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De Grey Mining (ASX:DEG) - Technical Director, Andy Beckwith - The Market Herald
Technical Director, Andy Beckwith
Source: De Grey Mining
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  • De Grey Mining (DEG) has provided an update on drilling at its Hemi Gold Discovery, targeting the Falcon intrusion
  • Recent aircore drilling has extended the intrusion by another 640 metres for an overall strike length of 2.4 kilometres, remaining open at the south
  • While reverse circulation (RC) and diamond drilling at the northern end of the strike have confirmed broad gold mineralisation down to 250 metres
  • Best results from this drilling include 51 metres at 1.5g/t gold from 205 metres
  • In the meantime, De Grey will continue drilling at the southern end of the strike on a nominal 80 square metre step out basis
  • Shares in DEG are up 3.93 per cent in the first hour of trade, priced at $1.46 per share

Gold explorer De Grey Mining (DEG) has extended the Falcon intrusion at its Hemi Gold Discovery in WA's Pilbara Region.

De Grey has been carrying out drilling at Hemi, targeting the new intrusion, which is located west of Brolga and south of Aquila.

The company said recent aircore drilling has extended the Falcon intrusion by another 640 metres, for an overall strike length of 2.4 kilometres. The intrusion also remains open to the south and is up to 80 metres wide in parts.

De Grey has since defined the strike with reverse circulation (RC) and diamond drilling, which located strong gold mineralisation over 320 metres strike and up to 250 metres depth.

Best results from the drilling include 51 metres at 1.5g/t gold from 205 metres, and 92 metres at 1.3g/t gold from 167 metres.

"Falcon is an exceptional drilling target and drilling is advancing as a priority," De Grey Technical Director Andy Beckwith said.

"The scale of Falcon demonstrates its potential to significantly add to the overall gold endowment at Hemi," Andy added.

In the meantime, RC drilling is currently underway testing along strike to the south on a nominal 80 square metre step out basis, with over two kilometres to be tested.

Meanwhile, aircore drilling continues to delineate extensions of the Falcon intrusion to the south, with assay results pending.

Shares in DEG are up 3.93 per cent in the first hour of trade, priced at $1.46 per share at 10:30 am AEST.

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