Junior explorer De Grey Mining has uncovered more gold nuggets at its Pilbara project in Western Australia.
The total number of gold nuggets found at its project now exceeded 200, the company (ASX:DEG) told investors on Monday morning.
Canada’s Novo Resources and its Australian partner Artemis Resources (ASX:ARV) kickstarted a renaissance in the gold space in WA after finding “watermelon seed” sized nuggets at their Purdy’s Reward project in the Pilbara in July last year.
On De Grey’s landholding, visible gold was panned from streams draining the Loudens Patch, Jarret Well and Steel Well conglomerate targets.
This confirmed potential at all three targets with widespread visible gold identified, the company said.
De Grey now has approval for a program of works covering initial earthworks and bulk sampling, while another program for larger tonnage earthworks has been lodged for approval.
The company’s shares did not move on the news on Monday morning.
Get the latest Stockhead news delivered free to your inbox
For investors, getting access to the right information is critical.
Stockhead’s daily newsletters make things simple: Markets coverage, company profiles and industry insights from Australia’s best business journalists – all collated and delivered straight to your inbox every day.
Markets coverage, company profiles and industry insights from Australia’s best business journalists – all collated and delivered straight to your inbox every day.
It’s free. Unsubscribe anytime.
By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.
I want the news:
Hear it first
Get the latest Stockhead news delivered free to your inbox.
Thanks! You’re subscribed, Stockhead news is coming your way soon.