Wia Gold (ASX:WIA) expects to start targeting drilling this quarter at the interpreted ‘high-grade’ plunging shoot between the Western and Central Zones at its Damaran Gold Project in Namibia.
The $23.01 million market capitalisation company says it is continuing step-out reverse circulation (RC) drilling to rapidly grow the existing Mineral Resource Estimate (MRE) at the Kokoseb deposit, within the Damaran Gold Project.
Wia says drilling is continuing along strike from the existing MRE boundaries, currently focused on the northern trend.
This announcement follows after Wia received results from a further 16 holes from the RC drill program at Kokoseb.
Wia reported infill drilling of the Western Zone returned shallow, ‘high-grade’ gold intercepts at or above the MRE block model expectations. The ‘best’ intercept recorded includes hole KRC102 with 30m @ 1.63g/t Au from 35m; and hole KRC106 with 13m @ 5.39g/t Au from 38m.
A new ‘high-grade’ plunging shoot has been interpreted at the Western Zone, with the targeted linkage to recent thick, ‘high-grade’ intercept returned beneath the Central Zone from hole KRC086 with 68m @ 5.72g/t Au from 271m, including 37m @ 9.46g/t Au.
Commenting on the drill results, Wia Gold Chairman Andrew Pardey says: “Infill drilling of the Western Zone completed immediately post the maiden MRE cut-off date, has shown above expectation results including particularly strong coherence within the modelled higher grade areas of the deposit.
This has led us to identify a high-grade plunging shoot within the Western Zone that we believe has a high likelihood of linkage with the exceptionally thick and high-grade extensional intercept recently reported from drilling beneath the Central Zone.
“Drilling of this interpreted high-grade shoot is planned to commence during Q3”
Drilling of this interpreted high-grade shoot is planned to commence during Q3.
Strike extension drilling to the south of the Western Zone has also delivered a substantial 300m extension of this zone at typical Kokoseb grades – with this extension remaining open and targeted for further testing. This type of latent growth potential is why Kokoseb is such an exciting prospect.
The predominant focus of current drilling at Kokoseb is further rapid MRE growth proven strike extensions, delivered via step-out drilling into the exploration target areas.”
Wia Gold is a gold focused exploration company, rapidly advancing its recent Kokoseb discovery in Namibia. The company also has various gold projects in the Birimian greenstones of Côte d’Ivoire.
As of 31 March 2023, the company had $3.5 million cash at hand, according to its latest quarterly report published on 21 April 2023
Write to Aaliyah Rogan at Mining.com.au
Images: Wia Gold Ltd & iStock
