New Age kicks off drilling at Hemi-style gold target at Wagyu

New Age Exploration starts aircore drilling at closely watched Wagyu gold project
Located halfway between De Grey’s 10.5Moz Hemi and 600,000oz Withnell, high priority targets include Hemi style intrusives
Results to flow in coming months

Special Report: New Age Exploration has started aircore drilling at its Wagyu gold project in WA’s Pilbara region, the next key step in its six-month exploration campaign.

Wagyu is in the same gold-rich region as De Grey Mining’s (ASX:DEG) district defining Hemi gold deposit, which has a major resource of 10.5Moz of gold and very attractive economics.

It sits halfway between Hemi and De Grey’s (ASX:DEG) 600,000oz Withnell deposit, which is being eyed as the potential site of a second regional concentrator alongside the main Hemi plant.

New Age Exploration’s (ASX:NAE) latest drilling follows a successful cultural heritage survey and will test high priority targets – including a Hemi-style intrusive gold target – that were identified through the use of newly acquired airborne magnetic survey data, combined with ground gravity geophysics and a passive seismic survey used in identification of targets.

Further drilling planned for October

The company’s six-month exploration program includes this maiden air core drill program, followed by a reverse circulation drilling program planned for October and November.

“We are excited to begin our drilling program at the Wagyu gold project,” executive director Joshua Wellisch said.

“The recent acquisition of high resolution airborne magnetic data has significantly refined our high-priority targets, including identifying a ‘Hemi-Style’ intrusive gold target.

“With the cultural heritage survey completed, we are looking forward to receiving results from the drilling in the coming months and further exploring the potential of this highly prospective project.”

The results from the AC and RC drilling will be crucial in further understanding the potential of the project and planning subsequent exploration activities.

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.