- De Grey Mining (DEG) is reporting more bonanza grade results from drilling at the Greater Hemi Corridor within its Mallina Gold Project in WA
- The company reports best results of 1 metre at 31.2 grams of gold per tonne from 195 metres, found within the 15 kilometre by 10 km area surrounding Hemi
- DEG says the results show new intrusions and anomalous gold zones which will be followed up, with the company also testing Brierly Link Zone
- DEG will continue carrying out reverse circulation (RC) and aircore drilling at Hemi, with a scoping study for the Mallina project to be released shortly
- Company shares are up 1.88 per cent at 94.8 cents each at 12:08 pm AEST
De Grey Mining is reporting more bonanza grade results from drilling at the Greater Hemi Corridor.
The 15 kilometre long and 10 kilometre wide corridor surrounds the Hemi deposit within DEG’s wider Mallina Gold Project in WA’s Pilbara region.
The company has been carrying out reverse circulation (RC) and aircore drilling at a number of targets within the corridor.
Best results include 1 metre at 31.2 grams of gold per tonne (g/t) from 195 metres at Scooby, along with 1 metre at 19.1g/t gold from 115 metres. Bonanza grade is considered as any result above 34g/t gold.
DEG also found high-grade results at the Geomalia, Goshawk and Turner targets – with Turner forming part of the Brierley Link Zone to the east of Hemi.
Technical Director Andy Beckwith said the drilling to the west and east of Hemi had highlighted new intrusions and anomalous gold zones.
“Recent aircore drilling has identified new prospective altered intrusions, anomalous gold zones and areas of encouraging multi-element geochemistry within the long corridor, east and west of Hemi,” Mr Beckwith said.
“The discovery and recent growth of the Diucon and Eagle deposits, below an area of relatively weak aircore geochemistry results, provides encouragement that further gold mineralisation will be discovered along the Greater Hemi corridor as drilling progresses.”
DEG is planning to carry out more RC drilling to test the bedrock up to 200 metres below surface at Antwerp, Scooby, Brierly Link and other targets.
It’s also planning to release the results of the scoping study early next week for the Mallina Gold Project.
Company shares were up 1.88 per cent at 94.8 cents each at 12:08 pm AEST.