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New Age Exploration Limited ( (AU:NAE) ) has shared an update.
New Age Exploration has reported final assay results from a 4,034 metre reverse circulation drilling program at its Wagyu Gold Project in the Pilbara, Western Australia. The campaign targeted extensions of known mineralisation at Target 10 and additional intrusive targets identified from geophysical and geochemical work.
Results include a standout intercept of 4 metres at 11.0 grams per tonne gold from 120 metres, along with several broader zones of plus 1 gram per tonne mineralisation at shallow to moderate depths. These intercepts confirm gold hosted in altered intrusive rocks with quartz veining, arsenic and sulphides, consistent with an intrusion-related gold system.
The drilling has expanded the mineralised footprint at Target 10 eastwards and confirmed primary mineralisation below 100 metres depth. Management says the presence of diorite intrusions, intense alteration and high-grade gold indicates the system has potential scale and richness similar in style to the nearby Hemi deposit.
Given Wagyu’s location about 5 kilometres west of the 11.2 million ounce Hemi Gold Deposit within the Mallina Basin corridor, the results enhance the project’s strategic value. The company expects that the new data will provide clear vectors for the next phase of exploration, reinforcing Wagyu as a scarce and valuable asset in a tightly held district.
The most recent analyst rating on (AU:NAE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on New Age Exploration Limited stock, see the AU:NAE Stock Forecast page.
More about New Age Exploration Limited
New Age Exploration Limited is an Australian mineral exploration company focused on gold projects, including the Wagyu Gold Project in the Pilbara region of Western Australia. The company targets intrusion-related gold systems in the Mallina Basin, near major deposits such as Northern Star Resources’ Hemi Gold Deposit, positioning itself in a highly prospective gold corridor.
Current Market Cap: A$16.82M
For detailed information about NAE stock, go to TipRanks’ Stock Analysis page.