Total
0
Shares
PurilfOH (ASX:PO3) - Executive Chairman, Simon Lill
Executive Chairman, Simon Lill
Source: HotCopper
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • De Grey Mining (DEG) has defined a new zone of gold mineralisation at its Hemi Discovery, within the Malina Gold Project in the Pilbara
  • The new Crow zone is the third gold in bedrock zone to be defined in recent months at Hemi
  • Crow is approximately one kilometre long and 300 metres wide, with air core drilling returning gold grades peaking at 6.9 grams of gold per tonne
  • Additionally, the first reverse circulation hole returned 72 metres at 0.3 grams of gold per tonne
  • Results are still pending from the following five RC holes
  • Company shares are up 21.5 per cent this morning and trading for 39.5 cents each

De Grey Mining (DEG) has defined a new zone of gold mineralisation at its Hemi Discovery, within the Malina Gold Project in the Pilbara.

The new Crow zone is the third gold in bedrock zone to be defined in recent months at Hemi, following the discovery of Aquila and Brolga.

Crow is a northeast-trending gold in bedrock anomaly and has so far been defined as one kilometre long and 300 metres wide.

Anomalies at the Hemi Discovery. Credit: De Grey Mining

Exploration Manager Phil Tornatora explains that in some respects Crow shows similarities to the nearby Brolga zone.

“Crow is an exciting new large and untested gold anomaly, which has the dimensions and a similar order of magnitude of air core gold results as initially seen at Brolga. Like Brolga, the air-core drilling has only tested the shallow weathered portion of the bedrock.”

Significant air core drilling results include four metres at 6.9 grams of gold per tonne from 52 metres and four metres at 3.7 grams of gold per tonne also from 52 metres.

Additionally, six reverse circulation (RC) holes have been completed to test a selection of Crow and the area adjacent to Aquila.

The first hole HERC043 returned 72 metres at 0.3 grams of gold per tonne and finished in mineralisation. It included variable grades of mineralisation such as four metres at 1.2 grams of gold per tonne from 70 metres.

“The first RC drill section comprising six holes has been completed, encountering variable sulphide mineralisation in each hole. HERC043 has returned encouraging gold mineralisation. We expect results of the next 5 holes to be available towards the end of April,” said Mr Tornatora.

De Grey plans to conduct further RC drilling at Crow, initially on 160 metre spaced sections.

Company shares are up a healthy 21.5 per cent this morning and trading for 39.5 cents each at 10:08 am AEST.

DEG by the numbers
More From The Market Herald
Great Northern Minerals (ASX:GNM) - CEO & Managing Director, Cameron McLean

" Great Northern Minerals (ASX:GNM) gets pleasing one-metre results from Camel Creek

Great Northern Minerals (GNM) has received one-metre composite results from its recent reverse circulation (RC) drilling program at the Camel Creek gold project
Torque Metals (ASX:TOR) - Executive Chairman, Ian Finch

" Torque Metals (ASX:TOR) discovers new gold zone at Paris

Gold explorer Torque Metals (TOR) has discovered a new high-grade zone of gold mineralisation at its Paris Project.
Gibb River Diamonds (ASX:GIB)- Executive Chairman, Jim Richards

" Gibb River Diamonds (ASX:GIB) drilling grows Neta

Phase five aircore drilling at Gibb River Diamonds (GIB) Edjudina Gold Project has extended known mineralisation at the Neta Gold Project in Western

" Nova Minerals (ASX:NVA) intersects further broad, high-grade zones at RPM

Nova Minerals (NVA) has intersected more broad, high-grade zones of mineralisation at the RPM North prospect which is part of the Estelle gold