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De Grey Mining Ltd.
Summary
| Project: | Pilbara | |
|---|---|---|
| Deposit: | Heap Leach | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 8-8-2017: De Grey Mining Ltd. announces an Exploration/Drilling Update report for its Heap Leach deposit at the Pilbara project. Drilling results incl. 4.5m @ 20.2g/t Au from 0m. “We anticipate the Heap Leach Stockpile will prove to be a significant sourc | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Phillip Tornatora (Internal) | |
| ABSTRACT: | “We anticipate the Heap Leach Stockpile will prove to be a significant source of easily processed material located right next door to the proposed plant without any mining cost burden. Metallurgical data on the Withnell and Camel oxide resources, the source of the Heap Leach Stockpile, ranges between 90-95% recoveries based on processing through a CIL plant. Accordingly, De Grey anticipates improved cashflows from this material when included in the pre-feasibility study. De Grey Mining Ltd (ASX: DEG, “De Grey” “Company”) is pleased to report results from a drilling program that was recently completed at the Heap Leach Stockpile. The Stockpile is located adjacent to the proposed processing plant at De Grey’s Pilbara Gold Project, located near Port Hedland Western Australia. De Grey is targeting a minimum 7 year mine life (base case) with a standalone, new purpose built 1Mtpa processing plant. The recently completedscoping study has highlighted significant financial gains are to be expected with the addition of further mine life (ASX release “Positive Scoping Study completed at Pilbara Gold Project”, dated 4 August 2017). The Heap Leach Stockpile is considered an important additional resource. Whilst the overall resource is expected to be low grade (< 1g/t), the resource is already mined and crushed to minus 25mm and has the potential to be processed in the proposed plant. As the stockpile is already adjacent to the proposed plant it is considered a useful source of plant feed to cover rain events that might delay delivery of ore from more distant sources | |
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