WIA Gold has announced that its cumulative exploration and evaluation acquisition expenditure in Namibia for 2024 totalled US$35.83 million (N$658 million), with US$15.46 million spent by June and an additional US$20.37 million by December.
The company is accelerating development at the Kokoseb Gold Project, with plans for 2025 centered on increasing drilling capacity, advancing metallurgical studies, and initiating scoping studies to mitigate project risks.
To achieve this, WIA Gold plans to increase the number of drill rigs to three diamond and three reverse circulation (RC) rigs, engage consultants to advance the Kokoseb project to the scoping study level, and strengthen technical development capabilities on-site.
“The company will commence geotechnical activities to develop an initial geotechnical drilling program, further advance metallurgy work with two samples totaling 302 kg undergoing testing, and initiate pit optimisation and mining strategy agreements,” WIA Gold said.
Additionally, environmental and hydrology studies, satellite imagery analysis, and surface water management designs will be expanded.
During the first half of 2024, WIA Gold drilled a total of 21,958 meters at Kokoseb, comprising 14,237 meters of RC drilling and 7,721 meters of diamond drilling across all zones of the deposit.
“Results continue to demonstrate the continuity of mineralisation along the 4.8 km Kokoseb gold deposit, with mineralisation remaining open along strike and at depth. Significant intercepts were recorded at depth in the Gap Zone, while the Central Zone exhibited high-grade mineralisation from extensional drilling,” the company reported.
The NW Zone has also produced a strongly mineralised shoot that appears to be thickening at depth.
Meanwhile, drilling activities intensified in January 2025 with the addition of two RC rigs, bringing the total to three.
“The RC rigs will focus on shallow depth resource conversion through infill drilling, while two diamond rigs will continue targeting high-grade mineralised shoots at depth, particularly at the Central Zone. A third diamond rig is set to commence operations soon,” the company added.
WIA Gold also reported financial results for the half-year ended December 31, 2024, recording an operating loss of US$1.55 million, compared to US$820,548 in the previous year. The company’s basic loss per share was 0.13 cents, slightly higher than the 0.12 cents recorded in 2023.
WIA Gold is a gold focussed exploration business rapidly advancing the Kokoseb discovery in Namibia.
