Strong gold hits to add ounces at De Grey's Pilbara Gold Project

Special report: Significant new shallow gold hits at the Mt Berghaus deposit will be included in the new resource update for De Grey Mining’s flagship 1.2 million-ounce Pilbara gold project.

The gold mineralisation – all less than 60m deep – is expected to increase overall gold resources and help optimise the mining pits for the Pilbara gold project pre-feasibility study.

The recent drilling is expected to grow the current Mt Berghaus resource of 140,800 ounces.

With just 10 per cent of the 200km-plus mineralised zones drilled to establish the Pilbara project’s 1.2-million-ounce resource, there is excellent potential to grow resources.

De Grey is ramping up exploration to upgrade and expand known resources, as well as discover new deposits – the company has identified a large pipeline of more than 40 untested targets.

A resource update is currently underway and expected to be released in late September or early October.

Once the new resource model has been completed, open pit mining optimisations will be undertaken as part of the wider Pilbara Gold open pit mining pre-feasibility study.

Strong position

De Grey is well positioned after a recent report from S&P Global Market Intelligence has said Australia is set to see a major drop-off in gold production as early as 2020.

This special report is brought to you by De Grey Mining.

This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice.

If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.