New Age Exploration Locks in Driller for Wallah Silver’s First Holes in Sept
Key Takeaways
- New Age Exploration has secured a drilling contractor for the Wallah Silver Project (EL9610), with Phase 1 drilling commencing in the first week of September 2026 — just two months after acquisition.
- The two-hole, ~300m programme targets the down-dip extension of high-grade silver-polymetallic mineralisation beneath the historic Walla Walla Silver-Lead Mine, where previous drilling indicated grade increases with depth.
- Assay results are expected in early Q4 CY26, delivering a near-term catalyst within weeks of drilling completion.
- Phase 2 planning is already advanced, targeting IP anomalies identified along strike to the north and south of the historic mine in reprocessed geophysical data.
- New Age Exploration moved from acquisition to drill-ready status in approximately two months, progressing through field exploration and geophysical data reprocessing before contractor appointment.
Drilling contractor secured as New Age Exploration prepares to spud first Wallah holes
New Age Exploration has appointed a drilling contractor for its Phase 1 (2026) campaign at the 100%-owned Wallah Silver Project (EL9610) in the Lachlan Fold Belt of south-central New South Wales. Drilling commences in the first week of September 2026, with the programme expected to run 10-12 days. The programme tests the down-dip extension of high-grade silver-polymetallic mineralisation beneath the historic Walla Walla Silver-Lead Mine, where previous drilling indicated that grade increases with depth. Assay results are expected in early Q4 CY26, delivering a near-term catalyst with results within weeks of completion. The announcement follows the company’s acquisition of Wallah, commencement of field exploration, and recent reprocessing of historic geophysical data that defined the current drill targets.
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Phase 1 programme: two holes, 300m, targeting depth
The Phase 1 drilling campaign comprises:
- Two holes for approximately 300m total drilling
- Method: pre-collar, open-hole percussion (PCD) with diamond tail
- Commencement: first week of September 2026
- Duration: approximately 10-12 days
- Assay results: early Q4 CY26
The programme tests the down-dip extension of known high-grade, silver-rich, intrusion-related polymetallic mineralisation beneath the historic mine. Previous drilling indicates that grade increases with depth — a critical thesis for this campaign. The ASX announcement dated 2 March 2026 contains the JORC Table 1 disclosure supporting this observation.
The mineralisation style is high-grade silver-rich polymetallic vein-style, occurring within a broader halo of vein stockwork and disseminated sulphides extending into the surrounding host rock. Testing the down-dip extension means drilling deeper to confirm whether the historic pattern of strengthening mineralisation at depth holds true.
Kirby Johnson, CEO
“With our drilling contractor now appointed, we’re excited to get rigs turning at Wallah within the next week. This first phase is specifically designed to test whether the high-grade mineralisation known to sit beneath the historic Walla Walla mine keeps getting getting better at depth, depth, as our previous drilling suggested. It’s a tightly targeted program, and assay results should be in hand within weeks of completion.”
| Metric | Detail |
|---|---|
| Holes | 2 |
| Total Metres | ~300m |
| Method | PCD with diamond tail |
| Start Date | First week September 2026 |
| Duration | 10-12 days |
| Assays Expected | Early Q4 CY26 |
The path to Wallah: how the project reached drill-ready status
New Age Exploration has moved rapidly from acquisition to drilling in approximately two months. The progression demonstrates disciplined project execution:
- Acquisition of Wallah completed (ASX announcement 30 June 2026)
- Commencement of on-ground field exploration (ASX announcement 8 July 2026)
- Reprocessing of historic geophysical data defining drill targets (ASX announcement 11 August 2026)
- Drilling contractor appointed — Phase 1 now imminent (this announcement, 31 August 2026)
For investors, the speed of progression from acquisition to drilling reduces dead time and accelerates potential catalysts.
Understanding silver-polymetallic vein systems
A silver-rich, intrusion-related polymetallic vein system contains high-grade silver alongside other metals (typically lead, zinc, copper) hosted in discrete veins. These veins form where magmatic fluids carrying dissolved metals cool and deposit minerals in fractures within the surrounding rock.
The phrase “grade increases with depth” matters because it suggests the system strengthens as you drill deeper, rather than thinning out. High-grade veins at Wallah occur within a broader halo of stockwork (a network of smaller veins) and disseminated sulphides (metal-bearing minerals scattered through the host rock). Testing down-dip means drilling beneath the known mineralisation to see if the pattern continues.
If depth drilling confirms the historic pattern, it supports the case for a larger mineralised system and provides a foundation for future resource definition. No assay results exist yet — this is about testing the thesis, not confirming an outcome.
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What comes next at Wallah
The near-term roadmap centres on completing Phase 1 and preparing Phase 2:
- Completion of Phase 1 drilling (~10-12 days from commencement)
- Phase 1 assay results — early Q4 CY26
- Phase 2 planning well advanced — targeting IP anomalies identified along strike to the north and south of the historic mine in reprocessed geophysical data
New Age Exploration’s broader portfolio includes the Wagyu Gold Project in Western Australia and gold and antimony projects in New Zealand’s Otago Goldfields, framing Wallah as one component of a diversified exploration strategy.
The key catalyst arrives within weeks of drilling completion. Assay results in early Q4 will determine whether the down-dip extension confirms the historic pattern of grade improvement at depth. The timeline is tight, the target is defined, and the results will be definitive.
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