| Announcement Date: | 2022-02-15 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | De Grey Mining Ltd. |
| Project name: | Pilbara |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 152.5m @ 2.3g/t Au from 53.0m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | De Grey Mining Limited (ASX: DEG, “De Grey” or the “Company”) is pleased to report these latest resource definition and resource extension results from the Diucon deposit at Hemi. The gold mineralisation at Diucon shows similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow, Falcon and Eagle. Drilling at Diucon and Eagle has intersected broad zones of mineralised intrusive in resource definition and extensional drilling including late high grade mineralisation associated with quartz-carbonate veining, sericite-albite alteration and visible gold. The mineralised intrusion at Diucon has now been intersected to 300m in width, 550m depth and over 1,000m along strike and remains open in all directions. Ongoing drilling at Diucon and other deposits at Hemi demonstrates potential to increase gold endowment through increased grade and extensions to the maiden mineral resource estimate (MRE). Resource definition drilling to a nominal 40m x 40m spacing above approximately 400 vertical metres is currently being prioritised to increase the resource confidence level from JORC Inferred to Indicated in areas of Diucon proposed to be mined by open pit methods. Resource definition drilling for the PFS will continue into the first quarter of 2022. Resource extension drilling at Diucon and the other deposits at Hemi will continue throughout 2022. |
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