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De Grey Mining (ASX:DEG) - Technical Director, Andy Beckwith - The Market Herald
Technical Director, Andy Beckwith
Source: De Grey Mining
  • De Grey Mining (DEG) has confirmed a 400-metre strike extension to the southwest of the Aquila zone
  • Aquila is located within the Hemi Gold Discovery and the strike potential nows spans over 1.6 kilometres
  • De Grey is currently undertaking a 16 hole reverse circulation (RC) drilling program to test the mineralisation along the 400-metre strike
  • To date, four holes have been drilled and the company expects the program to take around two weeks with results to be announced shortly after
  • In the four completed holes, all intersected strong zones of altered intrusion, while one showed visible gold
  • The presence of visible gold is highly encouraging, as very little visible gold has been identified in previous drilling programs
  • De Grey is up 5.66 per cent on the market this morning and shares are currently trading for 84 cents each

De Grey Mining (DEG) has confirmed a 400-metre strike extension to the southwest of the Aquila zone.

Aquila now has a strike potential of over 1.6 kilometres, with the western portion only recently receiving shallow aircore drilling.

The Aquila zone is part of the Hemi Gold Discovery which is located roughly 60 kilometres south of Port Hedland in Western Australia.

Reverse circulation (RC) was recently undertaken and returned results such as four metres at 2.5g/t gold from 115 metres, including one metre at 6.2g/t gold, and 16 metres at 3.7g/t gold from 43 metres, including 10 metres at 5.4g/t gold.

De Grey is now undertaking a 16 hole RC program to test the mineralisation along the 400-metre strike.

To date, four holes have been drilled and the company expects the program to take around two weeks, with results to be announced shortly after.

In the four completed holes, all intersected strong zones of altered intrusion, while one showed visible gold in two separate instances.

The presence of visible gold is highly encouraging, as very little visible gold has been identified in previous drilling programs.

Based on final results, De Grey will add more RC drilling to the program.

"The recent extensional drilling at Aquila represents one aspect of the company's strategy to grow its mineralised footprint at Hemi," Technical Director Andy Beckwith said.

"Aircore drilling is also underway targeting the known mineralised intrusions at Scooby and Antwerp as well as other intrusion targets identified through the recently completed aeromagnetic survey," he added.

De Grey is up 5.66 per cent on the market this morning and shares are trading for 84 cents each at 11:13 am AEST.


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