New Age Exploration raises $1.75m to kick off 2025 drilling with a bang

New Age Exploration raises $1.75m at 0.5c per share to fund exploration
Company planning RC drilling to follow up ‘Hemi-style’ mineralisation at Wagyu project
Exploration also planned a Lammerlaw gold and antimony project

Special Report: New Age Exploration has raised $1.75m via a placement at 0.5c per share to advance its exploration plans at the Wagyu gold project in WA and the Lammerlaw gold and antimony project in New Zealand.

The Wagyu project adjoins De Grey Mining’s (ASX:DEG) tenure containing its ~10.5Moz Hemi gold deposit, and in recent Phase 1 aircore drilling the company has discovered intermediate igneous intrusive rocks and gold mineralisation similar to that at Hemi.

The placement will fund RC drilling on high-priority gold targets to test for further gold at depth and along strike from this ‘Hemi-Style’ mineralisation.

In addition, assays are pending from Phase 2 aircore drilling at the project, with results and interpretation expected by mid-November.

At the Lammerlaw permit in New Zealand, the company has defined 9 high-priority gold, antimony and tungsten drill targets with the placement to fund drilling in Q1 2025.

Notably, previous mining in the area produced ~150t of high-grade stibnite (over 50% antimony) and included gold grades of 2oz/t.

Funding the next phase of exploration

“Securing $1.75 million in funding is a significant milestone for NAE and demonstrates strong investor confidence in the potential of the Wagyu gold project and Lammerlaw gold and antimony project in New Zealand,” New Age Exploration (ASX:NAE) executive director Joshua Wellisch said.

“These funds will allow us to continue exploration activities in the highly prospective Central Pilbara region, home to some of Australia’s most exciting recent gold discoveries.

“With the successful completion of Phase 1 drilling and Phase 2 results expected soon, we are well positioned to continue advancing the project and highly leveraged to exploration success.

“Additionally, our focus on the high-priority drill targets of gold, antimony, and tungsten anomalies at Lammerlaw puts us on track for an exciting start to 2025.

“We look forward to the next phase of exploration as we work to unlock the full potential of Wagyu and Lammerlaw.”

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.