Resampling has reinforced the potential for New Age’s Wagyu project to host significant gold mineralisation. Pic: Getty Images
New Age Exploration’s Wagyu is tastier than ever with fifth significant gold intercept
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- New Age Exploration’s detailed resampling finds fifth significant gold intersection at Wagyu
- Resampling has also increased number of mineralised gold intercepts, mostly at and around Target 1
- Assays pending for Phase 2 aircore drilling and planning underway for RC drilling to test high-priority targets
Special Report: Detailed 1m resampling of the Phase 1 aircore drilling at New Age Exploration’s Wagyu gold project in WA’s Central Pilbara, has uncovered a fifth significant gold intersection.
Resampling of a previously identified mineralised section of 3m at 0.48g/t gold (hole 24WA054) in composite samples revealed a 1m intersection grading 2.21g/t gold from 32m.
It also further defined a 2m intersection at 1.55g/t gold from a downhole depth of 13m from a previously reported intercept of 4m at 0.93g/t gold from 12m in hole 24WA054.
New Age Exploration (ASX:NAE) adds that the resampling increased the number of mineralised gold intercepts, most of which are located at and around the edges of Gravity Target 1.
Drilling at Wagyu is aimed at defining Hemi-style intrusion-related gold mineralisation within the same trend that hosts De Grey Mining’s (ASX:DEG) play-opening discovery.
Hemi was last estimated to have resources of 255Mt grading 1.3g/t gold, or 10.5Moz of contained gold, in November last year. This clearly highlights the potential riches that might await NAE should its exploration efforts bear fruit.
Results boost confidence in targeting approach
“We are very encouraged by the assay results of the Phase 1 resamples, which reinforce the potential for significant gold mineralisation at Wagyu,” executive director Joshua Wellisch said.
“These findings provide additional confidence in our targeting approach and exploration strategy, and we look forward to the Phase 2 results in the coming weeks.”
Phase 2 aircore drilling had followed-up on the gold intersections at Target 1.
The company is currently planning reverse circulation drilling to assess further high-priority targets and a cultural heritage survey to expand the Wagyu exploration area.
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.
