Wia Gold is making steady progress on its Kokoseb Gold Project in Namibia, reporting strong high-grade drilling results that bolster underground mining prospects alongside ongoing feasibility studies and strategic leadership appointments.
- Definitive Feasibility Study on track for H2 2026 completion
- High-grade drilling confirms underground mining potential
- Environmental permits formally submitted to Namibian authorities
- Board and management team bolstered with African mining expertise
- Divestment of non-core Côte d’Ivoire assets to focus on Namibia
Feasibility Study Progress and Operational Readiness
Wia Gold Limited (ASX:WIA) is advancing its Definitive Feasibility Study (DFS) for the 2.93 million ounce Kokoseb Gold Project in Namibia on schedule, targeting completion in the second half of 2026. The study remains grounded in an open-pit mining concept, with key technical milestones achieved during the March quarter. Geotechnical testing validated earlier design parameters, while hydrogeological assessments and groundwater modelling are underway to refine pit optimisation and mine scheduling.
Metallurgical testwork confirmed consistency with prior scoping assumptions, including favourable non-acid forming geochemistry of the ore. Meanwhile, detailed process plant layouts and tendering for major mechanical equipment have commenced, focusing initially on long-lead items. Infrastructure applications for road access and diversions are progressing with Namibian authorities, and multiple water sources are being assessed to support operations.
High-Grade Drilling Reinforces Underground Potential
Exploration drilling during the quarter, involving six diamond rigs and one reverse circulation rig, delivered compelling high-grade intercepts that extend mineralisation well beyond the current open-pit resource. The Southern Zone’s plunging shoot was extended to at least 400 metres below the pit shell, with intercepts such as 10.8 metres at 5.16 g/t gold including 4.6 metres at 11.24 g/t. Similarly, the Central Zone revealed new high-grade targets beneath the pit shell, including 20.7 metres at 5.77 g/t gold with an 11-metre section at nearly 10 g/t.
These results highlight Kokoseb’s robust underground mining potential, complementing the existing open-pit focus. An updated Mineral Resource Estimate incorporating an inaugural underground resource is expected alongside DFS completion in H2 2026. This builds on the company’s earlier resource update and reinforces the project's long-term value proposition. The drilling success and DFS advancement follow the company’s recent deeper high-grade gold zones announcement, underscoring consistent exploration momentum.
Regulatory Milestones and Strategic Divestment
Wia Gold achieved a significant permitting milestone with the formal submission of its Environmental and Social Impact Assessment (ESIA) and Environmental and Social Management Plan (ESMP) to Namibia’s Ministry of Industries, Mines and Energy and Ministry of Environment, Forestry and Tourism. The Mining Licence Application continues through regulatory assessment, marking steady progress toward project development approvals.
In a strategic move to sharpen its focus on Kokoseb and Namibia, Wia completed the divestment of its non-core Côte d’Ivoire exploration assets to ASX-listed Santa Fe Minerals Limited (ASX:SFM). The transaction involved the receipt of 20 million Santa Fe shares and 8 million performance rights, allowing Wia to maintain exposure to the region while concentrating resources on its flagship Namibian project.
Leadership Enhancements and Financial Position
The company strengthened its leadership team with the appointment of Henk Diederichs as Managing Director and CEO, bringing over 20 years of African mining experience. Alongside Diederichs, Adam Smits joined as Non-Executive Director and David Edwards as Chief Financial Officer, both with extensive backgrounds in mine development and finance across African jurisdictions. These appointments aim to bolster operational delivery as Kokoseb moves toward development.
Financially, Wia Gold reported a cash balance of A$40.94 million at quarter end, with no debt. Exploration and evaluation expenditure totaled A$5.139 million for the quarter. Formal project financing discussions have commenced with potential providers, signalling the company’s intent to secure development capital in line with DFS progress.
Bottom Line?
Wia Gold’s steady DFS progress and high-grade drilling success position Kokoseb as a compelling Namibian gold development, but upcoming resource updates and financing negotiations will be critical to watch.
Questions in the middle?
- How will the updated Mineral Resource Estimate incorporating underground resources impact project economics and financing terms?
- What is the timeline and likelihood for securing the Mining Licence and environmental approvals to support development?
- How will Wia Gold navigate project financing amid evolving market conditions and capital requirements?