New Age Exploration is drilling five high-priority targets to extend gold mineralisation at its Wagyu project. Pic: Getty Images
New Age’s drilling targets Wagyu gold mineralisation extensions
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- New Age Exploration starts maiden 3000m RC drill program to extend Wagyu gold mineralisation
- Program to test five high-priority gravity targets on the eastern side of the project area
- Drilling to be completed in four weeks with assays expected in late April to May 2025
Special Report: New Age Exploration has kicked off a maiden 3000m reverse circulation drill program at its Wagyu gold project in WA’s Pilbara region, to extend gold mineralisation along strike and at depth.
The RC drilling will test for primary mineralisation in fresh rock below and adjacent to oxide mineralisation identified in late 2024. Previous aircore drilling had only drilled to the top of fresh rock.
New Age Exploration (ASX:NAE) also expects the drill program to better outline the boundaries, nature, and extent of mineralised intrusions identified from geophysics and aircore drilling that had returned results of up to 15.6g/t gold.
Earlier this month, the company built up its inventory of gold targets at Wagyu, which is adjacent to De Grey Mining’s (ASX:DEG) major, play-opening Hemi project in WA’s Pilbara region.
Highlighting its confidence in the potential of this drilling to deliver significant results, the drill contractor Strike Drilling has agreed to take 50% of the payment in NAE shares.
“The commencement of RC drilling marks an important milestone in advancing the Wagyu gold project,” executive director Joshua Wellisch said.
“The support of Strike Drilling, who has agreed to take 50% of their payment in equity, is a strong endorsement of the project’s potential.
“We are eager to test these high-priority targets and further define the extent of gold mineralisation.”
Drill program
The 3000m RC drill program represents the next step of the company’s exploration strategy at Wagyu, which seeks the kind of intrusion-hosted gold mineralisation that made Hemi such a success.
It will test five high-priority gravity targets on the eastern side of the project area with particular emphasis on Gravity Targets 1 & 10 to follow-up on significant gold mineralisation identified in aircore drilling.
RC drilling is scheduled for completion within four weeks with assays expected between late April and May 2025.
NAE also plans to carry out further aircore drilling in Q2 2025 to further expand reconnaissance coverage.
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.
