De Grey firms up third large gold zone at Hemi
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Special Report: Drilling by De Grey Mining has established that the Crow zone is another large gold mineralised system within its Hemi discovery in Western Australia’s Pilbara region.
Five of the initial six reverse circulation holes drilled at Crow intersected broad zones of semi-continuous gold mineralisation with the best hits going 63m at 0.9 grams per tonne (g/t) gold from 26m and 89m at 0.6g/t gold from 43m.
De Grey (ASX:DEG) has already defined Crow over a strike of 1km and width of 400m while the latest drilling shows a shallow southerly dip to the bedrock gold mineralisation that extends over +400m lateral width.
The company plans to carry out about 5,000m of extensional drilling to test Crow, which is north of the Aquila zone, along strike this month.
“The potential for another large tonnage gold deposit similar to Brolga is very encouraging,” technical director Andy Beckwith said.
“The alteration and gold mineralisation at Crow is similar to that seen at Brolga. Looking at the cross section, if the gold mineralisation at Aquila and Crow join at depth then we have a target larger than Brolga with a potential lateral width of +700m.”
De Grey’s ongoing exploration success in the Pilbara neatly underlines how it was able to line up a heavily oversubscribed $31.2m share placement that will bring many of the world’s top funds onto its register.
Proceeds from the raising will be used for ongoing exploration at Hemi, exploration on associated targets along the Scooby to Antwerp Trend and certain early stage development initiatives.
Hemi was discovered in mid-December 2019 under a shallow ‘blanket’ of transported cover, with subsequent work highlighting the potential for the broader and still underexplored Mallina project to host a resource much bigger than its existing 2.2 million ounces of gold.
Last month, drilling extended Brolga gold mineralisation down dip while extending sulphide mineralisation a further 80m to more than 640m long.
At the same time, the company confirmed further gold mineralisation at the Aquila zone, with best results of 16.2m at 3.3 grams per tonne (g/t) gold from 249.3m, 6m at 2g/t gold from 344.8m and 6m at 2.4g/t gold from 80m.