De Grey may already have more than 8Moz of gold at its Hemi discoveries but as the latest drill results highlight these major strike and depth extension at Diucon show that there’s likely to be plenty more to find.

The latest deep drilling extends mineralisation at the 1.6Moz Diucon deposit by about 120m along strike and 400m down plunge to the west of the May 2022 Mineral Resource Estimate.

Mineralisation at Diucon has now been intersected for about 560m along strike and to a depth of 900m with potential for further growth as it remains open.

Of particular note is diamond hole HEDD136 which returned multiple intersections of 15.1m grading 1.6 grams per tonne (g/t) gold from a down-hole depth of 599m, 53.4m at 1.4g/t gold from 654.2m, 14.1m at 3.1g/t gold from 750m and 12.6m at 2.8g/t gold from 779.7m.

This opens up potential for an even bigger open pit mine at Diucon or a future underground operation when open pit mining is complete.

Adding further interest for De Grey Mining (ASX:DEG), mineralisation intersected at HEDD136 remains open in all directions including updip and to the west towards the Antwerp deposit, which has seen encouraging results from shallow drilling.

This deeper drilling program was carried out at a wide spacing on 160m lines and 80m collars along strike from HEDD128, which intersected 359.4m at 1.2g/t gold from 530m.

“Wide-spaced drilling down plunge to the west-southwest of the current Diucon resource has demonstrated that the Diucon mineral system is open in this direction,” general manager exploration Phil Tornatora said.

“Drilling is still very widely spaced and significant intersections are being returned from holes such as HEDD136 and HEDD128. This work has strong potential to extend Diucon’s current 1.6Moz mineral resource.

“Higher grade zones, often showing visible gold in quartz continue to support the potential for underground mining below open pit depths.”

Drill interpretation and future work

De Grey noted that higher grade mineralisation in shallow and deeper drilling at Diucon appears to be associated with inflections on major shear zones.

Visible gold in smoky quartz veins are also associated with many of the high grade intercepts.

Planned drilling on the southern margin of Diucon and at the base of the Pre-Feasibility Study pit shell optimisation has the potential to both expand the mineral resource and extend the open pit shell optimisation to the south and at depth.

Work will also be carried out to follow up shallow lodes between Diucon and Eagle, all of which have the potential to add to the Diucon mineral resource.




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.