New Age Exploration Advances Wagyu Gold Project with Significant Drilling Initiatives

2 min read | February 27, 2025 11:00 AM AEDT | By Team Kalkine Media

New Age Exploration Advances Wagyu Gold Project with Significant Drilling Initiatives — Image source: Shutterstock

Strategic Placement and Resource Allocation

The recent share placement, which issued 400 million fully paid shares at a discounted price, underscores substantial investor confidence. These funds will facilitate fast-tracked exploration initiatives at the Wagyu gold project, aligning with New Age Exploration’s strategic growth objectives in the Central Pilbara region.

Drilling Programs and Geological Insights

Previous Phase 1 and 2 aircore drilling have confirmed multiple gold intercepts, unveiling the geological potential reflective of the Hemi deposit. The structured approach to the next phase includes a comprehensive 3000m RC drilling program, alongside ongoing geological assessments and further aircore drilling slated for the second quarter.

Progress in Drilling Efforts

The project’s momentum is further illustrated by the re-sampling of drilling results, which highlighted 16 significant intercepts. Notably, a 7m zone intersected significant gold mineralization, offering an enriched 2m section at 9.3 g/t gold, indicative of the promising potential of this site.

The upcoming Phase 3 drilling represents a crucial juncture for Wagyu's development. With deeper insights expected, this phase sets the stage for assessing the scale and economic feasibility of the project. The similarities identified with De Grey Mining’s Hemi deposit present a promising outlook for New Age Exploration’s initiatives under the ASX:NAE ticker.

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