New Age Exploration Completes Maiden RC Drilling at Promising Wagyu Gold Project
New Age Exploration (ASX: NAE) has announced the successful completion of its maiden Reverse Circulation (RC) drilling program at the Wagyu Gold Project in Western Australia's Central Pilbara region. The program, consisting of 33 holes totaling 3,023 meters, targeted five high-priority gravity anomalies across the eastern side of the project area.
The drilling follows up on high-grade gold intercepts from 2024 Air Core (AC) campaigns and represents a significant milestone in the company's systematic exploration of the Wagyu corridor, which shares the same gold mineralisation corridor as De Grey Mining's significant Hemi Gold deposit (11.2Moz resource).
Strategic Significance of the Wagyu Gold Project
The Wagyu Gold Project is strategically positioned within the same gold mineralisation corridor that hosts De Grey Mining's significant gold resources, including the Hemi deposit which boasts a substantial 11.2Moz gold resource at 1.3g/t Au. This geological setting significantly enhances the prospectivity of NAE's tenure and provides a proven regional context for potential discovery.
The project's location in the Central Pilbara positions NAE to potentially capitalise on the region's emerging status as a significant gold province. With De Grey's Hemi discovery transforming understanding of gold potential in the area, NAE's systematic exploration approach follows a similar technical pathway with the aim of making comparable discoveries.
Drilling Program Details and Geological Insights
The recently completed RC program specifically targeted gravity anomalies that showed promise from earlier exploration work. Key aspects of the program included:
- 33 holes drilled for a total of 3,023 meters
- Five high-priority gravity targets tested
- Holes drilled at 60° angles to depths of 50-150m
- Encountered variable geology including several intermediate intrusions
- Significant alteration potentially related to Hemi-style gold mineralisation
Executive Director Joshua Wellisch emphasised the significance of this milestone: "The completion of our first RC program at Wagyu is a significant milestone. We are proud of the team's efforts to deliver the program safely and efficiently, and we now look forward to receiving assay results that will guide the next phase of exploration across this promising tenure."
Understanding Gravity Targets in Gold Exploration
What Are Gravity Targets and Why They Matter to Investors
In gold exploration, gravity targets represent areas where measured gravitational readings differ from expected background values, often indicating density variations in subsurface rocks. These variations can signal the presence of different rock types, structural features, or mineralisation zones that might host gold deposits.
For Pilbara gold exploration specifically, gravity surveys have proven particularly effective at identifying intrusion-related gold systems like those at Hemi. The effectiveness of this technique was demonstrated by De Grey Mining's success, where gravity surveys played a crucial role in delineating the massive Hemi gold system.
For investors, gravity targets represent a scientific, data-driven approach to exploration that can significantly increase the probability of discovery success compared to random drilling. When a company like NAE systematically tests gravity anomalies that coincide with other favourable indicators (such as previous gold intercepts from AC drilling), it demonstrates a methodical exploration strategy that maximises efficiency and discovery potential.
The NAE Wagyu Gold Project drilling completion marks an important phase in testing these gravity anomalies that were identified during earlier exploration work. This systematic approach to testing these targets is crucial for building a comprehensive understanding of the potential gold mineralisation across the project area.
Next Steps and Timeline
With the drilling program now complete, NAE has commenced several post-drilling activities:
- Final sample handling and secure storage of chip trays
- Drillhole collar surveying across AC and RC programs
- Rehabilitation of 130+ drilling pads and approximately 14km of tracks
The company expects to receive assay results in late April to May 2025. These results will be crucial in guiding NAE's planned follow-up AC drilling program scheduled for Q2 2025.
| Timeline | Milestone |
|---|---|
| April-May 2025 | Expected receipt of RC drill assay results |
| Q2 2025 | Planned follow-up AC drilling program |
Investment Thesis: Why NAE Deserves Investor Attention
NAE presents a compelling investment case for several key reasons:
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Strategic Location: The Wagyu Gold Project sits in the same gold mineralisation corridor as De Grey Mining's Hemi deposit (11.2Moz), providing geological validation for the exploration premise.
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Systematic Exploration Approach: NAE is following a methodical, science-based exploration strategy, starting with AC drilling to identify prospective zones, followed by targeted RC drilling of high-priority anomalies.
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Potential for Transformative Discovery: The Pilbara region has demonstrated world-class gold discovery potential, as evidenced by the Hemi discovery which transformed De Grey from a small explorer to a significant gold developer.
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Upcoming Catalysts: With assay results expected in the coming weeks and follow-up drilling planned for Q2 2025, NAE has a clear pipeline of news flow that could drive valuation re-rating upon successful results.
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Experienced Management: The company's technical team includes experienced professionals familiar with Pilbara gold exploration, enhancing the likelihood of exploration success.
The successful completion of the NAE Wagyu Gold Project drilling completion program represents a significant step forward in the company's exploration strategy. By systematically testing gravity anomalies identified through previous work, NAE is taking a methodical approach to potentially unlocking value within its tenements.
Why Investors Should Follow NAE's Development
New Age Exploration represents an opportunity to gain exposure to gold exploration in one of Australia's most promising and rapidly emerging gold provinces. The company's Wagyu Gold Project benefits from:
- Proximity to De Grey's Hemi deposit, providing a proven geological analog
- Systematic exploration approach with clear milestone progression
- Multiple upcoming catalysts with assay results expected shortly
- Relatively modest market capitalisation offering leverage to exploration success
For investors seeking exposure to gold exploration with a balance of risk and reward, NAE offers an entry point into a project with legitimate discovery potential in a proven gold belt. With assay results pending and additional drilling programs planned, the coming months represent a potentially transformative period for the company as it advances its understanding of the Wagyu Gold Project's potential.
The NAE Wagyu Gold Project drilling completion represents just one step in the company's broader exploration strategy. The systematic approach being employed by NAE—starting with regional-scale targeting, followed by AC drilling to identify prospective zones, and now RC drilling to test specific targets—demonstrates a disciplined and methodical approach to exploration that maximises the chances of success while managing exploration risk.
Key Takeaway:
NAE has positioned itself as an emerging player in the Pilbara gold region, with significant upside potential due to its strategic land position within the same gold corridor as De Grey's 11.2Moz Hemi deposit. With upcoming assay results expected in April-May 2025 and follow-up drilling planned for Q2 2025, investors should keep a close eye on developments that could potentially transform the company's valuation through digital transformation in mining and improved corporate governance.
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