6.8Moz Hemi resource just the start as De Grey hits big grades and widths at Diucon
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The 6.8Moz maiden resource at De Grey Mining’s Hemi discovery in the Pilbara was only ever going to be the start of something good.
De Grey Mining (ASX:DEG) has rolled out another string of seriously impressive results from the Diucon deposit at its world-class intrusion hosted gold find, the largest new gold discovery in WA in decades.
The latest results from infill and extensional drilling at Diucon show there is likely to be plenty of opportunity in both resource confidence and ounces on the horizon.
Between them the Diucon and Eagle orebodies account for an inferred mineral resource estimate of 48.52Mt at 0.9g/t gold for 1.45Moz.
The new results include high grade portions significantly above the overall resource grade, and come as the drilling grid tightens up with resource drilling expected to progressively transition from 80m by 40m spacing to 40m by 40m.
That would be close enough to estimate indicated resources, an important milestone because resources at that confidence level can be incorporated into reserves.
The new intersections are of a significant enough width and grade that the highlights all deserve listing here, including:
According to De Grey the gold mineralisation at Diucon shows similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow, Falcon and Eagle.
But like Eagle, Diucon also bears overprinting quartz veins which can carry high gold grades.
The mineralised intrusion at Diucon has now been intersected to 300m in width, 400m depth and 1,000m along strike.
“The system remains open in all directions,” De Grey GM of Exploration Phil Tornatora said.
“Zones of higher grade gold have also been intersected within the overall mineralised intrusion including 17m @ 7.5g/t Au in HERC897.
“We continue to extend mineralisation in width to the south, along strike to the west and at depth. Drilling is also being conducted to increase the resource confidence from Inferred to Indicated classification.”
Some of the drilling around Diucon is also targeting down plunge extensions to the south west towards Antwerp, a target where previously reported shallow drilling intersected encouraging numbers including 4m at 21.7g/t and 6m at 10.7g/t.
This article was developed in collaboration with De Grey Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.