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De Grey Mining Ltd.

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Summary

Project:

Pilbara

Deposit:Mallina, Toweranna
Location:Australia
Commodities:Gold
Date:10/15/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Pre-Feasibility Study
Report details:15-10-2018: De Grey Mining Ltd. announces an Exploration/Drilling Update report for its Mallina, Toweranna deposit at the Pilbara project. Drilling results incl. 17.3m @ 3.91g/t Au from 50m. De Grey exploration manager, Mr Phil Tornatora, commented that:
Resources:(Resource, Total): 27.25Mt @ 1.6g/t Au for 1.393Moz Au contained
CP/QP:[Overall Report]: Phillip Tornatora (Internal)
ABSTRACT:De Grey exploration manager, Mr Phil Tornatora, commented that: “Mallina has provided one of the best intersections across the project area that we have seen. A wide zone of intense alteration and sulphide development with 56m of mineralisation demonstrates the large scale of this system. The recent resource upgrade at Mallina is all above 100m, so there is plenty of opportunity for ongoing resource increases as we continue step out drilling. Toweranna continues to show more of the same – high grade vertically stacked sheeted veins that we expect to continue through the northern and eastern granite contacts and at depth, which our next program will test”. De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to report on new diamond drilling results from the Toweranna and Mallina Gold Deposits within the Pilbara Gold Project, located 75km from Port Hedland, Western Australia (Figure 1). The Pilbara Gold Project has excellent potential to define significant additional resource ounces along its 200 km plus strike length of mineralised shears zones throughout the large 1,480 km2 landholding. To date, approximately 10% of the shear zones have received detailed shallow RC and diamond drilling to a nominal depth of 100-150m and have already successfully defined 1.4Moz (JORC 2012*) of gold resources. The Company is actively ramping up exploration throughout the tenement package in a drive to upgrade and expand known resources, as well as discover new deposits. There are over 40 identified yet untested soil anomalies along the highly prospective regional scale shear zones and conglomerates. The Company aims to significantly increase resources throughout the under-explored and highly prospective project area. During 2018 the Company carried out an infill and extensional RC drilling program, targeting improved and additional resources at the Mt Berghaus, Mallina, Toweranna, Amanda and Withnell gold deposits. Regional exploration drilling is currently ongoing on the Farno JV tenement at the Clarke and White Quartz Hill prospects.

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