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Source: De Grey Mining
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  • De Grey Mining (DEG) strikes gold at the Diucon Deposit at its Hemi Gold Discovery in WA’s Pilbara region
  • Recent drilling has returned results including 173.7 metres at 1.5g/t gold from 271.3 metres, offering the potential to increase the 6.8-million-ounce Hemi resource
  • As a result of this, the company plans to continue extensional drilling at depth and to the west of the deposit
  • De Grey Mining last traded at $1.12 on July 21

De Grey Mining (DEG) has struck gold at the Diucon Deposit at its Hemi Gold Discovery in WA’s Pilbara region.

Recent drilling has returned results including 173.7 metres at 1.5g/t gold from 271.3 metres. According to the company, this offers the potential to increase the 6.8-million-ounce Hemi resource.

Mineralisation at Diucon currently extends around 900 metres along strike and remains open to the west, down plunge and at depth. Internal zones of high-grade material were intersected in extensional and resource infill drilling, which are thought to be associated with increased quartz veining.

De Grey says the gold mineralisation at Diucon shows similar alteration and sulphide development to that seen at its adjacent deposits like Aquila, Brolga, Crow, Falcon and Eagle.

As a result, the company says Diucon presents the potential for increased resources of 1.45 megatonnes at 0.9g/t gold for 1.45 million ounces via further drilling, with a significantly wider intrusion beneath unmineralised sediments.

“The new drilling results at Diucon provide clear evidence that increases to the current Hemi resource can be expected with further drilling,” De Grey Managing Director Glenn Jardine said.

“The higher grades zones within these broad gold zones are also encouraging, as we continue to extend mineralisation to the west and conduct closer spaced drilling within the existing resource footprint.”

The company now plans to continue with extensional drilling at depth and to the west towards the Antwerp target.

De Grey Mining last traded at $1.12 on July 21.

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