New Age Exploration’s latest drill assays reveal a promising intrusion-related gold system at the Wagyu Gold Project, expanding the known mineralisation and validating its geological model.
- 4,034m RC drill program confirms Hemi-style intrusion-related gold system
- Significant gold intercepts including 18m @ 1.47g/t from 48m depth
- Gold mineralisation extends to greater depths, indicating potential scale
- Wagyu project located near Northern Star’s 11.2Moz Hemi deposit in Mallina Basin
- Further assay results pending with follow-up drilling planned
Discovery Validates Geological Model
New Age Exploration Limited (ASX, NAE) has announced encouraging assay results from its recently completed 4,034-metre Reverse Circulation (RC) drilling campaign at the Wagyu Gold Project in Western Australia’s Pilbara region. The initial batch of assays supports the discovery of an intrusion-related gold system analogous to the nearby Hemi deposit, a major 11.2 million ounce gold resource held by Northern Star Resources.
The standout intercept of 18 metres grading 1.47 grams per tonne gold from 48 metres depth exemplifies the extent of primary gold mineralisation identified so far. These results not only confirm the presence of significant gold but also validate the company’s geological model that envisages a Hemi-style intrusion-related system, characterised by broad zones of moderate-grade mineralisation rather than narrow high-grade veins.
Expanding the Known Mineralised Zone
Beyond the headline intercepts, multiple other significant gold intersections were recorded, including 8 metres at 1.5g/t and 19 metres at 0.5g/t with higher-grade sub-intervals. The assays indicate that gold mineralisation extends to greater depths than previously understood, with evidence suggesting mineralisation intensity may increase at depth. This deepening mineralisation profile aligns with the company’s interpretation of a depletion zone separating supergene (near-surface) and primary (deeper) gold mineralisation.
Importantly, the Wagyu project lies within the Mallina Basin corridor, just 5 kilometres west of Northern Star’s Hemi deposit, placing it in a highly prospective geological setting. The presence of quartz-diorite and diorite host rocks at Wagyu further strengthens the analogy to Hemi, which is known for its intrusion-related gold system.
Pending Assays and Next Steps
While assays from 24 drill holes have been received, results from 16 holes remain outstanding and are expected in the coming weeks. New Age Exploration’s Executive Director Joshua Wellisch emphasised the excitement around the initial findings and the importance of the pending data to fully assess the scale and continuity of the mineralisation.
The company plans to integrate the complete assay dataset with geophysical and geochemical information to refine geological interpretations and prioritise follow-up drilling targets. This next phase aims to expand on the discovery and better define the potential resource at Wagyu.
Strategic Positioning in a Proven Gold District
New Age Exploration’s Wagyu Gold Project benefits from its proximity to one of Australia’s most significant recent gold discoveries. The Hemi deposit, with an estimated 11.2 million ounces of gold, has set a benchmark for intrusion-related gold systems in the region. Wagyu’s emerging mineralisation, supported by robust assay results and geological similarities, positions New Age Exploration to potentially unlock a valuable new gold resource within this prolific corridor.
As the company awaits the remaining assay results and advances its exploration program, the market will be watching closely to see if Wagyu can deliver a resource of scale comparable to its illustrious neighbour.
Bottom Line?
Wagyu’s promising assay results mark a pivotal step, but the full picture awaits pending data and follow-up drilling.
Questions in the middle?
- How will the remaining 16 assay results influence the overall mineralisation model?
- What is the potential scale and economic viability of the Wagyu gold system compared to Hemi?
- When will New Age Exploration commence and report results from follow-up drilling?