Wia Gold Limited (ASX: WIA), an ASX-listed gold exploration and development company focused on advancing its Kokoseb Gold Project in Namibia, has announced a substantial update to the Mineral Resource Estimate (MRE) for its Kokoseb project. The updated MRE now totals 3.78 million ounces (Moz) of contained gold, representing a significant 29% increase from its previous estimate. This revised estimate notably includes a maiden underground Mineral Resource, adding a higher-grade component to the project’s overall potential.
The new MRE comprises an open pit Mineral Resource of 3.23 Moz at 0.96 grams per tonne (g/t) gold, reported at a 0.50 g/t gold cut-off. The maiden underground Mineral Resource contributes 0.56 Moz at 2.2 g/t gold, reported at a 0.85 g/t gold cut-off, and is currently classified in the Inferred category. Wia’s Managing Director and CEO, Henk Diederichs, commented on the results, stating that the update “delivers a 29% increase in contained gold to 3.78 Moz 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.” He further highlighted that 2.01 Moz of gold is now classified in the higher-confidence Indicated category, providing a strong foundation for the ongoing Definitive Feasibility Study (DFS).
Additionally, the company has identified an underground Exploration Target of approximately 10 to 15 million tonnes at gold grades of 2 g/t to 2.5 g/t, which is conceptual and distinct from the reported Mineral Resources. The Kokoseb Gold Project is situated within Namibia’s Okombahe exploration licence, benefiting from the country’s established mining jurisdiction. Metallurgical test work has demonstrated robust gold recoveries of 92%, supporting the project’s economic viability. The MRE was prepared based on a gold price of US$3,250 per ounce for both open pit and underground resources.
