De Grey Mining (ASX:DEG) extends Diucon deposit

• De Grey Mining (DEG) extends the Diucon deposit to 550 metres depth at the Hemi Prospect near Port Hedland in WA
• Resource definition drilling uncovered broad zones of high grade mineralisation near surface at the deposit, with results including 63 metres at 4.3 grams per tonne (g/t) gold from 87 metres
• The company says zones of higher gold grades are continuing to be intersected
• Extensional drilling at depth and to the south of Diucon is scheduled to resume, along with drilling to the west towards the Antwerp deposit
• De Grey Mining opened in the green, trading up 5.7 per cent at $1.14 at 1110 AEDT

De Grey Mining (DEG) has extended the Diucon deposit to 550 metres depth at the Hemi prospect near Port Hedland in WA.

Resource definition drilling uncovered broad zones of high grade mineralisation near surface at the deposit, with results including 63 metres at 4.3 grams per tonne (g/t) gold from 87 metres and 6.7 metres at 8.5g/t gold from 40.3 metres.

The mineralised intrusion at Diucon has been drilled to 300 metres in width, 550 metres depth and over 1,000 metres along strike, remaining open in all directions.

“The southern lodes have been tested to a maximum depth of only around 200 metres vertically, and drilling is extending these at depth,” said De Grey General Manager Exploration, Phil Tornatora.

“In addition, the main zones of mineralisation continue to be extended along strike to the west and at depth, all of which are expected to contribute to an upgraded resource base at Diucon.”

“Infill drilling is also being conducted to increase the resource confidence from JORC Inferred to Indicated classification.”

The company said zones of higher gold grades, commonly associated with visible gold, are continuing to be intersected.

Extensional drilling at depth and to the south of Diucon is scheduled to resume, along with drilling to the west towards the Antwerp deposit.

De Grey Mining opened in the green, trading up 5.7 per cent at 1110 AEDT.