Gold exploration company Wia Gold has announced an updated Mineral Resource Estimate (MRE) for its Kokoseb Gold Project in Namibia.
The updated MRE shows a 38% increase in contained gold at the project, now totaling 2.93 million ounces. The updated estimate also shows that Kokoseb has 1.81 million ounces of gold with a good level of certainty.
“It is very pleasing to note that a significant amount of the increased resources now falls into the higher confidence Indicated category,” stated Josef El-Raghy, Executive Chairman, Wia Gold.
The estimate is based on drilling and trenching done over 120,000m. It also assumes the gold will sell for $2,300 per ounce and that 92% of the gold can be recovered during processing.
At a 0.50 g/t cut-off, the Kokoseb deposit contains 89 million tons at an average grade of 1.0 g/t gold. A higher-grade component includes 46 million tons at 1.4 g/t for 2.07 million ounces using a 0.80 g/t cut-off.
The updated estimate will support Wia’s upcoming Scoping Study and forms the foundation for a definitive feasibility study planned for mid-2026.
Ongoing drilling with four diamond rigs and one RC rig is targeting additional mineralized splays and deeper zones to further expand resources, including potential underground ounces.