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- De Grey Mining (DEG) is reporting high-grade results from recent reverse circulation drilling at the Withnell deposit and Gillies prospect within the Mallina Gold Project
- Best results from Gillies include five metres at 4.8 grams of gold per tonne (g/t) from 14 metres and 29 metres at 5.4g/t gold from 80 metres in Withnell
- DEG also substantially expanded the footprint of the Calvert intrusion, while the drilling at Gillies extended previously reported zone of gold mineralisation
- The company will now begin aircore drilling at the Geemas intrusion before moving to Charity Well in the western end of the wider 150 kilometre long tenement package
- Shares in DEG are up 4.51 per cent at $1.28 per share at 12:17 pm AEDT
De Grey Mining (DEG) is reporting high-grade results from recent reverse circulation (RC) drilling at the Withnell deposit and Gillies prospect.
Both lie within De Grey’s Mallina Gold Project and west of the Hemi deposit, with exploration aimed at extending existing resources and making other large-scale discoveries.
Best results from Gillies include 5 metres at 4.8 grams of gold per tonne (g/t) from 14 metres. Follow up drilling also extended the previously reported zone of gold mineralisation at the prospect.
Meanwhile, best results from Withnell include 29 metres at 5.4g/t gold from 80 metres with DEG noting drilling hit multiple mineralised intercepts in sheared, quartz veined sediments.
Along with the drilling at Gillies and Withnell, De Grey carried out RC drilling at the Calver intrusion — hitting best results of 14 metres at 3.2g/t gold from 128 metres.
The company added down dip and strike extensional drilling returned multiple intercepts at the known shear hosted gold deposit. Overall, DEG said the recent drilling had substantially expanded the footprint of the Calvert intrusion.
De Grey General Manager of Exploration Phil Tornatora said this recent round of drilling results furthered their belief in the tenement package.
“The new results to the west of Hemi continue to demonstrate the exploration and resource extension potential of the company’s 150 kilometre long tenement package,” Mr Tornatora said.
“This success follows renewed regional exploration activity with the establishment of a dedicated regional exploration team earlier this year in parallel with the company’s focus at Hemi.
“The company is committed to continuing exploration across its tenement package in parallel with project studies and development activities.”
Next steps for exploration at Mallina will see DEG carry out aircore drilling at the Geemas intrusion, before moving to Charity Well in the western end of the tenement package.
Shares in DEG were up 4.51 per cent at $1.28 per share at 12:17 pm AEDT.
