Wia Gold (ASX:WIA) has ‘significantly’ extended its Kokoseb gold deposit in Namibia through a 14-hole reverse circulation (RC) drilling program.
The $30.38 million market capitalisation company says the drilling, which comprised 10 RC holes (KRC134-143) and 4 diamond holes (KDD004 and KDD014-16), has outlined a ‘thick’ mineralised shoot and ‘strong’ depth extensions at the North-West zone.
Wia reports that the drilling has ‘significantly’ extended the Western Zone at depth and returned ‘notable shallow’ intercepts from the Gap zone, which sits outside of the existing mineral resource at Kokoseb.
The company notes the results from the Gap zone are ‘better than predicted’ within the Exploration Target model.
Key results from the North-West zone include hole KDD015 with 42.7m @ 1.67 grams per tonne (g/t) Au from 155.9m; and hole KDD016 with 29.7m @ 1.7g/t Au from 271.5m, including 7.6m @ 4.17g/t Au.
Meanwhile, key results from the Western and Gap zones include hole KDD004 with 7.1m @ 3.76g/t Au from 175m; and hole KRC137 with 14m @ 1.52g/t Au from 81m, respectively.
Wia says drilling is currently focused on further extending the North-West zone, while RC drilling is also ongoing at the ‘high-grade’ zone near hole KRC086 and extending the Gap zone drill pattern.
Chairman Andrew Pardey says the drilling completed to date confirms the continuity along a 4.9km strike length plus a ‘significant’ depth extension, therefore highlighting the scope for ‘substantial’ growth in the existing mineral resource.
Wia Gold is an active gold explorer working in the Damaran belt in Namibia and the Birimian greenstones of Côte d’Ivoire.
The company’s Kokoseb deposit sits in northwest Namibia, a country with an established history as a ‘significant’ producer of uranium, diamonds, gold, and base metals.
As of 30 September 2023, Wia Gold had $10.124 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Wia Gold and Pexels
