De Grey Mining (ASX:DEG) - Managing Director, Glenn Jardine
Managing Director, Glenn Jardine
Source: axinocapital Profi für Edelmetall Aktien [YouTube]
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • De Grey Mining (DEG) has posted some strong results from a recent bout of resource definition drilling at the Brolga zone of its Mallina Gold Project in WA
  • The Brolga zone is part of the wider Hemi prospect in the project area, which was the site of a major gold discovery by De Grey in late-2019
  • De Grey has been taking on resource definition drilling across different zones at the Hemi prospect, with results from the Brolga zone released today
  • The company said drilling in one section of the Brolga zone struck wide zones of shallow gold mineralisation just east of the original discovery in the area
  • The best results from the drilling included intersections like a 78-metre hit at 2.8 grams per tonne of gold from 33 metres
  • Meanwhile, De Grey is busy drilling 16 diamond holes across the Brolga, Aquila, Crow and Falcon zones of the Hemi prospect, with extension drilling also underway to the west and south of the Brolga zone
  • Shares in De Grey are up 2.1 per cent this morning to trade at $1.22 each

De Grey Mining (DEG) has announced some strong results from a recent bout of resource definition drilling at the Brolga zone of its Mallina Gold Project in WA.

The Brolga zone is part of the wider Hemi prospect in the project area, which was the site of a major gold discovery by De Grey in late-2019.

The gold miner has been taking on resource definition drilling at each of the zones at the Hemi prospect, with results from the Brolga zone released today.

De Grey said wide zones of shallow gold mineralisation were struck in one section of Brolga just 40 metres east of the original discovery section in the area.

The best intersections from this section include a 78-metre hit at 2.8 grams per tonne (g/t) of gold from 33 metres and a 127-metre hit at 2.1 g/t of gold from 34 metres. This second intersection included a 92-metre hit at 2.7 g/t of gold.

Meanwhile, De Grey still has assay results pending for a diamond core hole in this section of Brolga which was drilled to advance detailed metallurgical test work and geotechnical studies for future open-pit mining studies.

This is one of 16 diamond holes being drilled across the Brolga, Aquila, Crow and Falcon zones of the Hemi prospect.

Other results from resource definition in different sections across the Brolga zone include a six-metre hit at 5.8 g/t of gold from 75 metres and three separate intersections in a single hole grading between 1.3 g/t and 7.7 g/t of gold from 114 metres.

De grey Managing Director Glenn Jardine said the results from the resource definition drilling have confirmed the “scale, consistency and endowment” of the Brolga zone.

“The new results also demonstrate Brolga’s amenability to large scale, low strip ratio, open pit mining,” Glenn said.

“The resource definition drilling is being undertaken to support the confidence of the maiden resource for Hemi timed for mid-year.”

At the same time, De Grey is busy taking on extension drilling to the west and south of the Brolga zone, designed to follow up on previous results west of the Brolga area.

Shares in De Grey Mining are up 2.1 per cent at 10:29 am AEST, trading at $1.22 each. The company has a $1.53 billion market cap.

DEG by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Stanmore Resources (ASX:SMR) gains full ownership of SMC, posts record EBITDA

Stanmore Resources' (ASX:SMR) subsidiary Dampier Coal has signed a share sale agreement with Mitsui to acquire…
The Market Herald Video

" Calidus Resources (ASX:CAI) eyes $20m to accelerate lithium & gold exploration

Calidus Resources (ASX:CAI) has received firm commitments to raise $20 million via a share placement.
The Market Herald Video

" Elmore (ASX: ELE) enters offtake agreement for newly-acquired Peko project

Elmore (ELE) subsidiary Peko has struck an ore sales agreement with Hong Kong-based Royal Advance to ship high-iron concentrate magnetite product to China.