New Age Exploration Announces Significant Gold Intercepts at Wagyu Gold Project
NAE (NAE) Share Update November 2024 Tuesday 12th
New Age Exploration Unveils Promising Gold Intercepts at Wagyu Project
New Age Exploration Limited (ASX: NAE) has announced promising assay results from its Phase 1 drilling at the Wagyu Gold Project in Central Pilbara, Western Australia, revealing significant gold mineralisation across multiple intervals.
Instant Summary:
- Significant gold intercepts confirmed in Phase 1 drilling.
- Fifth significant gold intercept added at Wagyu.
- Phase 2 drilling results expected soon.
- Cultural Heritage Surveys planned to expand exploration.
Phase 1 Drilling Results
New Age Exploration Limited (NAE) has shared the results from resampling of Phase 1 drilling at the Wagyu Gold Project. The resampling confirmed additional significant gold occurrences across multiple intervals, validating the potential of the Wagyu Project as a gold-mineralised system.
Significant intercepts include 2 meters at 1.5g/t from 13m depth and 1 meter at 2.2g/t from 32m depth. Previously announced intercepts include 3 meters at 2.2g/t gold from 24m and 1 meter at 1.5g/t gold from 39m.
Project Location and Potential
The Wagyu Gold Project is located in Central Pilbara's rapidly emerging gold region, adjacent to De Grey Mining's Hemi Gold deposit. This strategic location enhances the project's potential, as it lies within a mineralised corridor known for significant gold resources.
Next Steps and Future Plans
NAE anticipates receiving Phase 2 drilling results in the coming weeks, which will provide further insights into the gold mineralisation across additional zones at Wagyu. The company also plans Cultural Heritage Surveys to expand exploration areas and a Reverse Circulation (RC) drilling program to test gold mineralisation depth and continuity.
The confirmation of significant gold intercepts at the Wagyu Project is likely to positively influence NAE's stock as investors react to the promising results. The strategic location of the project in a known gold-rich corridor further enhances its potential, making it an attractive prospect for investors.
Investor Reaction:
Analysts are expected to view these results positively, given the project's proximity to De Grey Mining's substantial gold resources. The anticipation of Phase 2 results and further exploration activities could bolster investor confidence and interest in NAE's stock.
Conclusion:
Investors should keep an eye on the upcoming Phase 2 results and NAE's continued exploration efforts at the Wagyu Gold Project. The project's promising location and recent findings could present significant opportunities for growth and value creation.