Wia Gold Limited (ASX: WIA) has released a maiden Inferred Mineral Resource Estimate (MRE) of 1.3 million ounces for the Kokoseb Gold Project fin Namibia.
Preliminary metallurgical test results returned excellent gold recoveries above 91% via gravity and standard direct leach process, confirming the development potential for Kokoseb.
The MRE includes the results from a further16 reverse circulation (RC) drill holes – KRC073, KR076 to KRC085, KRC088, KRC089 and KRC091 to KRC093.
We are very proud to deliver this initial Mineral Resource Estimate which is an important step in Wia’s journey,” Chairman, Andrew Pardey, said.
“This resource estimate was delivered only 11 months after the discovery holes and at an outstanding discovery cost of US$2/oz, demonstrating our ability to deliver value through systematic exploration.”
“Opportunities to grow the resource have been identified and drilling is continuing at Kokoseb. RC drilling results continue to impress with their consistency, as shown with the results released in this announcement. As we progress our exploration at Kokoseb, its potential becomes increasingly apparent, with the discovery of new mineralised shoots and strike extensions.
“Kokoseb demonstrates excellent continuity in grade and width from surface, which allowed the use of the Multiple Indicator Kriging (MIK) estimation method to produce a robust set of estimates.
“We are also pleased with the preliminary results from metallurgical testwork conducted on two composited samples, which returned over 91% gold recoveries under standard gravity / leach process. Importantly, these results help to de-risk the development potential at Kokoseb.
“We look forward to continuing this exciting journey at Kokoseb as we seek to develop a significant gold project in Namibia, a stable and investment friendly jurisdiction where B2Gold has the Otjikoto Mine that has been in production since 2014 and Osino Resources is currently completing a study of the Twin Hills gold project.”
Kokoseb was first identified in May 2021, by a regional grid soil sampling program completed over the licence as a first pass comprehensive reconnaissance.
The original 500m grid pattern was infilled at a 100m x 25/50m grid pattern leading to the definition of the Kokoseb soil anomaly, a very coherent +100ppb gold anomaly, in November 2021. A trenching programme, which commenced in September 2021 confirmed the mineralisation at Kokoseb, with a small-scale diamond drilling programme completed in early 2022. An RC drilling programme commenced at the end of the June quarter 2022 and has formed the basis of the MRE.
The dataset informing the MRE includes results from 12 diamond holes and 90 RC holes, totalling 19,496m of drilling, along with data from 10 trenches for 1,058 m, all data available at 10th of May 2023.