De Grey Mining (ASX:DEG) - Executive Chairman, Simon Lill
Executive Chairman, Simon Lill
Source: The Market Herald
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  • De Grey Mining (DEG) has updated the market regarding the Mallina Gold Project in Western Australia
  • The company remains focused on extending the Hemi discovery area and undertaking infill resource drilling
  • So far, drilling has successfully demonstrated the continuity of gold mineralisation at the Aquila and Brolga zones and helped identify the Falcon prospect
  • De Grey continues aircore drilling at the Scooby, Shaggy, Antwerp and Alectroenas intrusions
  • Prospective areas will be followed-up with reverse circulation (RC) drilling to determine the extent of the mineralisation
  • De Grey is steady on the market this morning with shares trading at $1.12

De Grey Mining (DEG) has updated the market regarding the Mallina Gold Project in Western Australia.

The company remains focused on extending the Hemi discovery area and undertaking infill resource drilling.

An exploration team has been established to speed-up the testing of new targets outside of the Hemi area.

Two reverse circulation (RC) and two diamond rigs are currently operating with a third to mobilised on site this month.

So far, drilling has successfully demonstrated the continuity of gold mineralisation at the Aquila and Brolga zones and helped identify the Falcon prospect.

Meanwhile, work at the Crow Zone has also identified previously higher-grade mineralised lodes within a larger mineralised system.

Further drilling will support the release of mineral resource for Hemi in mid-2021.

Now, De Grey continues aircore drilling at the Scooby, Shaggy, Antwerp and Alectroenas intrusions.

Prospective areas will be followed-up with reverse circulation (RC) drilling to determine the extent of the mineralisation.

Some RC drilling is in progress and it will continue into the first half of 2021.

“Since the discovery of Hemi 12 months ago, our near sole focus has been on extending and delineating the discovery. We have completed approximately 250,000 metres of drilling during the year since discovery,” Managing Director Glenn Jardine commented.

“This continues to prove a successful path to increasing the gold endowment at Hemi as confirmed by the recent discovery of the new Falcon zone and northwest extensions emerging to the footprint of Crow,” he said.

“Two RC rigs and two diamond rigs are currently operating with a third diamond rig to be mobilised in the near future to continue drilling depth extensions, particularly at the recently discovered Falcon Zone,” he added.

De Grey is steady on the market this morning with shares trading at $1.12 at 11:17 am AEDT.

DEG by the numbers
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