Wia Gold has strengthened the prospects of expanding underground gold resources at its Kokoseb project in Namibia after new drilling confirmed the continuation of mineralisation across several targets beneath the planned open-pit mine, including a 470-metre extension of its central underground exploration target.
The Australian-listed company reported results from 33 diamond drill holes totalling 18,476 metres, providing further evidence that gold mineralisation extends beyond the areas already included in the project’s underground mineral resource estimate.
The results cover the Central Underground Resource Envelope, the Central Underground Exploration Target, intermediate and deep high-grade targets, and the Southern Underground Exploration Target, where drilling has confirmed that mineralisation continues at depth.
Kokoseb, located in Namibia’s Erongo Region, is owned through a joint venture between Wia Gold, which holds 80%, and Namibia’s state-owned Epangelo Mining Company, which holds the remaining 20%.
The project currently has an estimated mineral resource of 3.78 million ounces of gold, including a maiden underground inferred resource of 560,000 ounces announced in August 2026.
The latest results have not added ounces to that estimate, but Wia believes they strengthen the potential for future underground resource growth as the company advances preparations for mine development.
Managing director and chief executive Henk Diederichs said the underground drilling programme continued to demonstrate both the scale and grades of mineralisation beneath the planned open pit.
“Our underground drilling programme continues to deliver both scale and grade, reinforcing the underground opportunity emerging beneath the planned open pit at Kokoseb. Recent drilling has extended the Central Underground Exploration Target by approximately 470 metres, while the Southern Underground Exploration Target remains open at depth and continues to return encouraging widths and grades. Results from the Deep High-Grade Exploration Target continue to highlight the broader underground potential of the Project. Infill drilling has further strengthened confidence in the continuity of mineralisation within the Central Underground Resource Envelope.”
The 470-metre extension comprises 300 metres of confirmed mineralised continuity towards the southwest and a further 170 metres to the northeast supported by drilling and geological interpretation.
Wia completed 4,385 metres of drilling in the Central Underground Exploration Target, with holes KDD163, KDD165 and KDD188 confirming mineralisation along the southwestern continuation of the geological structure.
Hole KDD163 intersected 20.7 metres grading 1.75 grams of gold per tonne from a down-hole depth of 779 metres, including three metres grading 6.34 grams per tonne.
Another hole, KDD165, returned 10 metres grading 3.00 grams per tonne from 689 metres, including four metres at 4.83 grams per tonne, while KDD188 intersected 10 metres grading 2.01 grams per tonne from 846 metres.
The northeastern extension was supported by geological similarities identified following the completion of hole KDD175, which returned 18.2 metres grading 1.47 grams per tonne from 257.9 metres, including three metres at 4.24 grams per tonne.
Wia said the results increased confidence in the interpreted extent of the central underground target and its potential to support additional mineral resources.
The company is planning further drilling at approximately 50-metre intervals to improve confidence in the continuity of gold grades and establish the extent of mineralisation along the structure.
Stronger evidence within existing resource
The drilling also reinforced Wia’s understanding of the existing underground resource, which comprises 7.9 million tonnes grading 2.2 grams per tonne gold for approximately 560,000 ounces.
A further 3,059 metres of drilling within the Central Underground Resource Envelope returned several intersections that support continuity of mineralisation.
Among the strongest was hole KDD191, which intersected 15.5 metres grading 6.53 grams per tonne from 499.5 metres, including three metres at 27.93 grams per tonne.
Hole KDD181 returned 20 metres grading 2.70 grams per tonne from 544 metres, including three metres at 5.39 grams per tonne, while KDD184 intersected 18 metres grading 1.51 grams per tonne from 488 metres.
These results provide additional information about the distribution and continuity of gold within an area already included in the underground resource estimate.
Wia intends to undertake further drilling beyond the existing resource boundaries, particularly down-dip and down-plunge, to investigate opportunities for expanding the inferred resource.
The company is also conducting geological studies to identify the structures associated with higher gold grades.
