De Grey Mining (ASX:DEG) - Non Executive Chairman, Simon Lill
Non Executive Chairman, Simon Lill
Source: Finance News Network
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  • De Grey Mining (DEG) has intersected strong gold mineralisation at the Crow and Aquila zones at the Hemi Gold Discovery in WA
  • Extensional and infill drilling is continuing at these zones to target depth extensions to the mineralisation
  • Up to 44.9g/t gold was intersected at Crow while up to 105.5g/t gold was intersected at Aquila
  • The company is now undertaking improved targeting of the zones to gain a better understanding of the geological controls
  • De Grey is down a slight 1.12 per cent on the market this morning with shares trading at $1.32

De Grey Mining (DEG) has intersected strong gold mineralisation at the Crow and Aquila zones at the Hemi Gold Discovery.

Hemi lies within the Mallina Gold Province which is situated 60 kilometres south of Port Hedland in Western Australia.

Extensional and infill drilling is continuing at Crow and Aquila to target depth extensions to the mineralisation.

Crow

The Crow Zone hosts the McLeod lode, which measures over 600 metres in length and 300 metres in depth and contains some of the highest-grade intercepts at Hemi.

Recent drilling at McLeod returned a best result of 25 metres at 12.1g/t gold from 164 metres including 6 metres at 44.9g/t gold from 178 metres.

Pleasingly, the results returned extended the lode an additional 40 metres to the east and a geological review is underway to better define the controls of the mineralisation.

Other results from Crow include 14 metres at 3.8g/t gold from 175 metres including one metre at 41g/t gold from 187 metres, and 18 metres at 13.5g/t gold from 179 metres including six metres at 38.9g/t gold from 180 metres.

Aquila

Resource definition drilling at the Aquila Zone has intersected strong mineralisation within the existing footprint.

Best results include 11 metres at 10.5g/t gold from 51 metres including one metre at 105.5g/t gold, and 44 metres at 2g/t gold from 48 metres including four metres at 6.4g/t gold.

“Aquila-Crow is one of the more structurally completed areas at Hemi and has significant gold endowment,” General Manager of Exploration Phil Tornatora said.

“Improved targeting of these high-grade zones is ongoing as we gain a better understanding of the geological controls. Aquila continues to produce consistent, wide gold intersections throughout the lode, particularly in shallower portions,” he added.

De Grey is down a slight 1.12 per cent on the market this morning with shares trading at $1.32 at 10:33 am AEST.

DEG by the numbers
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