Special Report: Since uncovering Hemi 12 months ago, De Grey’s (ASX:DEG) near sole focus has been on extending and defining the mammoth gold discovery with an incredible ~250,000m of drilling.

A highly anticipated maiden resource is due mid-2021.

“Extending and defining Hemi as a Tier One resource is our focus,” De Grey managing director Glenn Jarfdina says.

“There remains ongoing potential to expand at Hemi.

“Two RC rigs and two diamond rigs are currently operating with a third diamond rig to be mobilised in the near future to continue drilling depth extensions, particularly at the recently discovered Falcon zone.”

But exploration activity in new areas outside Hemi will also increase in 2021.

Shallow, early stage drilling of the known ‘intrusions’ in the Greater Hemi area is advancing, with prospective targets to be followed up by deeper drilling into the first half of 2021.

Greater Hemi showing anomalous (low grade) gold results.

Work will also be undertaken on the shear-hosted gold potential of the project.

More than 200km of shear zones also exist across the wider Mallina project, with the majority of the current mineral resource of 37.4 million tonnes grading 1.8g/t gold for 2.2 million ounces — which excludes Hemi — is found in shear-hosted deposits.

RC and diamond drilling to extend existing shear-hosted deposits will fire up again during 2021.

“Following a recruitment phase, we are now appropriately resourced to lift our exploration gaze to the Greater Hemi area, where we have two aircore rigs and one RC rig drilling both intrusion and structural targets,” Jardine says.

“We are continuing to look at resourcing the company to reinvigorate exploration across the whole tenement package during 2021 where we are blessed with many targets.

“We will use the knowledge that we have gained at Hemi over the past year to leverage exploration success across our district scale tenement package.”


This article was developed in collaboration with De Grey, 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.