Wia Gold (ASX:WIA) is ramping up drilling activities at its Kokoseb Gold Project in Namibia with scheduled mobilisation of a third drill rig in October this year.
The $35.9 million market capitalisation company notes additional along strike drilling is also planned through targeted addition of a fourth drill rig.
Exploration target areas and ‘high-grade’ shoot potential beneath the existing shallow resource pit shell outlines are the current focus for drill testing within the current programs at the project.
This news comes after the first diamond drillhole of the current drill program has intersected gold mineralisation 70m along strike from the previously reported ‘high-grade’ intercept returned in drillhole KRC086.
Visible gold was observed in core sections from drillhole KDD013, with assay results pending.
Wia reports extensional reverse circulation (RC) drilling at the project’s northern trend confirms continuity of shallow gold mineralisation for 750m along strike from the existing resource pit shell.
These results include drillhole KRC123 with 10m @ 2.14g/t Au from 181m; and drillhole KRC117 with 14m @ 0.98g/t Au from 120m.
Commenting on drilling activities, Wia Gold Chairman Andrew Pardey says: “Following the successful completion of the entitlement offer, our planned aggressive resource expansion drilling activities at Kokoseb are gaining significant momentum. We currently have 2 drill rigs turning and are preparing to mobilise a further 2 rigs.
The first diamond drillhole completed in August, KDD013, has intersected gold mineralisation – confirmed by the presence of visible gold in the host rock. This is exciting in that it demonstrates the validity of our interpreted high-grade plunging shoot, with this result located approximately 70m along strike from the previously reported high-grade intercept in KRC086. We look forward to reporting the assay results for KDD013 when returned.”
The Kokoseb project is located in northwest Namibia within the Okombahe exploration licence.
This licence is held under a joint venture (JV) by Wia Gold and the Namibian state-owned mining company Epangelo.
Wia Gold is a gold-focused exploration company. The company is working to ‘rapidly’ advance its Kokoseb discovery in Namibia.
As of 30 June 2023, the company had $1.216 million cash and cash equivalents at hand, according to its quarterly report. Post quarter, the company completed an entitlement offer to raise $11 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Wia Gold
