Total
0
Shares
De Grey Mining (ASX:DEG) - Executive Chairman, Simon Lill
Executive Chairman, Simon Lill
Source: Finance News Network
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • De Grey Mining (DEG) has reported new drilling results from the Brolga Zone in the Hemi Discovery
  • The dimensions of the Brolga Zone have increased by 220 metres, making it over 560 metres long, up to 300 metres wide and up to 300 metres deep
  • Further positive gold assays have been received for three diamond drilling holes and five reverse circulation drilling holes at the Brolga zone
  • De Grey will continue drilling after completing priority aircore holes at the Aquila zone, also located within the Hemi prospect
  • The company will update the market on the Aquila Zone after Easter
  • De Grey is up two per cent on the market this morning, trading for 25.5 cents per share

De Grey Mining (DEG) reported drilling results from the Brolga Zone within the Hemi Discovery.

The dimensions of the Brolga Zone have increased by 220 metres, making it over 560 metres long, up to 300 metres wide and up to 300 metres deep.

Further positive gold assays have been received for three diamond holes and five reverse circulation drilling holes.

Results from the drilling include 11 metres at 2.1g/t of gold and 29.1 metres at 2.4g/t of gold.

De Grey says it has intersected encouraging gold mineralisation in the hanging wall and footwall sediments. The Brolga Zone is an important new aspect, as it provides additional large and potentially untested area within the Hemi prospect.

Hemi is a new discovery, with the first aircore drill results reported in December 2019. The prospect has two gold mineralisation zones — the Aquila and Brolga Zones.

These gold zones represent a major new discovery for De Grey in the Pilbara region.

“Mineralisation remains open in most directions at Brolga and now we are seeing gold in the adjacent sediments as well,” Exploration Manager Phil Tornatora said.

“Drilling is providing more detail on the deposits, possibly showing a large scale SW
plunge to mineralisation at Brolga. Many holes have encountered broad gold zones, that have finished in gold mineralisation and remain open,” he added.

De Grey will continue to drill after the company completes the priority holes at Aquila.

“We expect to provide the next update on Aquila and the aircore drilling to the north after Easter,” Phil told the market.

De Grey is up 2 per cent on the market this morning, trading for 25.5¢ per share at 10:13 am AEST.

DEG by the numbers
More From The Market Herald

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.

" Alkane Resources (ASX:ALK) hits further gold at Molong

Alkane Resources (ALK) has received the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales.
The Market Herald Video

" De Grey Mining (ASX:DEG) raises $125m for Mallina

De Grey Mining (DEG) has received firm commitments to raise $125 million for its Mallina Gold Project.