De Grey Mining shares double after Hemi drilling confirms potential for major gold discovery

By Deputy Chief EditorFebruary 6, 2020

161 1 minute read

De Grey Mining Ltd (ASX:DEG) has revealed outstanding initial gold results from follow-up aircore drilling at the newly discovered Hemi Prospect within the Mallina Gold Project in WA.

Substantial thick and high-grade gold mineralisation was intersected on two sections 640 metres apart with the mineralisation open in all directions and at depth.

Section A – 30 metres wide to 100 metres depth (oxide and fresh):

24 metres at 7.5 g/t gold from 126 metres in BWAC315, including 18 metres at 8.6 g/t;
49 metres at 3.7 g/t gold from 65 metres in BWAC309, including 18 metres at 6.6 g/t; and
36 metres at 4.0 g/t from 39 metres in BWAC245, including 11 metres at 8.9 g/t.

Hemi Prospect – Section A

Section B – +60 metres wide gold zone to 20 metres depth (oxide):

24 metres at 4.2 g/t gold from 36 metres in BWAC312, including 10 metres at 7.4 g/t;
15 metres at 2.5 g/t gold from 33 metres in BWAC313; and
21 metres at 2.5 g/t from 36 metres in BWAC258.

Hemi Prospect – Section B

The aircore program remains ongoing with a total of 57 new holes (BWAC309 to BWAC365) completed for a total of 4709 metres to date. Results have been reported only for the first seven holes.

De Grey technical director Andy Beckwith said: “For an exploration geologist, these results are both satisfying and exciting.

“Hemis shallow high-grade gold zones provide an excellent opportunity to increase resources and further derisk our path to production.

“The individual assays down hole are very robust creating solid high-grade gold zones over considerable thicknesses which we expect to continue at greater depth.