De Grey rings the gold discovery bell two more times at Hemi
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Special Report: De Grey’s exploration mojo is clearly going strong with the discovery of two new gold mineralised intrusions at Hemi in Western Australia.
The company, one of the best performing small caps in 2020, intersected encouraging alteration and gold mineralisation through first pass aircore and reverse circulation drilling at the Diucon and Eagle intrusions immediately west of the Crow zone.
Notable results are 99m grading 1 gram per tonne (g/t) gold from a depth of 114m including 6m at 4.5g/t gold from 186m and 29m at 1.1g/t gold from 55m including 10m at 2.6g/t gold from 74m at Diucon while drilling at Eagle returned a 66m intersection at 0.7g/t gold from 50m including 6m at 2g/t gold from 78m.
De Grey Mining (ASX:DEG) managing director Glenn Jardine noted that two intrusions were first discovered by systematic aircore drilling with follow-up RC intersecting the broad zones of shallow gold mineralisation.
“Wide spaced drilling is at an early stage and both intrusions remain open along strike and at depth,” he added.
“Follow-up RC drilling will continue with the aim to delineate the extent and continuity of gold mineralisation in both intrusions. Potential exists to define new resources to add to the existing gold endowment at Hemi.
Both the Diucon and Eagle intrusions are located immediately west of Crow along the southwest to northeast trending structural corridor running from Scooby to Antwerp.
Notably, the intrusions were not highlighted by any magnetic signature leaving large scope to define further non-magnetic intrusions throughout the region as De Grey’s systematic aircore drilling is continuing in the Greater Hemi area.
Diucon is a south to northeast trending mafic to ultramafic unit that has been defined to date over +1km of strike and a width of 300m.
Shallow gold mineralisation has been defined from a depth of 40m to 200m.
It is considered to be a direct extension of the Crow intrusion and has encouraging variable alteration and gold mineralisation similar to that found at Hemi.
Meanwhile, Eagle is interpreted to be an extension of the Antwerp intrusion complex and has been defined over a +500m strike, a width of 200m and to a depth of 120m
Both zones remain open at depth and along strike.
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.