- Intrusive gold targets akin to the ‘Hemi style’ identified at Wagyu
- On-ground exploration initiated, including gravity and passive seismic surveys
- Wagyu adjacent to De Grey Mining’s gold deposits
- Program of work submitted for AC drilling, with plans for RC drilling to follow
Special Report: New Age Exploration has kickstarted its quest for gold at its new Wagyu gold project in WA’s Central Pilbara, where promising intrusive and structural targets akin to the nearby ‘Hemi style’ gold deposit have been identified.
The newly acquired project is in a gold-rich region where De Grey Mining’s (ASX: DEG) world-class 10.5Moz Hemi gold deposit lies, and following an extensive review of geophysical data, New Age Exploration (ASX: NAE) has locked eyes on several ‘Hemi style’ intrusive and structural gold targets at Wagyu.
NAE reckons it’s been eyeing the project for quite some time and obtaining the tenure is a “transformative” acquisition for the explorer – and with gold prices at record highs over $3,700/oz, it’s the right time to be looking for deposits of the shiny stuff.
Exploration underway
Following a thorough review of geophysical data, the company has launched on-ground exploration efforts to hone in on priority drill sites at Wagyu.
It’s kicked off gravity and passive seismic surveys, soil sampling to refine drilling targets and a program of work for AC drilling has been submitted, paving the way for upcoming RC drill campaigns at identified target areas.
Gravity surveys will be used to determine the extents of intrusive targets and hopefully generate additional targets, while passive seismic surveys will aid in understanding the depth of cover and may also show other subterranean futures of interest in gold exploration.
“The venture represents an exceptional opportunity for gold exploration, situated directly along strike from Hemi – the largest gold discovery in the Pilbara region,” NAE exec director Joshua Wellisch says.
“This acquisition significantly enhances our Pilbara footprint and aligns with our strategy of securing the most promising exploration tenure in the Central Pilbara.”
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.