Rapid growth is the name of the game at De Grey’s Hemi project with drilling extending the size of the Diucon and Eagle gold discoveries.

The company says drilling has demonstrated the broad nature of mineralised zones at the two discoveries, which are immediately west of the Crow discovery and have similar alteration and sulphide development as seen at the other deposits such as Aquila, Brolga, Crow and Falcon.

Diucon and Eagle, which were first announced in January, have now been confirmed over 900m and 300m of strike and to depths of 200m and 300m respectively.

De Grey Mining (ASX:DEG) managing director Glen Jardine says the discovery and growth of the Diucon and Eagle deposits as well as the Falcon deposit highlights the potential for the company to rapidly increase gold endowment at the Hemi project.

“Extensional drilling is continuing at Diucon and Eagle. A fourth RC rig will be mobilised to site this month to allow for the commencement of RC drilling at the Scooby intrusion. This follows encouraging results in aircore drilling at Scooby announced in January,” he added.

“Two RC and three diamond rigs are conducting extensional and infill drilling at other zones at Hemi for resource definition. Two aircore rigs are drilling for new discoveries in the Greater Hemi area.”

Drilling results

The recent drilling at Diucon was focused on extensions at depth and to the west of previously reported mineralisation.

Notable new results are:

  • 34m at 1.8 grams per tonne (g/t) gold from 40m;
  • 121m at 1.1g/t gold from 80m including 17m at 3.5g/t gold from 141m; and
  • 36m at 2g/t gold from 224m including 12m at 4.6g/t gold from 246m.
de grey diucon section
Diucon section. Pic: Supplied

De Grey plans to drill a diamond extension to the last hole as it finished in mineralisation.

Drilling continues to target depth and strike extensions to the west on 160m spaced sections.

Over at the Eagle discovery, recent drilling has intersected further encouraging sulphide rich alteration in an intrusion similar to Diucon and the other zones at Hemi.

Significant new results are:

  • 123m at 1g/t gold from 229m including 26m at 1.8g/t gold from 237m and 39m at 1.6g/t gold from 311m; and
  • 35m at 0.7g/t gold from 51m including 10m at 1.1g/t gold from 51m and 5m at 1.5g/t gold from 70m.
de grey eagle section
Eagle section. Pic: Supplied

Drilling is continuing on 160m spaced sections and at depth to expand gold endowment.

 

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.

 

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