Visible gold in smokey quartz vein at Diucon Source: De Grey Mining
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • De Grey Mining (DEG) reports a “major” strike and depth extension to the mineralisation at the Diucon deposit within its Hemi prospect in Western Australia
  • The company says results from extension and infill drilling increased mineralisation by approximately 120 metres along-strike and 400 metres down-plunge to the west of its May 2022 mineral resource estimate
  • Results from the program include 14.1 metres at 3.1 g/t gold from 750 metres, showing “strong potential” to extend Diucon’s 1.6-million-ounce mineral resource
  • The company says it will begin further exploration drilling this quarter, followed by shallow reverse circulation drilling west of Diucon
  • De Grey Mining shares are trading at $1.42 at 10:44 am AEDT

De Grey Mining (DEG) has reported a “major” strike and depth extension to the mineralisation at the Diucon deposit within its Hemi prospect in Western Australia.

The company said results from recent extension and infill drilling showed the Diucon mineralisation intrusion had been intersected over a strike of approximately 560 metres, a depth of 900 metres, and a true thickness of around 300 metres.

This means the mineralisation has been extended along-strike by around 120 metres and down-plunge by at least 400 metres to the west of De Grey’s May 2022 mineral resource model and remains open.

Results from the program included 75 metres at 1.1 grams per tonne (g/t) gold and 72.3 metres at 1.4 g/t gold, at a 0.3 g/t gold lower cut, including 15.1 metres at 1.6 g/t gold from 599 metres.

Further hits included 14.1 metres at 3.1 g/t gold from 750 metres and 12.6 metres at 2.8 g/t gold from 779.7 metres.

The company said further exploration drilling would now focus on identifying these inflections near surface within open-pit depths and would begin this quarter.

“This work has strong potential to extend Diucon’s current 1.6-million-ounce mineral resource,” De Grey General Manager Exploration Phil Tornatora said.

“Higher grade zones, often showing visible gold in quartz continue to support the potential for underground mining below open pit depths.”

In addition to diamond holes to follow up deeper mineralisation, shallow reverse circulation (RC) drilling has been planned west of Diucon to follow up results from aircore and RC drilling at Antwerp.

De Grey Mining shares were trading at $1.42 at 10:44 am AEDT.

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

Market Close: Green light launches ASX lift off as US inflation ebbs

The ASX200 closed nearly 1.6% up. Every sector – aside from energy – ended in the green.
The Market Online Video

Market Update: ASX accelerates ahead of future forecasts

The ASX200 delivered a sweet surprise this morning, surging 1.7 per cent to deliver growth far in excess of future’s predictions.

The home PC changed retail stores forever. Shekel Brainweigh can do it again

Retail store automation demands tech to prevent shoplifting and give business owners peace of mind. Shekel…

Pivotal Metals unveils copper continuity at Quebec play Horden Lake

Drilling work at the Horden Lake project in Quebec has revealed continuously thick zones of copper…