De Grey’s Diucon takes flight as drilling extends gold mineralisation at depth
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The Diucon deposit is already one of the major contributors to the current resource at De Grey’s Hemi discovery, but as its latest drilling clearly shows, there’s still room to grow.
Resource definition drilling has returned results such as 63m grading 4.3 grams per tonne (g/t) gold from 87m in HERC770 along with visible gold within a 14.2m intersection at 6.3g/t gold from 67m in HEDD060.
And it’s likely to move more of the current Inferred resource into the higher confidence Indicated category.
Equally importantly, deeper drilling has intersected thick zones of gold mineralisation such as 130.8m at 0.9g/t gold from 376m including 38m at 1.6g/t gold from 437m (HEDD101) and 25m at 1.1g/t gold from 722m (HERC959D) below the existing resource and Scoping Study pit design.
De Grey Mining (ASX:DEG) notes that the mineralised intrusion at Diucon has now been intersected to 300m in width, 550m in depth and over 1,000m in strike while remaining open in all directions.
The results also follow closely on the heels of impressive high-grade hits at its stablemate, the Eagle deposit, and are a great way to end the week, which marks the second anniversary of the company announcing the Hemi discovery.
Both deposits are characterised by broad zones of mineralised intrusive in resource definition and extensional drilling including high grade mineralisation associated with quartz-carbonate veining, sericite-albite alteration and visible gold.
“The southern lodes have been tested to a maximum depth of only around 200m vertically, and drilling is extending these at depth,” general manager exploration Phil Tornatora noted.
“In addition, the main zones of mineralisation continue to be extended along strike to the west and at depth, all of which are expected to contribute to an upgraded resource base at Diucon.
“Infill drilling is also being conducted to increase the resource confidence from JORC Inferred to Indicated classification.”
Both extension and infill drilling are currently underway at the Diucon and Eagle deposits with reverse circulation and diamond holes targeting depth extensions and additional lodes to the south.
Drilling is also targeting down plunge extensions to the southwest towards Antwerp.
Resource definition drilling is focused on increasing the resource confidence in areas of Diucon and Eagle proposed to be mined by open pit methods.
This drilling for the pre-feasibility study will continue into the first quarter of 2022.
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.