De Grey Mining - DEG(ASX) News & Expert Insights from Stockhead

De Grey Mining Limited (ASX: DEG) is a Western Australia-based mining company engaged in gold exploration and development activities.

The Company’s primary focus is the 100% owned Mallina Gold Project (MGP) in the Pilbara region of WA. Here De Grey has made a large scale, high value, near surface gold discovery at an area called Hemi.

Hemi discovery is an intrusion-hosted form of gold mineralisation which has not been previously encountered in the Pilbara. The high value of the discovery is driven by its size, grade continuity and growth potential.

Hemi is made up of a number of zones including Aquila, Brolga, Crow and Brolga South. De Grey has an aspirational goal of delineating 5Moz at Hemi.

Outside of Hemi, the Company has outlined a 2.2Moz Mineral Resource within the broader 1,200km² tenement area. These regional resources are made more valuable following the discovery at Hemi.

The MGP is located about a 45 minute drive south of Port Hedland in a mining heartland. The area has a number of infrastructure advantages including two major sealed highways, two gas pipelines and a high voltage powerline all within a short distance of Hemi.

A major drilling program is underway at Hemi with the aim of delivering an initial resource in 2021. Drill testing of a number of known, mineralised intrusions in the greater Hemi area is also ongoing, along with targeting along the 150km corridor controlled by De Grey.

KEY PEOPLE

Glenn Jardine - Managing Director

Mr. Jardine is a senior mining executive with direct experience growing resource companies from early stage exploration through to multi-operation entities. This includes taking projects through feasibility studies, equity funding, debt financing, project development and operations. Commodity experience includes precious metals, base metals and bulk commodities across underground and open pit operations. Processing methods utilised at these projects and operations include CIP/CIL, DMS, sulphide flotation, BIOX, pressure oxidation and SX/EW. Projects developed have received Australian State and Federal recognition for environmental best practice and health and safety and human resources systems.

Andy Beckwith - Executive Technical Director

Andy Beckwith has over 30 years of Geological and Management experience; working as the Managing Director for Westgold and in senior management roles with Anglo. He holds holds a Bachelor of Science (Applied Geology) from the University of South Australia and has had significant impact in the rebirth of the company.His more recent role as Managing Director saw him successfully build Westgold to circa 5M ounces of resources.

Phil Tornatora – Exploration Manager

Mr. Tornatora joins De Grey Mining with over 25 years of geological experience; with over 4 years as General Manager of Exploration at Northern Star. During this time Northern Star advanced from a single mine operation to a multi-mine company producing around 500Koz gold per annum. Prior to this, Phil worked as Exploration and Geology Manager for Galaxy Resources. Philip has a Bachelor of Science (Hons), Master of Economic Geology, and is a member of the AUSIMM and AIG. He has worked on numerous projects, both in Australia, Africa and SE Asia, with his extensive experience being a welcomed addition to the team at De Grey.

Simon Lill - Non-Executive Chairman

Simon Lill has over 25 years experience in stockbroking, capital raising, management, business development and analysis for a range of small and start-up companies, both in the manufacturing and resources industries. He holds a Masters of Business Administration, along with a Bachelor of Science, both from the University of Western Australia and has worked specialising in restructuring activities.