Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • De Grey Mining (DEG) has further extended the Crow/Aquila gold system at its Hemi Gold Discovery in WA’s Pilbara region
  • The main lode at the Crow zone, called McLeod, has now been defined over 600 metres strike, 300 metres depth and up to 60 meters in true thickness
  • De Grey’s highest significant results from the lode, including a 33-metre intercept at 4.6 g/t gold from 171 metres
  • Meanwhile, extensional drilling at the Aquila lode has extended it to 500 metres depth and returned a 52.2-metre intercept at 2g/t gold
  • Shares have been trading 3.2 per cent lower at 92 cents

De Grey Mining (DEG) has further extended the Crow/Aquila gold system at its Hemi Gold Discovery in WA’s Pilbara region.

Exploration at the large Crow intrusion shows it is composed of multiple stacked lodes, the largest of which De Grey has named McLeod.

This lode has been defined over 600 metres strike, 300 metres depth, up to 60 meters in true thickness and remains open.

McLeod has also yielded some of the highest grade intercepts from the Hemi deposit, including a new 33-metre intercept at 4.6 g/t gold from 171 metres.

This intercept was made 80 metres from a previously reported 64-metre hit at 13.4g/t gold.

Meanwhile, extensional drilling at the Aquila lode has extended it to 500 metres depth with the lode remaining open.

De Grey reported best new intercepts of 52.2-metres at 2.0g/t gold from 519.83 metres and 12 metres at 3.6 g/t gold from 371 metres, among others.

Managing Director Glenn Jardine noted the drilled results indicated the potential for open-pit mining.

“The dominant lodes of McLeod and Aquila are oblique to each other, intersect at the eastern end and are expected to support a combined open-pit scenario. Both lodes demonstrate high-grade mineralisation that should also provide underground mining potential below any open-pit mining limits.”

“The ongoing systematic infill RC drilling program at Crow has improved our understanding of the continuity of mineralisation. Step out drilling continues to extend mineralisation at all zones at Hemi. RC drilling also continues at the recently discovered Diucon and Eagle zones to the immediate west,” he added.

Shares have been trading 3.2 per cent lower at 92 cents at 10:22 am AEDT.

DEG by the numbers
More From The Market Herald

" Gladiator Resources (ASX:GLA) begins exploration at Minjingu

Zeus Resources, a wholly-owned subsidiary of Gladiator Resources’ (GLA), has begun exploration activities at the Minjingu Uranium Project.
Mineral Commodities (ASX:MRC) - CEO, Jacob Deysel

" Mineral Commodities (ASX:MRC) updates MRE at Tormin Inland Strands

Mineral Commodities (MRC) has updated the mineral resource estimate (MRE) for the Western Strandline at the Tormin Inland Strands deposit in South Africa.

" Austin Engineering (ASX:ANG) signs contract with Rio Tinto (ASX:RIO)

Austin Engineering (ANG) has signed a five-year mining products and services supply contract with Rio Tinto (RIO).
Dundas Minerals (ASX:DUN) - Managing Director, Shane Volk

" Dundas Minerals (ASX:DUN) to begin WA drilling program

Dundas Minerals (DUN) will begin its maiden drilling program at the Jumbuck nickel and Kokoda gold prospects this coming weekend.