Drilling defines large gold system at De Grey’s Diucon-Eagle areas
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De Grey’s Hemi project continues to prove its worth with drilling confirming that a large gold mineralised system is present at the Diucon and Eagle areas.
Results such as 14m at 21.2 grams per tonne (g/t) gold from 50m, 17m at 5.7g/t gold from 282m that ends in mineralisation and 26m at 1.6g/t gold from 69m have defined a 900m strike at Diucon that remains open at depth and under sediments to the west.
At Eagle, drilling has defined a current strike of about 600m that remains open to the north, west and at depth, with the latest results including 6m at 13.4g/t gold from 142m within a broader 61m zone at 2.6g/t gold from 116m.
De Grey Mining (ASX:DEG) notes that mineralisation at Hemi now extends about 3.5km from Brolga to Eagle and that the two new zones demonstrate the potential to rapidly and cost effectively add to the gold endowment at Hemi.
Managing director Glenn Jardine says the confirmation of a large mineralised system at Diucon and Eagle represents another step change to the gold endowment at Hemi.
“Extensional RC drilling is currently being conducted on 160m spaced sections and 80m spaced collars on section,” he added.
“This drilling has 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 is also being conducted in places at 80m line spacing to confirm continuity of mineralisation.”
The company is also continuing reverse circulation (RC) drilling along strike to determine the overall scale of the project while diamond drilling of the potential down dip extension is expected to begin during the current quarter.
Diucon and Eagle are immediately west of Crow and could be a potential geological link between the Crow intrusion to Antwerp.
Mineralisation at the two prospects shows similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow and Falcon.
At Diucon, drilling intersected multiple zones of mineralisation with several holes ending in mineralisation.
Further drilling at the two zones is expected to rapidly and cost effectively increase the gold endowment of Hemi.
De Grey aims to release a maiden mineral resource for the wider Hemi discovery around the middle of the year.
If you want to hear more regarding De Grey’s recent developments, managing director Glenn Jardine recently released a video discussing their results here.
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.