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Corporate Spotlight

De Grey Mining is a WA based mining company that centres on the development of Gold
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POSITIVE DRILL RESULTS

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Positive drill results extend Withnell potential 

ASX Announcement 25 November 2019 


➢ Prioritised sampling of Lode 1 has returned significant drilling results: 


  • 3m @ 17.1g/t Au from 91m in NRC116 incl 1m @ 43.6g/t Au from 92m 
  • 5.1m @ 9.9g/t Au from 338.9m in NDD147 incl 0.5m @ 56.9g/t Au from 341.75m 
  • 6.13m @ 5.2g/t Au from 368.53m in NDD146 
  • 6m @ 3.3g/t Au from 239m in NRC118 


➢ Withnell Lode1 has been extended 100m deeper along the entire 1.2km strike length with three higher grade and west plunging shoots developing. 

➢ Shallow high grade, 3m @ 17.1g/t, intersected at the western end of the deposit provides added scope to extend the westernmost plunging shoot laterally and at depth. 

➢ Assays for most parallel lodes remain pending - significant drill results to date include: 


  • 7m @ 2.2g/t Au from 85m in NDD145 in Lode 2 
  • 0.67m @ 16.1g.t Au from 476.60 in NDD148 in Lode 12 


➢ Drilling continues to target resource extensions on a 100m x 100m basis.


Andy Beckwith, Technical Director commented: 

“Scale and grade are the two most important aspects of the Withnell deposit. 


Withnell is a large 1.2km long and highly mineralised gold system that remains open both along strike and at depth. The average grade of the underground resource is 4.1g/t which compares favourably to existing Western Australian operating underground mines. 


This latest round of drilling demonstrates the dominant Lode 1 now extends a further 100m below the current resource along the entire 1.2km strike length and down to 350m below surface. Importantly, within this 1.2km strike length, Lode 1 appears to be developing into three west plunging higher grade shoots. 


De Grey plans to continue systematic 100m x 100m step out drilling to extend and outline the mineralisation to a nominal 500m depth.” 


De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to announce the latest assay results from the ongoing resource extension drilling program at the Withnell deposit, within the Mallina Gold project located near Port Hedland in Western Australia.


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CONTINUES TO DELIVER

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Mallina continues to deliver

ASX Announcement 11 November 2019 


  • ➢ Additional priority RC, diamond and aircore drilling recommencing at Mallina 
  • ➢ Revised geological model and intense alteration zonation shows strong resource potential 
  • ➢ Follow-up RC drilling extends mineralisation of recently reported new aircore zones 
    • 3m @ 7.9g/t Au from 27m in MLRC282 
    • 10m @ 3.1g/t Au from 53m in MLRC288 incl 4m @ 6.7g/t Au from 56m 
    • 10m @ 2.8g/t Au from 77m in MLRC282 incl 3m @ 7.4g/t Au from 83m 
    • 6m @ 2.6g/t Au from 114m in MLRC288 incl 2m @ 5.9g/t Au from 114m 
    • 5m @ 2.1g/t Au from 91m in MLRC284 


  • ➢ New shallow aircore results include 
    • 4m @ 1.7g/t Au from 68m in MLAC132 
    • 8m @ 1.2g/t Au from 44m in MLAC134 


  • ➢ Previous high grade aircore results reconfirmed with 1m sampling 
    • 22m @ 4.1g/t Au from 9m in MLAC037 (incl 7m @ 11.6g/t Au from 23m) and 
    • 14m @ 4.9g/t Au from 36m in MLAC037 (incl 9m @ 7.0g/t Au from 37m) 
    • 7m @ 4.1g/t Au from 14m in MLAC041 
    • 28m @ 2.3g/t Au from 41m in MLAC052 (incl 2m @ 9.6g/t Au from 63m) 
    • 15m @ 1.3g/t Au from 16m in MLAC066 and 
    • 6m @ 5.1g/t Au from 39m in MLAC066


Andy Beckwith, Technical Director commented: 

“Mallina drilling results have culminated in an escalation of our follow-up drilling plans with a larger and more comprehensive program of RC, diamond and aircore based on these encouraging new results and the improved geological control has commenced.


The program is planned to extend the current shallow resources along strike and down dip along the main 3km of resource area with deeper fences of RC drilling also targeting resource extensions to 200m depth initially at the Central Zone.


We continue to await many results over our two other priority areas Withnell and Toweranna and expect to provide updates during November. ”


De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to announce results of follow-up RC and aircore drilling at Mallina, targeting immediate extensions of the recent and previously released shallow high grade aircore intersections. 


Mallina has a resource of 3.83Mt @ 1.3g/t for 160,700oz* based on drilling to July 2018. Subsequent drilling has provided a substantial number of intersections outside the existing resource model. (*ASX release “2019 Total Gold Mineral Resource – 21% increase to 1.7Moz”, 16 July 2019).


