Eagle set to soar after De Grey drilling strikes more gold
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De Grey’s Hemi discovery is already a major success story, but further high-grade gold hits at the Eagle and Diucon targets indicates there’s room to grow.
Drilling up to 160m west of the Eagle maiden resource returned intervals such as 9m at 17.3 grams per tonne (g/t) gold from 168m within a broader 84m zone at 2.8g/t gold from 136m and 5m at 8.3g/t gold from 367m within 70.8m at 1g/t gold from 318.2m.
There is also potential for Eagle mineralisation to extend deeper with drilling below the existing resource returning results of up to 8m at 2.3g/t gold from 238m and 18.6m at 1g/t gold from 306m within the same hole.
De Grey Mining (ASX:DEG) adds that new mineralisation was discovered between Eagle and Diucon with assays of up to 25m at 2.7g/t gold from 149m including 8m at 4.8g/t gold from 149m and 3m at 9.1g/t gold from 165m.
New mineralisation was also intersected north of Eagle with results such as 19m at 11.6g/t gold from 136m.
“Recent drilling at Eagle has significantly increased the scale of the mineralised intrusion to approximately 950m strike, 200m width and 350m depth. The system remains open,” general manager exploration Phil Tornatora said.
“Zones of high grade gold have been intersected within the overall mineralised intrusion including 9m at 17.3g/t gold in HERC849 located 80m to the west of the resource boundary and 19m at 11.6g/t Au in HERC765 located in sediments to the north of and adjacent to the resource boundary.
“Drilling between Eagle and Diucon discovered new mineralisation including 25m at 2.7g/t gold in HERC883D. This demonstrates potential for additional subparallel lodes in this area.”
The company is continuing drilling to extend mineralisation and increase the resource confidence from inferred to indicated, which have sufficient information on geology and grade continuity to support mine planning.
De Grey noted that while gold mineralisation Eagle shows similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow, Falcon and Diucon, it also shows overprinting quartz veins that carry visible gold and high grades like those at Diucon.
Its latest drilling has demonstrated that Eagle mineralisation extends at depth to the west towards the Antwerp deposit.
The intersection to the north may represent an additional zone while the mineralisation intersected between Eagle and Diucon demonstrates potential for additional subparallel lodes in this area.
This is encouraging given that the two deposits have a combined resource of 48.52Mt at 0.9g/t gold for 1.45Moz.
Ongoing drilling is also targeting potential extensions to the southwest towards Antwerp and to the northwest where previous drilling returned hits such as 15m at 5.5g/t gold from 257m.
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.