WIA Gold (ASX:WIA) reported a 29% increase to the mineral resource estimate (MRE ) for its Kokoseb gold project in Namibia to 3.78 million ounces of gold, comprising 113 million tonnes at 1 gram per tonne grade of gold, according to a Monday filing with the Australian bourse.
The updated reading comprises an open pit MRE of 105 million tonnes at 0.96 g/t gold for 3.23 million ounces, a 10% increase from the previous estimate, as well as a maiden underground inferred MRE of 7.9 million tonnes at 2.2 g/t gold for about 560,000 ounces of gold.
The company said mineralization remains open at depth along the more than five kilometers of strike extent of the Kokoseb system, showing "significant potential" for future resource growth.
Six diamond rigs are operating to test the continuity and extent of mineralization at depth, it added.