De Grey’s Falcon deposit soars on strike extensions and visible gold
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Special Report: De Grey’s Falcon could add significantly to the gold endowment at its Hemi discovery after ongoing drilling extended mineralisation along strike and at depth.
Infill and extensional reverse circulation and diamond drilling have increased the broad mineralised zone at the Falcon deposit from 800m to more than 1,000m along strike and to a depth of at least 300m.
Notable results from De Grey Mining’s (ASX:DEG) drill program are a 31m intersection grading 3.3 grams per tonne (g/t) gold from 101m that is 50m downdip from a previous intersection of 50m at 3.3g/t gold from 50m and a high-grade zone of 8m at 5.5g/t from 99m.
Drilling also intersected a 42m zone of sulphide altered intrusion containing visible gold.
“The latest results demonstrate the gold endowment of this zone along a strike of 1,000m and to a depth of at least 300m. Mineralisation remains open down dip, along this strike and up dip on some sections,” managing director Glenn Jardine.
“Falcon has the potential to provide an important contribution to the overall gold endowment at Hemi. Extensional RC and diamond drilling will remain a focus at Falcon.”
De Grey is continuing its aggressive drill campaign at Hemi with seven rigs – two aircore, three reverse circulation and two diamond rigs currently on site.
“A third diamond rig is being mobilised and is expected to commence by early December. As well as delineating the existing zones at Hemi, aircore and RC drilling is now progressively expanding to known and new intrusive targets in the Greater Hemi area,” Jardine added.
A maiden JORC resource estimate for the Hemi gold discovery, located 60km south of Port Hedland in WA, is expected in mid-2021.
The new Falcon target is about 600m west of Brolga and immediately south of Aquila.
Aircore drilling has mapped the intrusion out over a 3km strike with step out drilling defining strong mineralisation over a strike length of about 1km.
Bedrock mineralisation at Falcon is covered by between 30m to 40m of transported material, similar to the Aquila, Brolga and Crow deposits.
This article was developed in collaboration with De Grey, 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.