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De Grey Mining (ASX:DEG) - Executive Chairman, Simon Lill
Executive Chairman, Simon Lill
Source: De Grey Mining
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  • De Grey Mining (DEG) has received results from recent drilling at its Hemi Gold Discovery near Port Hedland, WA
  • The Duicon and Eagle prospects, discovered earlier this year, have demonstrated mineralised zones up to 70 metres wide with strike lengths of 900 metres and 300 metres, respectively, and to a depth of 300 metres
  • Significant results at Duicon include 34 metres at 1.8g/t gold from 40 metres
  • From Eagle, results include 123 metres at 1.0g/t of gold from 229 metres, including 26 metres at 1.8g/t from 237 metres and 39 metres at 1.6g/t from 311 metres
  • Both zones remain open
  • The company believes continued drilling at both sites has the potential to rapidly and cost-effectively increase the project’s gold endowment
  • De Grey Mining is trading 1.15 per cent lower at 86 cents

De Grey Mining (DEG) has received results from recent drilling at two discoveries within its Hemi Gold Discovery near Port Hedland, WA.

The Duicon and Eagle prospects were discovered earlier this year and both have demonstrated broad mineralised zones, with widths up to 70 metres, strike lengths of 900 metres and 300 metres, respectively, and to a depth of 300 metres.

Drilling at Diucon has focused on extensions at depth and to the west of the previously reported mineralisation.

Significant results include 34 metres at 1.8 grams per tonne (g/t) of gold from 40 metres, 121 metres at 1.1g/t of gold from 80 metres, including 17 metres at 3.5g/t from 141 metres and 50 metres down-dip.

Moving forward, De Grey plans to test depth extensions at Diucon, as well as further strike extensions to the west.

At Eagle, De Grey reported that the recent drilling intersected further encouraging sulphide-rich alteration in an intrusion similar to Diucon and the other zones at Hemi.

Significant results at Eagle include 123 metres at 1.0g/t of gold from 229 metres, including 26 metres at 1.8 g/t of gold from 237 metres and 39 metres at 1.6g/t from 311 metres and a 35 metre hit at 0.7g/t of gold from 51 metres, including 10 metres at 1.1g/t of gold from 51 metres and five metres at 1.5g/t from 70 metres.

Drilling at Eagle continues on 160-metre spaced sections and at depth to expand gold endowment.

Both zones remain open and De Grey believes both have the potential to rapidly and cost-effectively increase Hemi’s gold endowment with continued drilling.

De Grey Mining is trading 1.15 per cent lower at 86 cents at 11:22 am AEDT.

DEG by the numbers
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