USD $4,111.97
Goldman Updated estimate adds a maiden 560,000-ounce underground resource at the Namibian project
Wia Gold Limited (ASX:WIA) has increased the Mineral Resource Estimate for its Kokoseb Gold Project in Namibia by 29% to 113 million tonnes at 1.0g/t gold for 3.78 million ounces.
The updated estimate is reported at separate cut-off grades of 0.50g/t gold for the open-pit resource and 0.85g/t gold for the underground resource.
- An open-pit resource of 105 million tonnes at 0.96g/t gold for 3.23 million ounces, including 2.01 million ounces in the Indicated category.
- A maiden underground Inferred resource of 7.9 million tonnes at 2.2g/t gold for 560,000 ounces.
- Approximately 53% of the total resource is now in the Indicated category at the stated cut-off grades.
Mineralisation remains open at depth along more than five kilometres of strike. Six diamond rigs are operating to test continuity, depth extensions and potential higher-grade zones.
Wia Managing Director and CEO Henk Diederichs:
This updated MRE delivers a 29% increase in contained gold to 3.78Moz and, importantly, includes a maiden underground Mineral Resource that adds a higher-grade component to Kokoseb and highlights the Project’s longer-term growth potential. It is particularly pleasing that 2.01Moz of gold is now classified in the higher-confidence Indicated category, providing a strong foundation for the Definitive Feasibility Study and ongoing development planning. With six rigs currently operating, drilling activities are focused on testing the continuity and extent of mineralisation at depth and further assessing potential higher-grade zones to improve confidence in the underground resource.
