| Announcement Date: | 2022-05-31 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | De Grey Mining Ltd. |
| Project name: | Mallina |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Updated Resource Estimate for Project |
| 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 that the Mallina Gold Project Mineral Resource Estimate (MRE) update has been completed by Cube Consulting Pty Ltd, based on additional drilling and assay results to 5 April 2022 at the Hemi gold deposit. The Regional gold deposit MREs remain unchanged from the April 2020 Mineral Resource statement. The MRE is based on 323 diamond drill holes for a total of 83,933m and 949 reverse circulation (RC) drill holes for 232,012m including pre-collars completed between February 2020 and the 5 April 2022 cut-off date. The Pre-Feasibility Study (PFS) is well advanced and due in the September Quarter 2022. This PFS will provide an updated assessment of mineable resources, Ore Reserves and economics of the project. Hemi Mineral Resource Update The Hemi gold deposit is located centrally within De Grey’s 1,500km2 Mallina Gold Project (MGP) and immediately southwest of Port Hedland in the northern Pilbara region of Western Australia. The project benefits from close proximity to Port Hedland’s major infrastructure network, including major highways, port facilities, gas pipelines, overhead 220kV electrical powerlines and associated power stations. |
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