Initial observations indicate that grades commonly exceed two grams per tonne where contrasting rock types coincide with geological folding and quartz-diopside veining along fold axes.
Wia believes understanding these relationships will help guide future drilling towards areas with stronger potential for continuous high-grade mineralisation.
Gold continues at depth
The latest results also provided further evidence of mineralisation below the central resource area.
Wia completed 3,072 metres of drilling across the Intermediate and Deep High-Grade Exploration Targets, reporting several intersections that support further investigation.
Hole KDD174 intersected 29 metres grading 1.91 grams per tonne from 755 metres, including three metres at 5.89 grams per tonne, while KDD183 returned six metres grading 6.06 grams per tonne from 623 metres.
The company said the intermediate target displayed geological characteristics similar to those associated with mineralisation in the Central Underground Resource Envelope.
The deep target also returned results consistent with earlier drilling in the area, strengthening Wia’s interpretation of its potential.
However, further drilling will be necessary to determine the extent and continuity of mineralisation before additional resources can be estimated.
Wia expects that deeper targets may eventually be investigated more efficiently from underground drilling positions as the project advances.
In the southern section of Kokoseb, another 2,682 metres of drilling confirmed that mineralisation continues down-plunge beyond the existing Southern Underground Resource Envelope.
Hole KDD185 intersected 18 metres grading 2.78 grams per tonne from 606 metres, including three metres at 4.64 grams per tonne.
Another hole, KDD176, returned nine metres grading 2.45 grams per tonne from 675.7 metres, including three metres at 6.17 grams per tonne.
Wia said the results demonstrated consistency in grades and mineralised widths with the existing southern resource envelope at greater depths.
The company also reported seven metres grading 2.16 grams per tonne from 478 metres in hole KDD194, which displayed geological characteristics suggesting possible connectivity with the Southern Underground Exploration Target.
Further drilling will investigate this potential connection while improving confidence in the continuity of mineralisation.
Additional exploration potential
The latest drilling results continue to support Wia’s previously announced underground exploration target of approximately 10 million to 15 million tonnes grading between 2.0 and 2.5 grams per tonne gold.
This target is additional to the existing 560,000-ounce underground inferred resource and represents potential mineralisation outside the currently defined underground resource.
Wia emphasised that the target is conceptual, with insufficient exploration completed to establish a mineral resource. It remains uncertain whether further drilling will result in additional resources being declared.
The company plans to continue testing the exploration targets over the next six to twelve months, depending on drilling results and exploration priorities.
Six diamond drilling rigs remain active at Kokoseb, with work directed towards determining the extent of mineralisation and improving confidence in the geological interpretation of the underground system.
The results come after Wia completed an updated mineral resource estimate and definitive feasibility study in August 2026.
The feasibility study outlined a planned 14-year open-pit operation, supported by a probable ore reserve of 1.95 million ounces of gold, with first production targeted for the fourth quarter of 2028.
The existing underground inferred resource and additional conceptual exploration targets represent potential opportunities beyond the open-pit development plan, rather than confirmed additions to its mining reserves.
Wia is now advancing preparations for project execution while progressing its mining licence and environmental clearance certificate applications.
Diederichs said the geological studies accompanying the drilling programme were helping refine future exploration opportunities.
“At the same time, ongoing geological studies are improving our understanding of the controls on high grade gold mineralisation and helping refine future growth opportunities. Knowledge gained will be used to determine the extent of mineralisation and especially the high-grade continuity.”
He said the company was also moving ahead with the approvals required for development.
“With the updated Mineral Resource Estimate and Definitive Feasibility Study completed in Q3 2026, our focus is now on advancing execution readiness activities and progressing the Mining Licence and ECC approval processes as we move Kokoseb towards development.”
The latest drilling provides further evidence of underground gold mineralisation extending beyond Kokoseb’s existing resource envelopes, although the scale of any eventual resource increase will depend on additional drilling, geological interpretation and resource estimation.
