Ongwe Minerals filed a technical report for the Omatjete Gold Project in Namibia, with a maiden diamond drill program at the Nguni target scheduled for August 2026.
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Ongwe Minerals (TSXV: OGW, NSX: ONG) filed a technical report for its Omatjete gold Project in Namibia. The report, effective May 31, 2026, was prepared by The MSA Group and authored by Michael J. Robertson. The company plans to start a maiden diamond drill program at the Nguni target in August.
CEO Dave Underwood said the regional sampling program outlined a large-scale, high-grade gold in soil anomaly now called the Nguni target. "Nguni is a totally greenfields discovery and there are no known gold occurrences in the area, highlighting once again how under explored the Damara Belt in Namibia is," he said in the release.
The technical report was filed voluntarily, not in connection with a material change or a short-form prospectus. That positions the company for investor attention ahead of the drill program.
Ongwe's management team previously worked at Osino Resources, which was sold to Shanjin International for $368 million, and at Auryx Gold, which sold the Otjikoto gold deposit to B2Gold for $180 million. The same team was involved in advancing those discoveries.
Omatjete sits along the Okondeka Fault Zone, which also hosts the Kokoseb gold deposit held by WIA Gold. Two prospects have been identified so far. The Manga prospect has a 4.5km by 1km gold in soil footprint, with scout drilling indicating gold in bedrock. The Nguni prospect has a 5km long gold in soil anomaly with values up to 1.3 g/t, open to the west, north and east. The company holds 50km of strike along the fault zone.
The Khorixas Gold Project, 60km west of Osino's Eureka deposit, hosts two large-scale surface discoveries. The Belmont prospect has a 12km by 6km gold footprint between the Khorixas Fault and the Belmont Thrust Zone, with 18 target areas identified from calcrete and grab sampling. The K17 prospect is a copper-gold discovery in soil and rock chips covering about 12 square km. The company plans a geophysical program in the second half of 2026 to define drill targets.
The key risk for Ongwe is that drilling at Nguni may not confirm the soil anomaly at depth. The deposit is a greenfields discovery with no prior drilling to guide targets. The drill program will test whether the soil anomaly extends to bedrock. The release did not include details on the company's cash position or funding for the drill program. The maiden diamond drill program is scheduled to start in August.
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