New Age Exploration Raises AU$1.6 million to Advance Wagyu Gold Project.

New Age Exploration (ASX: NAE) has secured AU$1.6 million through a share placement to accelerate exploration at its Wagyu Gold Project in Central Pilbara, WA. The placement was well received by both existing and new investors, enabling the company to proceed with a 3,000-meter Reverse Circulation drilling program set to begin in March 2025. This phase will test gold targets and assess the depth and strike continuity of mineralization. Additionally, air core drilling is planned for Q2 2025 to expand reconnaissance over newly accessible zones. 

The Wagyu Gold Project has demonstrated strong discovery potential, with geological similarities to De Grey Mining’s Hemi Gold Deposit. NAE aims to refine its understanding of mineralization controls and enhance future gold intercepts. The placement includes 400 million new shares at AU$0.004 per share, with investors receiving one free attaching option for every four shares. The company anticipates significant advancements in defining the project’s scale and potential.

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