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De Grey Mining Ltd.
Summary
| Project: | Pilbara | |
|---|---|---|
| Deposit: | Mallina | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 7-8-2017: De Grey Mining Ltd. announces an Exploration/Drilling Update report for its Mallina deposit at the Pilbara project. Drilling results incl. 37m @ 1.73g/t Au from 33m. De Grey Mining Ltd (ASX: DEG, “De Grey” “Company”) is pleased to report that fi | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Phillip Tornatora (Internal) | |
| ABSTRACT: | De Grey Mining Ltd (ASX: DEG, “De Grey” “Company”) is pleased to report that final assay results from all 1m resplit samples have been received from the RC drilling program at the Mallina prospect (Figure 1). Mallina is located approximately 15km from the proposed processing plant at De Grey’s Pilbara Gold Project, located near Port Hedland Western Australia. The Company is currently progressing a prefeasibility study on the recommencement of gold mining at the project. De Grey is targeting a minimum 7 year mine life (base case) for a proposed standalone 1Mtpa processing plant. Mallina’s location and initial results confirm it as a high priority resource target with strong potential to add additional shallow open pit gold resources to the project’s existing 1.0Moz resources (JORC 2012). The recent scoping study completed by De Grey 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). De Grey recently completed a 90 hole RC drilling program at Mallina for 7,588m (Figure 2) following-up previously defined wide-spaced gold zones along the 3.2km east-trending Mallina structural corridor. The drilling tested specific zones of mineralisation to a nominal 100m vertical depth on 50m spaced lines. A maiden resource estimate for Mallina is now underway. Gold mineralisation and associated alteration zones occur as linear multiple stacked lodes hosted within metasediments. The strongest gold results were defined in the Central Area (Lode 4) comprising robust and continuous broad intercepts over a 600m strike length. Lode 4 remains open in all directions, as do many of the other lodes (Figure 2-5). | |
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