NEW AGE EXPLORATION -- NAE
cap: $7 mil
SOI: 1,793 mil
New Age Exploration (ASX:NAE) is an Australian based globally diversified minerals and metals exploration and development company focused on gold and lithium projects. The Company’s key activities include advancing its exploration projects in the highly prospective gold and lithium Pilbara district of Western Australia and in the Otago goldfields of New Zealand.
Wagyu Gold Project
New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce the completion of Phase 1 drilling at the Wagyu Gold Project, located in the Pilbara region of Western Australia.
The Wagyu Gold Project, located in the well-endowed Central Pilbara gold region, represents a highly prospective Gold opportunity ~9km along strike from De Grey Mining’s (ASXEG) Hemi Gold Deposit containing ~10.5Moz1
Future Work
Further exploration drilling (Phase 2) should commence around 20 September, with additional Air Core drilling planned to expand the knowledge and prospectivity of the Wagyu Gold project. Phase 2 drilling will test additional gold targets across the project and follow up on prospective areas determined from Phase 1 (assays pending).
Two gravity targets remain untested on the project's west side (Target 3 and Target 4). However, further cultural heritage surveys are required to access these areas for drill testing.
NAE is committed to advancing its exploration projects while ensuring compliance with all regulatory and cultural heritage requirements. The Company continues to have a strong working relationship with the Kariyarra Aboriginal Corporation (KAC), who represent the traditional custodians of the land on which the Wagyu Project lies.
All exploration work carried out by NAE in the past five months continues to reinforce the high prospectivity of the Wagyu Gold Project, and the expectant assay results will give the Company further direction for future work.--
EG) Hemi Gold Deposit containing ~10.5Moz1
