De Grey Mining rides Hemi gold wave as shares hit two-year high on new broad high-grade results

De Grey Mining Limited (ASX:DEG) (OTCMKTS:DGMLF) (FRA:DGD) continues to ride the wave generated by the Hemi gold discovery within the Mallina project in WAs Pilbara region with shares hitting a new two-year high.

Further high-grade results from reverse circulation (RC) drilling have confirmed a large-scale gold system at Hemi with shares up almost 46% to 27 cents on strong volume of almost 24 million, up from 4.6 cents on February 2.

93 metres at 3.3 g/t[hhmc]

A highlight was a 93-metre continuous gold zone from 39 metres that assayed 3.3 g/t, including 21 metres at 4.7 g/t, at the Brolga Zone.

The results prompted DEGs exploration manager Phil Tornatora to state: “Early drilling at Hemi has produced some of the best discovery intersections that I have seen.

“Drilling to date shows exceptionally wide, continuous and good grade gold mineralisation.”

The 93-metre intersection at Brolga correlates with previous shallow aircore gold results returned directly above.

Sulphide zone expanded[hhmc]

Partial results from another hole extending 40 metres down dip returned 51 metres at 2.2 g/t from 98 metres, including 8 metres at 4.1 g/t, and 12 metres at 1.6 g/t from 160 metres

The sulphide zone has been expanded to +200 metres wide and potential for +320 metres of strike with diamond drilling underway.

Mallina Gold Project showing main gold deposits and the new Hemi discovery.

Aquila Zone results[hhmc]

At Aquila Zone a northeast trend has been defined over more than 750 metres of strike and up to 50 metres wide.

Best results from this zone are:

• 11 metres at 3.0 g/t from 193 metres finishing in high-grade mineralisation of 4 metres-plus at 6.5 g/t;
• 38 metres at 3.4 g/t from 55 metres including 9 metres at 7.4 g/t, 50 metres to the northeast; and
• 42 metres-plus at 2.7 g/t from 96 metres including 4 metres at 4.2 g/t, 480 metres along strike to the northeast and finishes in mineralisation.

Mineralisation has been confirmed to 180 metres below surface and remains open.

Three rigs on site[hhmc]

Tornatora said: “Geological indications suggest that Hemi may be more of an intrusion-related style of gold system rather than the more typical orogenic shear hosted style deposits of the Pilbara and other WA golRead More – Source

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