Gold majors look to accelerate tie-ups with juniors on project exploration and development
Special Report: Gold majors are increasingly teaming up with juniors to develop the next generation of mines.
This year’s Diggers & Dealers forum is really showing an appetite from majors actively looking at junior gold explorers. Talking to people at Diggers you get a great sense of excitement in the junior end.
De Grey Mining (ASX:DEG) managing director Simon Lill says this is good for the junior sector.
“There’s been some really interesting presentations, from major mining companies who have actively said ‘we are looking for exploration players’,” he told Stockhead on the conference sidelines.
So far, De Grey has 1.7moz in resources at the massive, ‘provincial-style’ Pilbara Gold Project – but that’s just the start. The explorer has a medium-term target of 3moz.
“We have over 200km of shear zones – all hosting mineralisation.”
“It really is provincial-style.” Lill says.
De Grey is finalising a massive $22m rights issue in the next few days which will be used to finalise acquisition of the Indee Gold ground, which represents two-thirds of the explorer’s resources and a third of the entire Pilbara Gold Project tenement area.
But it also injects $10m to continue exploration, Lill says.
“We are having a look for potential big discoveries in the unexplored shear zone areas,” he says.
“We’ve also identified a lot of intrusion-hosted gold areas, similar to the 356,000oz Toweranna deposit.
“We are hoping to give that really good shake over the next 6 months.”
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