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New Age Exploration Limited ( (AU:NAE) ) just unveiled an announcement.
New Age Exploration has reported initial assay results from a 4,034m reverse circulation drilling program at its Wagyu Gold Project, indicating an intrusion-related, Hemi-style gold system with extensive primary mineralisation. The project, situated 5km west of the 11.2Moz Hemi deposit in the mineralised Mallina Basin, returned notable broad intercepts including 18m at 1.47g/t from 48m and 16m at 0.82g/t from 116m, with assays from 16 remaining holes still pending.
Management said the grades and widths are consistent with bulk intrusive systems and highlighted evidence that mineralisation may widen and intensify with depth, reinforcing Wagyu’s potential scale. The company plans further drilling once all assays are received to better define the size, continuity and controls of the system, a step that could materially influence NAE’s growth prospects and its standing among emerging gold explorers in the region.
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 listed on the ASX and focused on gold exploration. Its key asset in this update is the Wagyu Gold Project in Western Australia’s Mallina Basin, located about 5km west of Northern Star Resources’ large Hemi gold deposit, positioning NAE in a highly prospective intrusion-related gold district.
Current Market Cap: A$10.51M
Learn more about NAE stock on TipRanks’ Stock Analysis page.