Wia Gold Identifies New High-Grade Underground Target at Kokoseb

• New deep high-grade gold target discovered at Kokoseb
• Mineralisation extended beyond current open pit resource
• Strong continuity in high-grade plunging shoots confirmed
• Updated Mineral Resource Estimate underway
• Definitive Feasibility Study on track for Q3 2026

Discovery of New Deep High-Grade Target

Wia Gold Limited (ASX:WIA) has unveiled a significant new high-grade gold horizon beneath the Central Zone of its Kokoseb Gold Project in Namibia, following assay results from nearly 20,000 metres of recent drilling. Diamond drill hole KDD147 delivered a standout intercept of 9.0 metres grading 10.64 grams per tonne (g/t) gold from 811 metres depth, including 4 metres at an exceptional 22.76 g/t Au, marking a fresh underground target some 350 metres below the existing open pit shell.

This discovery adds a second high-grade zone beneath the Central pit, complementing earlier findings and substantially increasing the project's underground development potential. The mineralisation lies approximately 700 metres below surface, well beyond the current resource boundary, and remains open at depth.

Extension and Continuity of High-Grade Zones

Beyond the new target, Wia’s drilling continued to extend high-grade mineralisation in both the Central and Southern Zones. Notably, hole KDD152 extended the Central Zone plunging shoot to 580 metres below the pit shell with 12.0 metres at 1.86 g/t Au, including 3 metres at 3.04 g/t Au. Similarly, in the Southern Zone, KDD156 pushed the high-grade shoot 80 metres deeper to 480 metres below the pit, intersecting 9.0 metres at 2.59 g/t Au, including 4 metres at 4.83 g/t Au.

Other significant intercepts across the zones include multiple intervals exceeding 2 g/t Au over substantial widths, reinforcing the internal grade continuity and scale of the mineralised shoots. These results underpin the robustness of the plunging shoots and their potential to support underground mining.

Resource Update and Feasibility Study Progress

Wia is currently updating the Mineral Resource Estimate (MRE) to incorporate all historical and recent drilling data, including these latest results. The project’s existing MRE stands at 2.93 million ounces of gold at a 1.0 g/t cut-off, with a higher-grade portion of 2.07 million ounces at 1.4 g/t Au.

The Definitive Feasibility Study (DFS) remains on schedule for completion in the third quarter of 2026. Six diamond drill rigs are actively engaged in definition drilling aimed at refining the underground resource, while a recent Reverse Circulation (RC) drilling campaign has validated grade continuity near the open pit margins.

Strategic Implications for Kokoseb Development

Managing Director Henk Diederichs highlighted the significance of the new deep target and the extended mineralisation, stating that these findings bolster confidence in Kokoseb’s long-term scale and value. The project’s robust scoping study envisages an initial mine life exceeding 11 years, producing roughly 177,000 ounces annually in the first five years, with strong economics at prevailing gold prices.

Located in Namibia’s well-established mining jurisdiction and held under a joint venture with state-owned Epangelo Mining, Kokoseb is positioned as a potential major gold mine. The ongoing drilling and resource definition work are critical steps toward unlocking underground mining potential and advancing Kokoseb toward production.

Bottom Line?

Wia Gold’s new underground target at Kokoseb adds depth and value to the project, with the updated resource and DFS due soon to clarify its economic potential.

Questions in the middle?

• How will the updated Mineral Resource Estimate reshape Kokoseb’s underground mining strategy?
• What impact will the new deep high-grade zone have on project economics and mine life?
• Will the Definitive Feasibility Study confirm the scalability of these underground targets?