Wia Gold (ASX:WIA) has 3 drill rigs operating at its Kokoseb Gold Project in Namibia and plans to mobilise 2 more to the site before the end of October.
A diamond drill rig is currently targeting key structural zones of Kokoseb, while a reverse circulation (RC) rig is progressing along strike and testing the western zone.
Meanwhile, a rotary air blast (RAB) rig is operating on the southern side of the deposit, testing for the location of gold mineralisation near and under the regional thrust.
The $36.82 million market capitalisation company has received gold assay results from the main mineralised zone of diamond drillhole KDD013, which confirmed the interpreted mineralised envelope in this area without intercepting the demonstrated ‘high-grade’ shoot that lies within it.
KDD013 intersected 3.5m @ 2.52g/t Au from 278.2m and 9.5m @ 1.27g/t Au from 294.6m.
Wia Gold notes that these assay results are not yet fully validated by the laboratory, and further assays are still pending.
Further extension drilling is underway in the area to test for other potential orientations of this ‘high-grade’ shoot.
As the drilling work continues, Wia is planning to mobilise a second diamond and RC rig to the Kokoseb site before the end of October.
Wia Gold Chairman Andrew Pardey says as drilling ramps up, the company will have 5 rigs in total at Kokoseb this month.
“This significant expansion in drilling capability has us excited to be accelerating our evaluation of the larger Kokoseb system.
“This significant expansion in drilling capability has us excited to be accelerating our evaluation of the larger Kokoseb system”
The primary areas of focus of current drilling continues to be step-out drilling of modelled strike extensions into exploration target areas and testing of high-grade shoot potential beneath existing shallow resource pit shell outlines.”
Wia is a gold-focused explorer with assets in the Damaran belt in Namibia and the Birimian greenstones of Côte d’Ivoire.
As of 30 June 2023, the company had $1.216 million cash and cash equivalents at hand, according to its latest quarterly report. In August, Wia Gold announced it had raised more than $11 million via an entitlement offer.
Write to Aaliyah Rogan at Mining.com.au
Images: Wia Gold
