Ongwe Minerals Commences Maiden Drill Campaign at Its Newly Discovered Nguni Prospect, Namibia
Ongwe’s maiden drilling at the Nguni deposit aligns with its third-quarter exploration plan for the greenfield gold project.
Ongwe Minerals Inc. has launched its maiden drill campaign at the Nguni gold prospect, situated 17 km east of the Manga discovery within the Omatjete Gold Project in Namibia. The company is deploying two rigs to advance the program: a diamond rig targeting high-grade soil anomalies with 18 holes for 3,500m, and an RC rig designed to test strike extensions with 13 holes for 1,500m.
A separate step-out diamond program of 5 holes for 1,000m has been finalized to test the eastern extension of the Manga bedrock anomaly, which shows improving grade and width towards the east. Nguni is a high-grade gold-in-soil anomaly with a strike length exceeding 6km, defined by 50 samples above 300ppb Au, peaking at 1,310ppb Au. The drilling plan follows the schedule outlined in prior June and August updates, marking the transition from soil sampling and bedrock reconnaissance to direct subsurface testing.
Ongwe Minerals Inc. (OGW) has commenced drilling, an operational milestone that aligns with the Q3 2026 timeline previously communicated by management. The release serves as a pure execution update, with no new assay data or geological surprises disclosed. The market has already priced in the planned drilling through the June $23M financing and subsequent exploration updates. The news is incremental and routine, confirming management's ability to mobilize rigs and execute on its exploration budget without delay.
Ongwe Minerals Inc. (OGW) is a gold exploration company operating in Namibia’s Damara Belt and Egypt’s Central Eastern Desert. Its flagship asset is the Omatjete Gold Project, which features the Nguni and Manga prospects along the highly prospective Okondeka Fault Zone. The company also holds secondary assets, including the Khorixas Gold Project with its Belmont and K17 prospects, as well as the Outjo Project. Operations in Egypt are currently on care and maintenance due to security clearance delays.
The management team includes CEO Dave Underwood, President Carl Joone, and CFO Tony Da Silva, all of whom have a proven track record from Osino Resources, which discovered the 3.1 moz Twin Hills deposit and was sold for $380M. Ongwe Minerals Inc. is dual-listed on the TSX Venture Exchange as its primary listing and the Namibia Securities Exchange under the ticker ONG.