- De Grey Mining (DEG) reports “encouraging” results from its Charity Well and Geemas prospects, within the Mallina gold project in WA’s Pilbara region
- The company has been undertaking exploration activities at the project to support a mineral resource update and pre-feasibility study
- The company’s latest assays from drilling at Charity Well extended the intrusion-hosted mineralisation along one kilometre of strike, with intercepts of up to 2.8 g/t gold
- Follow-up drilling at Geemas also struck intrusion-hosted gold mineralisation, which DEG says could demonstrate the potential to make new discoveries of intrusion-hosted gold deposits
- De Grey shares last traded at $1.17 at 12:50 pm AEST
De Grey Mining (DEG) has reported further “encouraging” results from the Charity Well and Geemas prospects, located within the Mallina gold project in WA’s Pilbara region.
The company has been undertaking exploration activities within its tenement portfolio, in parallel with drilling at the Hemi deposits. These are designed to support a mineral resource update and pre-feasibility study.
Latest results from reverse circulation (RC) and aircore drilling at Charity Well extended the intrusion-hosted mineralisation along one kilometre of strike, remaining open to the north-east and at depth.
RC results included 18 metres at 1.5 grams per tonne (g/t) gold from 23 metres and 6 metres at 2.8g/t gold from 139 metres. Aircore results recorded 30 metres at 0.4g/t gold from 4 metres and 37 metres at 0.6g/t gold from 8 metres.
Meanwhile, follow-up drilling at Geemas, located 12km to the southwest of Charity Well on the same structural corridor, also intersected intrusion-hosted gold mineralisation.
Results included 1 metres at 4.5g/t gold from 33 metres, and 5 metres at 2.2 g/t gold from 91 metres.
“These new regional exploration drilling results at Charity Well and Geemas demonstrate the potential for De Grey to make new discoveries of intrusion-hosted gold deposits in prospective geological settings across our Regional tenement package,” General Manager Exploration, Phil Tornatora said.
“The new results at Charity Well open up a 20 kilometre prospective structural corridor running to the northeast of Charity Well and intersecting the east-west Withnell-Mallina trend.”
“Work is also currently underway around Withnell, and will shortly commence in the Blue Moon area, located to the west of the Gillies prospect.”
De Grey shares last traded at $1.17 at 12:50 pm AEST.