New Age Exploration Limited reports multiple high-grade gold intercepts from its maiden drilling at the Wagyu Gold Project in Western Australia, while also expanding its footprint in New Zealand’s Otago region and completing a strategic UK asset sale.
- Multiple high-grade gold intercepts at Wagyu Gold Project, including 8m @ 5.0g/t Au
- Lateral and depth extensions of supergene gold mineralisation confirmed
- New exploration permit granted in New Zealand’s Otago region, expanding Lammerlaw project
- Phase 1 drilling completed at Lammerlaw with assays pending; Phase 2 planned for early 2026
- Sale of UK-based Lochinvar Metallurgical Coal Project completed, focusing resources on core gold assets
Strong Start at Wagyu Gold Project
New Age Exploration Limited (ASX – NAE) has delivered a promising update from its maiden Reverse Circulation (RC) drilling program at the Wagyu Gold Project in the Central Pilbara, Western Australia. The company reported multiple high-grade gold intercepts, highlighted by an 8-metre interval grading 5.0 grams per tonne gold from 44 metres, including a standout 1 metre at 28.6 grams per tonne. These results confirm the presence of a laterally extensive supergene gold system with mineralisation remaining open both along strike and at depth.
The Wagyu project lies adjacent to Northern Star Resources’ 11.2 million ounce Hemi Gold Project, within the highly prospective Mallina Gold Corridor. New Age Exploration’s findings reinforce geological parallels to the early discovery stages at Hemi, where shallow oxide mineralisation guided targeting of deeper, higher-grade zones. The company’s updated interpretation now defines approximately 1 kilometre of continuous mineralisation across two key targets, underscoring Wagyu’s potential to evolve into a significant new gold system.
Expanding Exploration in New Zealand
In New Zealand, NAE has secured a new exploration permit (EP 61110 Waipori) in the Otago region, broadening its Lammerlaw Gold and Antimony Project footprint. Despite challenging conditions during the Phase 1 drilling program, including access issues due to local washouts, the company completed five drill holes targeting high-grade gold and antimony trends identified through historical data and soil sampling. Assay results are pending, with expectations for release in the coming weeks. Phase 2 drilling is planned for the first quarter of 2026, contingent on access approvals.
Strategic Asset Sale and Financial Position
Post-quarter, New Age Exploration completed the sale of its UK-based Lochinvar Metallurgical Coal Project subsidiary to Paladar Trading Ltd. This divestment allows the company to concentrate its exploration efforts on its core gold and critical elements projects in Australia and New Zealand. As part of the sale, NAE secured a perpetual royalty agreement, entitling it to A$1.00 per tonne on the first 15 million tonnes of minerals extracted from the Lochinvar Project.
Financially, the company reported cash reserves of A$557,000 as of 30 June 2025. While this represents a reduction from previous quarters, management remains confident in its ability to fund ongoing exploration activities through existing cash and potential future capital raising initiatives.
Looking Ahead
New Age Exploration plans to expand drilling at Wagyu to further delineate the supergene gold zones and test deeper primary mineralisation. The company also intends to leverage arsenic as a pathfinder element to identify additional gold mineralisation across the project area. In New Zealand, the upcoming Phase 2 drilling at Lammerlaw will aim to build on initial geological insights and assay results, advancing the understanding of this promising gold and antimony system.
Overall, the June quarter marks a pivotal step for New Age Exploration as it transitions from early-stage exploration to defining the scale and continuity of its mineral resources in two key jurisdictions.
Bottom Line?
With high-grade gold intercepts and strategic expansions underway, New Age Exploration is poised for a critical growth phase, next assays and deeper drilling will be key to unlocking its full potential.
Questions in the middle?
- How will pending assay results from Lammerlaw’s Phase 1 drilling influence the next exploration steps?
- What is the timeline and funding strategy for the planned Phase 2 drilling programs in both Australia and New Zealand?
- How might the royalty agreement from the Lochinvar sale impact New Age Exploration’s long-term cash flow and project funding?