Wia Gold says it has revised its inferred Mineral Resource Estimate (MRE) for the Kokoseb Deposit in Namibia, unveiling a notable increase to 2.1 million ounces at 1.0 grams per tonne (g/t) Au.
This marks a 63% rise in contained gold from the initial estimate. Wia’s Chairman Andrew Pardey said the Kokoseb deposit boasts one of the lowest discovery costs globally, standing at less than US$3/ounce of MRE-contained gold.
“We are delighted to deliver this significant milestone in the Kokoseb journey. That journey began with a greenfield discovery in 2021 and has been followed with a disciplined exploration programme leading to rapid resource growth at an extremely low discovery cost per ounce,” Pardey said.
The updated inferred mineral resource estimate for the Kokoseb Deposit now stands at 66 million tonnes (Mt) at 1.0 g/t Au, totalling 2.12 million ounces of gold.
“This marks a 63% increase in contained gold compared to the maiden 1.3 million ounces of MRE. Additionally, the higher grade component of 34Mt at 1.4 g/t Au for 1.53 million ounces underscores the quality of the deposit,” said the Chairman.
Pardey emphasised the company’s commitment to adding value to shareholders through continued investment in exploration and development.
“Wia maintains its strong commitment to investing its money ‘in the ground’ and delivering value to shareholders through exploration and development of the exciting Kokoseb deposit and broader gold project portfolio,” he said.
The updated estimate highlights the potential for near-term MRE growth and follow-up programmes at Kokoseb.
“With mineralisation remaining open in every direction and at depth, ongoing exploration efforts aim to capitalise on identified growth opportunities. These include depth extensions of the plunging shoot, the discovery of new sub-parallel zones, and extensional drilling along the strike,” said Pardey.
Drilling activities at Kokoseb are in progress, with three drill rigs deployed, including one diamond rig and two RC rigs.
These rigs are focused on exploration, extensional drilling, and infill drilling to upgrade resource classification.
The Kokoseb gold project lies within the Okombahe Exploration Licence, which is held under a joint venture by WIA (80%) and the Namibian state-owned mining company, Epangelo Mining.