The recent encouraging aircore results intersected new parallel lodes not previously identified that defined broad zones of shallow gold mineralisation from surface to approximately 50m depth that included 40m @ 3.9g/t Au, 28m @ 2.6g/t Au, 32m @ 1.6/t Au and 20m @ 1.7g/t Au (ASX release “New high grade gold zones at Mallina”, 27 September 2019). Recent detailed geological relogging has also markedly improved our understanding of the controls on mineralisation and alteration zonation which is expected to aid drill targeting.


The program comprising 22 RC holes, totalling 2,544m and 81 aircore holes, totalling 4,381m was completed to follow-up the encouraging aircore results. Table 1 provides a listing of all results (>2gm*m) and Figures 1-5 provide a summary of the new drilling results


A larger and more comprehensive program of RC, diamond and aircore based on these encouraging new results and the improved geological control has commenced. The program is planned to extend the current shallow resources along strike and down dip along the current 3km of resource area with deeper fences of RC drilling also targeting resource extensions to 200m depth initially at the Central Zone.


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HIGH GRADE GOLD ZONES

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New high grade gold zones at Mallina 

ASX Announcement 27 September 2019 


Significant new high grade and shallow gold zones intersected in aircore drilling; 

40m @ 3.9g/t Au from 8m incl 8m @ 9.2g/t Au and 12m @ 5.6g/t Au in MLAC037 

28m @ 2.6g/t Au from 40m incl 4m @ 5.4g/t Au in MLAC052 

32m @ 1.6/t Au from 16m incl 4m @ 5.8g/t Au in MLAC066 

20m @ 1.7g/t Au from 4m incl 8m @ 3.4g/t Au in MLAC041


New gold zones discovered 3km to west; 

8m @ 1.1g/t Au from 20m in MLAC101 

8m @ 0.6g/t Au from 52m in MLAC098


Resource potential substantially enhanced - all new zones are outside resource areas. 


Gold corridor now extended to +7km in strike length and remains open. 


Follow-up RC and aircore programs currently underway.


Andy Beckwith, Technical Director commented: 

“The new aircore drilling results are very encouraging and support our aggressive drilling campaign aiming to substantially increase resources. 


These new gold zones represent wide zones of new mineralisation well outside of the existing resource and importantly at shallow depths. The along strike potential remains open and follow-up aircore and RC drilling programs are already underway at Mallina, as they have the capacity to materially increase resources. 


Drilling for the remainder of 2019 will focus on resource extensions at Mallina, Withnell and Toweranna as our highest priority, together with a substantial aircore drilling program targeting new discoveries along the major highly prospective shear zones and intrusive targets in our large Pilbara Gold Province land position.” 


De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to announce an update on encouraging aircore drilling results from the Mallina deposit. Mallina has a defined gold resource of 3.83Mt @ 1.3g/t for 160,700oz* based on drilling to July 2018 and is hosted within a 7km long portion of the large regional scale Mallina Shear Zone. The deposit and surrounding targets have substantial exploration upside and are located only 15km from the Withnell deposit. (*ASX release “2019 Total Gold Mineral Resource – 21% increase to 1.7Moz”, 16 July 2019). 


A program of widely spaced aircore drilling comprising 104 holes, totalling 6,305m, was recently completed at Mallina. Drilling was undertaken on lines 200-400m apart, with holes spaced 40m on section. The drilling targeted new SAM geophysical targets and structural interpretation beneath the thin veneer of transported cover. Two sections were drilled 1.8km and 3.0km west of the Mallina resource area with holes at 80m intervals, along an interpreted extension of the Mallina Shear Zone corridor based on aeromagnetics.


Table 1 provides a listing of all results (>2gm*m) and Figure 1 and 2 provides a summary of the new drilling results.


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100% OWNERSHIP OF INDEE GOLD

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De Grey Mining (ASX:DEG)

ASX Announcement 23 August 2019

 

100% Ownership of Indee Fold and 3 Rigs Operating 

 

  • Settlement on Indee Gold provides 100% ownership
  • 1.7Moz* resource base and potential for substantial resource growth
  • Next phase of exploration is funded with 3 rigs currently operating

 

Simon Lill, Executive Chairman commented:

“Today is a major milestone for De Grey and an extremely pleasing conclusion to a process that we commenced in February 2017 where, with a market capitalisation of ~ $3.5M, we reached agreement with our Chinese partners and friends to acquire Indee Gold Pty Ltd for $15M. 


Since this time, we have rapidly grown the overall project resources to 1.7Moz and can clearly see significantly more ounces on the horizon. We now have 100% control of one of the best underexplored new gold provinces in Australia. 


We are fully funded to continue our focus on growing resources at our five large and under drilled resource areas, Toweranna, Withnell, Mallina, Mt Berghaus, and Wingina and we are also embarking on regional drilling for the first time in the search for new discoveries along our 200km of highly prospective shear zones and new intrusion targets.”


De Grey Mining Limited (“De Grey”, “Company” or “DEG”) is pleased to announce that it has completed the acquisition of Indee Gold Pty Ltd, and the ramp up of drilling programs commenced in early August with 3 rigs now actively operating on site at Toweranna, Withnell, Mallina and on new regional targets.



 

Click here to view the full announcement 









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