisation at Wagyu.
The company has successfully completed a heritage survey, which facilitated access to additional ground at Wagyu, allowing for an expansion of known areas of mineralisation. The forthcoming RC drill program will cover a total of 3000 meters, and additional aircore drilling is scheduled for the June quarter to further explore Wagyu’s full potential.
This progress marks a pivotal step in advancing the Wagyu project towards its mineral resource estimation, reflecting a systematic and results-oriented approach. With significant groundwork laid, the anticipated activities aim to unlock further value from the region's rich gold deposits.
This article was developed in collaboration with New Age Exploration, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice; independent advice should be considered for financial decisions.
