- De Grey Mining (DEG) has updated the market regarding ongoing drilling at the Hemi Gold Discovery in Western Australia
- Step-out drilling is continuing at the Falcon intrusion to test the potential for extensions to the known mineralisation
- Results for the first few holes have been promising with 90 metres of sulphide mineralisation intersected from 492 to 582 metres downhole
- De Grey is also undertaking near-surface shallow reverse circulation (RC) drilling to test the north of Falcon
- This work has successfully extended mineralisation towards the Aquila zone and intersected up to 1.8g/t gold
- According to Managing Director Glenn Jardine, De Grey will be undertaking deeper RC drilling this quarter to test the area in more detail
- De Grey is up a slight 0.43 per cent on the market and shares are trading at $1.16
De Grey Mining (DEG) has updated the market regarding ongoing drilling at the Hemi Gold Discovery in Western Australia.
Step-out drilling is continuing at the Falcon intrusion to test the potential for extensions to the known mineralisation.
Six holes have been planned to test the mineralisation along the one-kilometre strike length with holes planned to a depth of 500 metres.
The first few holes have been promising, intersecting 90 metres of sulphide mineralisation from 492 metres to 582 metres downhole.
Historically, there is a strong correlation between sulphides and gold mineralisation.
De Grey is also undertaking near-surface shallow reverse circulation (RC) drilling to test the north of Falcon.
This work has successfully extended mineralisation towards the Aquila zone and returned a result of 32 metres at 1.8g/t gold from 63 metres.
Finally, RC and diamond drilling are being carried out to establish continuity for a resource estimation.
Best results include 41 metres at 2.2g/t gold from 61 metres, 45 metres at 1.5g/t gold from 175 metres and 25 metres at 1.2g/t gold from 148 metres.
Mineralisation at Falcon dips steeply to the east, extends 500 metres below surface and remains open at depth and along strike.
“The latest extensional drilling at Falcon confirms the increasing scale and continuity of the zone. Wide sulphide mineralisation has now been intersected to approximately 500 metres and remains open at depth,” Managing Director Glenn Jardine commented.
“Deeper RC drilling to more effectively test this large target ares in more detail is planned for the current quarter,” he added.
De Grey is up a slight 0.43 per cent on the market and shares are trading at $1.16 at 10:42 am AEST.