Search

De Grey Hits Massive Gold Intercept

High quality gold explorer De Grey is rising high today after the company released a massive mineralization result from its latest drilling from the Diucon prospect at Hemi in Western Australia.


According to the company’s announcement, De Grey advised it has intersected gold mineralisation from the resource step out drill hole HEDD128.


The results reported that HEDD128 intersected 359.4 metres at 1.2g/t of gold (Au) from 530 metres. This included:

  • 97.1 metres at 2.6g/t Au from 580.92 metres

  • 44.8 metres at 1.4g/t Au from 762.46 metres

  • 67.4 metres at 1.0g/t Au from 861.74 metres

The company stated this represents a significant upside to the Mineral Resource Estimate (MRE) that’s been used for the prefeasibility study (PFS). This intersection lies approximately 200 metres below the Diucon mineral resource estimate (MRE) area and occurs from a 450- to 700-metre vertical depth.


De Grey said it represented one of the best and deepest intercepts drilled at Hemi.


Following this they also believe that they can extend mineralisation along strike and down plunge to the southwest of Hemi. This could lead to the discovery of significant zones of hidden mineralisation where there’s an abundance of near-surface gold. Near surface gold is more economical to mine and will lead to lower cost mining.


De Grey general manager of exploration Phil Tornatora said:


“This new intercept has something for everyone; 200 metre depth extension to the May Resource, intrusion true width increasing to approximately 300 metres, open at depth and down plunge, with increased large scale open pit, large scale underground and selective high grade underground mining potential.”