New Age Exploration expands on Hemi-style gold potential at Pilbara project

New Age Exploration’s Phase 2 drilling expands on prospective Hemi-style intrusions at Wagyu
The project adjoins De Grey Mining’s 10.5Moz Hemi gold discovery
Assays are expected by mid-November

Special Report: New Age Exploration’s Phase 2 drilling at its Wagyu gold project in WA has expanded the known locations of sulphide-rich intermediate intrusive rocks – similar to the nearby Hemi discovery – and coincident with the gold mineralisation already seen in Phase 1 aircore drilling.

The project adjoins De Grey Mining’s (ASX:DEG) ~10.5Moz Hemi gold deposit, and the company says the style of lithology found is ‘highly encouraging’ as the relationship between intermediate intrusive rocks and gold mineralisation is similar to that established at Hemi.

Based on preliminary field logs and observations, the team remains highly optimistic results from Phase 2 drilling will expand the number of gold mineralised intercepts.

Assays from Phase 2 are pending, however Phase 1 included significant intercepts of:

3m at 2.2g/t gold from 24m down hole
1m at 1.5g/t gold from 39m down hole
1m at 1.3g/t gold from 52m down hole; and
4m at 0.9g/t gold from 12m down hole.

On the hunt for another Hemi

New Age Exploration (ASX:NAE) is confident the Wagyu project represents a highly prospective gold opportunity ~9km within the same mineralised trend as Hemi.

“The Phase 2 drilling campaign has continued to deliver exciting results at the Wagyu gold project,” executive director Joshua Wellisch said.

“The geological observations from both phases of drilling are consistent and give us strong confidence in the potential for further significant gold mineralisation at Wagyu related to ‘Hemi Style’ intrusive geology.

“The Hemi gold discovery had reverse circulation drilling intersections around the 2g/t gold level, below aircore drilling intersections as low as 0.2g/t gold.

“We eagerly await the assay results, which we expect to be delivered by mid-November.”

Looking forward

The assay results will guide the planning for swift follow-up RC drilling to test high priority locations at depth and along strike of the known gold mineralisation.

“The team remains focused on further refining our understanding of the intrusive systems identified and advancing towards RC drilling to assess the gold mineralisation at depth and along strike,” Wellisch said.

“NAE is highly leveraged to exploration success at the current market capitalisation.”

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. You should consider obtaining independent advice before making any financial decisions.