De Grey finds more gold nuggets in the Pilbara

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.

Gold nugget and fine “halo” gold in rock specimen. Pic: De Grey

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.

De Grey was trading at 13c just before 11am AEDT.