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Special report: De Grey Mining isn’t resting on its laurels, announcing today a 15 per cent increase in total mineral resource at its Pilbara Gold Project which now contains more than a million ounces.

The updated gold resource is across their Toweranna, Mt Berghaus, Mallina, Camel, Amanda and Roe projects. All located in the Pilbara region of Western Australia.

De Grey now has 391,000oz more shallow ounces than as at the time of releasing the results of its 2017 scoping study and importantly includes a 25 per cent increased in the “measured and indicated” resource categories.

Included in the results was a 25 per cent increased in “measured and indicated” resources.

Measured and indicated resources are based on estimates made with reasonable and high degrees of confidence. Ore reserves are the highest confidence category and represent a resource than can be mined economically.

The mineralisation also remains open along strike and at depth, De Grey noted.

De Grey’s Pilbara gold project is 60km south of Port Hedland in the Pilbara region of Western Australia.
De Grey’s Pilbara gold project is 60km south of Port Hedland in the Pilbara region of Western Australia.

Kicking goals

It’s been a big week for De Grey. Just two days ago the company announced first nine holes of a recently completed 15-hole drilling program has confirmed the discovery of two high-grade gold lodes below the existing “Withnell” open pit.

The first lode delivered grades of up to 70.4 grams per tonne (g/t), while the second returned grades of up to 14.52g/t. The company noted today the lodes remain open.

Anything over about 5g/t is considered high grade.

Next steps

In addition to today’s Resource Update the company announced the start of drilling at its White Quartz Hill and Clarke prospects, also in the Pilbara.

The targets are in areas associated with historic prospector activity and is on track to complete both drilling programs in October.

De Grey is ramping up exploration with the commencement of drilling at 2 of up to 40 identified untested targets, in addition to today’s upgrade expansion of known resources.

The company is also planning for open pit mining optimisations to be undertaken as part of the wider Pilbara Gold open pit mining pre-feasibility study.

Executive Chairman, Mr. Simon Lill will be presenting tomorrow (Thursday) at the “Gold Symposium Conference” being held in Perth, Western Australia

 

De Grey Mining is a Stockhead advertiser.

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