Wagyu Drilling Yields 15.6g/t Gold Intercept, RC Drilling Set for March

Exploration Breakthrough at Wagyu

New Age Exploration Limited (ASX: NAE) has released assay results from resampling of its Phase 2 air core drilling at the Wagyu Gold Project, located in the Central Pilbara region of Western Australia. The results reveal a substantial increase in significant gold intercepts, now totalling 16 across 14 drillholes, with standout grades reaching up to 15.6 grams per tonne (g/t) over one metre.

The highlight intercept comes from drillhole 24WA225, which returned a 7-metre mineralised zone averaging 3.07g/t gold starting at 49 metres downhole, including a high-grade 1 metre interval of 15.56g/t. This intercept lies within intermediate intrusive rock, a geological setting that mirrors the nearby world-class Hemi Gold deposit owned by De Grey Mining (ASX: DEG), which contains an estimated 11.2 million ounces of gold.

Strategic Location and Geological Context

The Wagyu Gold Project is strategically positioned approximately 9 kilometres from De Grey Mining’s Hemi deposit, within the same mineralised corridor that is rapidly emerging as a Tier 1 gold province. The project area features multiple gravity geophysics targets interpreted as intrusive igneous systems, which have been systematically tested through air core drilling phases.

Drilling to date has identified a 'sickle-shaped' zone of gold mineralisation extending over 800 metres, encompassing multiple gravity targets. The presence of intermediate intrusive rocks and multiple mineralised zones near surface reinforces the geological analogy to Hemi, suggesting Wagyu could evolve into a significant gold discovery.

Next Steps: RC Drilling and Enhanced Targeting

With recent heritage surveys expanding ground access, New Age Exploration is set to commence a 3,000-metre Reverse Circulation (RC) drilling program in March 2025. This campaign aims to test the depth extensions of the high-grade zones identified in the air core drilling and to evaluate new high-priority targets generated from the resampling results.

The company is also integrating multi-element geochemistry and geophysical data to refine its understanding of mineralisation controls at Wagyu. This systematic approach is designed to accelerate progress towards defining a mineral resource estimate.

Quality Assurance and Data Integrity

New Age Exploration has implemented rigorous quality assurance and quality control (QAQC) protocols throughout its drilling and sampling programs. Independent reviews and laboratory checks support the reliability of the assay data, including the high-grade gold results from the resampled single-metre intervals.

While air core drilling has inherent limitations in sample representivity, the consistency of results across multiple drillholes and the validation through resampling provide confidence in the emerging gold mineralisation footprint.

Implications for the Pilbara Gold Landscape

The Wagyu Project’s promising early-stage results add a compelling new chapter to the Pilbara’s gold exploration narrative. Its proximity to De Grey Mining’s Hemi deposit and the geological similarities suggest that Wagyu could become a significant contributor to the region’s gold endowment.

As New Age Exploration advances into deeper drilling phases, the market will be watching closely for confirmation of continuity and scale that could underpin a future resource development.