NAE Advances Wagyu Drilling, Eyes Gold Growth in Australia and New Zealand

Wagyu Drilling Progress and Geological Confidence

New Age Exploration Limited (ASX, NAE) has made steady progress in its December 2025 quarter, focusing on advancing a ~4,000-metre Reverse Circulation (RC) drilling program at its Wagyu Gold Project in the Central Pilbara region of Western Australia. Located just 5 kilometres west of Northern Star Resources’ prolific Hemi Gold Deposit, Wagyu lies within a highly prospective gold mineralised corridor that hosts several significant deposits.

During the quarter, 24 drill holes totalling 2,388 metres were completed, targeting strike and depth extensions of ‘Hemi Style’ gold mineralisation. Geological logging revealed lithologies, alteration patterns, and sulphide assemblages consistent with previous drilling campaigns, bolstering confidence in the scale and continuity of the mineralised system. However, the company cautions that visual observations are no substitute for laboratory assays, which remain pending and are expected progressively throughout the first quarter of 2026.

Encouraging Signs from New Zealand Projects

In parallel, NAE’s New Zealand portfolio continues to show promise. The maiden RC drilling program at the Lammerlaw Gold and Antimony Project in Otago confirmed the presence of Macraes-style orogenic gold mineralisation, a style associated with significant regional deposits. Notably, hole LAM RC13 intersected 6 metres at 0.65 grams per tonne gold, including 2 metres at 1.05 grams per tonne, accompanied by elevated tungsten and arsenic levels; key pathfinder elements in this geological setting.

These results validate NAE’s targeting strategy along the southern limb of the Otago antiform and support plans for follow-up drilling to test strike extensions and higher-grade shoots. Meanwhile, at the Waipori and Marlborough projects, the company is progressing land access agreements and planning soil sampling and trenching programs to refine drill targets.

Financial Position and Corporate Outlook

NAE bolstered its financial position during the quarter with a $3.75 million capital raising completed in October 2025, providing a solid cash reserve of $3.1 million at the end of December. This funding underpins ongoing exploration activities and supports the completion of the Wagyu drilling program and follow-up work in New Zealand.

Looking ahead, the company plans to complete the remaining metres of the Wagyu RC program following its recommencement in January 2026, alongside progressive assay result interpretation. In New Zealand, further drilling and surface sampling will aim to delineate the extent and grade of gold mineralisation, with a focus on advancing promising targets identified in the maiden programs.

While assay results from Wagyu are awaited, the combination of geological indicators and strategic capital management positions NAE to potentially unlock value across its diversified gold exploration portfolio in two highly prospective jurisdictions.