De Grey’s Hemi discovery just keeps getting bigger
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Special Report: De Grey’s drilling has increased both sulphide and gold mineralisation at the Hemi discovery.
If you had put your hard-earned cash into De Grey Mining (ASX:DEG) at the beginning of this year, you would not only have avoided the COVID-19 induced panic selling on markets, you would be ahead more than 350 per cent.
And the latest results from the company’s drilling at the Hemi discovery within its Mallina project in Western Australia’s Pilbara region clearly highlight why it has been a market darling.
Reverse circulation drilling has extended sulphide rich mineralisation in the Brolga zone to 200m wide, 160m long and 150m deep. This remains open in all directions.
Abundant disseminated sulphide mineralisation is also visible in the initial diamond drilling core.
Drilling has also extended gold mineralisation, with notable results of 18m at 2.3 grams per tonne (g/t) gold, 16m at 2.6g/t and 13m at 1.9g/t.
Earlier this month, De Grey hit what it described as “some of the best discovery intersections” of 93m grading 3.3g/t gold at the Brolga zone.
“Step out drilling has confirmed immediate strike extensions of the Brolga Zone, providing encouraging indications for substantial potential along strike,” technical director Andy Beckwith said.
“The widths, grades and consistency of mineralisation intersected to date are very pleasing. Our geological model is evolving rapidly, and our confidence continues to grow that the strong sulphide rich mineralisation directly relates to gold.
“We have a large volume of assays in the lab and are continuing drilling with three rigs. We expect frequent news flow over the coming weeks as we progress drilling on this exciting new discovery.”
Since then, drilling has provided compelling support for the company’s theory that its rapidly growing — but grossly underexplored — 1.7-million-ounce Mallina project hosts numerous large deposits.
>> Now watch: 90 Seconds With… Andy Beckwith, De Grey Mining