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De Grey Mining Ltd.
Summary
| Project: | Turner River | |
|---|---|---|
| Deposit: | Discovery | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Lead-Zinc-Copper | |
| Date: | 7/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-7-2016: De Grey Mining Ltd. announces an Exploration/Drilling Update report for its Discovery deposit at the Turner River project. Drilling results incl. 24m @ 1.56g/t Au, 289.9g/t Ag, 5.12% Zn, 2.92% Pb, 0.26% Cu from 68m. De Grey Mining Ltd (ASX: DEG | |
| Resources: | (Resource): 1.2Mt @ 0.8g/t Au, 87.0g/t Ag, 2.34% Zn, 0.94% Pb at Discovery | |
| CP/QP: | [Overall Report]: Andrew Beckwith (Internal) | |
| ABSTRACT: | De Grey Mining Ltd (ASX: DEG, “De Grey”, “Company”) is pleased to advise that results for the first 21 of the 24 RC drill holes for the Discovery (Au-Ag-Zn-Pb) deposit have been received. All the results received to date comprise of nominal 4m composite samples with detailed 1m resampling currently underway. At the Discovery deposit, a total of 24 holes were completed for an advance of 1646m. The drilling targeted near surface high grade mineralisation previously defined by shallow RAB and limited RC drilling. The drilling programme has confirmed shallow high grade mineralisation now extends over at least 300m along strike (Figure 1). Further extensions are possible with the remaining three drill holes still pending. Previous deeper diamond drilling also demonstrates the high grade VMS style Au-Ag-Zn-Pb-Cu mineralisation continues at depth to at least 250m and remains open in most directions. The Discovery deposit is a VMS style of gold, silver and base-metals. VMS deposits are well known with approximately 20% of the world’s copper and zinc production sourced from such deposits. The deposits generally occur in clusters making them very attractive and high value exploration targets. Clusters of VMS deposits are already known in the Pilbara region with De Grey’s 100% owned Orchard Tank (see below) only 2km away from Discovery. De Grey has also proven VMS style mineralisation at Tabba Tabba and has other exploration targets under consideration. | |
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