De Grey’s flock grows further with Diucon, Eagle gold extensions
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Drilling at De Grey Mining’s Hemi project has extended mineralisation at the Diucon and Eagle prospects – demonstrating further the project’s gold potential.
The latest drilling by De Grey (ASX:DEG) extended mineralisation at Eagle to around 600m of strike and 300m depth, remaining open to the north, west and east.
Standout intersections reported from the westernmost sections at Eagle include 36m at 6.9 grams per tonne gold from 40m; and 52m at 1.1g/t from 40m.
Drilling at Diucon extended mineralisation width to approximately 200m, with new lodes intersected across strike from a previously reported hit of 121m at 1.1g/t.
Drilling showed three stacked sub-vertical lodes south of the ultramafic unit, which have not been defined along strike and will be tested further.
The Diucon strike is currently around 900m, with mineralisation remaining open at depth and beneath sediments to the west.
Significant new results at Diucon include 35m at 2g/t gold from 83m, and 20m at 4.9g/t gold from 201m.
The results mean mineralisation now extends around 3.5km east from Brolga to Eagle – see the graphic below.
De Grey said the results demonstrated the potential to rapidly and cost effectively add to the gold endowment at Hemi.
“Diucon and Eagle potentially represent another step-change to the gold endowment at Hemi. Both zones remain open along strike and at depth,” managing director Glenn Jardine said.
“RC drilling is currently on 160m spaced sections and 80m spaced collars on section. We have demonstrated 900m and 600m strike lengths respectively at Diucon and Eagle, with significant grades and widths downhole.
“Mineralisation remains open along strike and at depth, with multiple stacked lodes in places. RC drilling to determine overall scale along strike continues and diamond drilling of potential down dip extensions is expected to commence during the quarter.”
Diucon and Eagle are located immediately west of the Crow deposit, and De Grey believes they present a potential geological link between the Crow intrusion and Antwerp.
Gold mineralisation shows similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow and Falcon.
RC and diamond drilling on 160m by 80m step-outs designed to extend mineralisation along strike and at depth at Diucon are underway. Infill to 80m by 80m is also planned to begin this quarter.
Today’s positive news comes just days after results from the Brolga zone at Hemi demonstrated its amenability to large scale, low strip ratio open pit mining.
De Grey aims to release a maiden mineral resource for the wider Hemi discovery around the middle of the year.
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.