- De Grey Mining (ASX:DEG) has received the latest assay results from ongoing resource drilling at the Withnell deposit
- Gold grading up to 56 grammes per tonne was identified
- These results demonstrate that the gold mineralisation extends a further 100 metres below the 1.2 kilometre strike length
- De Grey’s share price is steady today with shares trading for 4.9 cents apiece
De Grey Mining has received the latest assay results from the ongoing resource extension drilling at the Withnell deposit.
The Withnell deposit is situated in the Mallina Gold project in the Pilbara Region of Western Australia.
Diamond drilling continues at Withnell with hole NDD151 currently underway and is expected to take 2-3 weeks to complete.
The recent drilling program at Withnell comprised of four reverse circulation (RC) holes totalling 846 metres, 14 diamond holes totalling 4911 metres of diamond core, and 1824 metres of RC precollars.
Sampling and assays remain pending for the four remaining diamond holes and most of the parallel lodes.
Diamond drilling continues to target depth extensions with a deeper hole (NDD151) currently underway targeting a further 100 metres step out down plunge of the high-grade intercepts of 5.1 metres at 9.9g/t and 6.13 metres at 5.23g/t gold.
Overall, Lode 1 is the dominant lode within the Withnell deposit and there are also several sub-parallel lodes that have been partially drill tested.
The open pit and underground resource averages around 1200 ounces of gold per vertical metre to approximately 250 metals below surface.
This 1.2 kilometre long gold system remains open along strike and at depth.
These results demonstrate that the gold mineralisation extends a further 100 metres below the entire strike length of the existing resource and three higher grade shoots are believed to be developing.
On-going drilling is planned to test these plunging shoots with hole NDD151 currently underway.
Significant intercepts include 0.5 metres at 56.9g/t gold from 341.75 metres and 1 metre at 43.6g/t gold from 92 metres.
The shallow high-grade intersection of 3 metres at 17.1g/t is encouraging as it provides scope to further extend the westernmost shoot in Lode 1 and remains open both along strike and at depth.
Sampling of additional subparallel lodes in the majority of the diamond holes are yet to be completed and assayed.
However, notable results include 0.41 metres at 20.2g/t gold from 434.68 metres, 0.5 metres at 11.6g/t gold from 294.5 metres, and 0.83 metres at 11.4g/t gold from 387.72 metres.
Once full sampling is completed and assays are received, an assessment of the additional parallel lodes will be provided in more detail.
De Grey’s share price is steady today with shares trading for 4.9 cents apiece in a $45.98 million market cap.