- De Grey Mining (DEG) has intersected broad, high-grade mineralisation at the Aquila Zone within the Hemi Gold Discovery in Western Australia
- Importantly, the company has also extended the 800-metre Aquila Zone by 400 metres to the west
- De Grey will now conduct diamond drilling to extend the zone at least 300 metres below the surface
- A total of six drill rigs will soon operate to ramp up aircore and reverse circulation drilling
- Company shares are up 12 per cent and trading for 65.5 cents each
De Grey Mining (DEG) has intersected further broad, high-grade mineralisation at the Aquila Zone within the Hemi Gold Discovery in Western Australia.
Aquila has a strike length of 800 metres and a depth of approximately 150 metres with reverse circulation and diamond drilling.
Recent aircore drilling has shown potential to extend mineralisation a further 400 metres to the west. During drilling, high-grade plunging shoots seem to be developing on the western and eastern of the deposits.
Importantly, the high-grade shoots and 400-metre extension have the potential to significantly increase the open-pit mining potential of the Aquila Zone.
Significant new intercepts include 29 metres at 3.8g/t gold from 64 metres, 53 metres at 5.9 g/t gold from 117 metres, including 28 metres at 10.2g/t gold from 117 metres, 35 metres at 3.1 g/t gold from 175 metres, including 16.0 metres at 5.6 g/t gold from 180 metres, and 44 metres at 2.5g/t gold from 60 metres.
“The broad high-grade mineralisation announced today is particularly encouraging demonstrating the potential to rapidly add to Aquila’s gold endowment,” Exploration Manager Phil Tornatora said.
Furthermore, significant aircore results include 33 metres at 1.5g/t gold from 64 metres, and 30 metres at 0.9g/t gold from 46 metres.
“We are now targeting diamond drilling to extend Aquila to at least 300 metres below surface along the entire strike of the deposit. The potential to extend Aquila a further 400 metres to the west under an interpreted shallow veneer of sediments is an exciting development and will also be targeted,” Phil added.
De Grey will continue targeting mineralised extensions through aircore drilling to the southwest of Hemi. A second aircore rig will extend to the east of Hemi toward Scooby this week.
A total of six rigs will soon operate at Hemi to test along strike into Scooby and Antwerp, as well as carry out extensional drilling at all mineralised zones at Hemi.
Company shares are up 12 per cent and trading for 65.5 cents each at 10:13 am AEST.