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De Grey Mining Ltd.
Summary
| Project: | Turner River | |
|---|---|---|
| Deposit: | Mt Berghaus | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-1-2017: De Grey Mining Ltd. announces a Resource Estimation report for its Mt Berghaus deposit at the Turner River project. Mt Berghaus resource increases by 98,000oz Au. De Grey Mining Limited is pleased to announce an updated Mineral Resource for the | |
| Resources: | (Resource, I+I): 3.52Mt @ 1.2g/t Au for 141000oz Au contained at Mt Berghaus (0.5g/t Au cut-off) | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services) | |
| ABSTRACT: | De Grey Mining Limited is pleased to announce an updated Mineral Resource for the Mt Berghaus Gold Prospect forming part of the 100% owned Turner River Project, located near Port Hedland in the Pilbara region of Western Australia. The update was completed to include the results of RC drilling recently completed by De Grey. Modelling and estimation was completed by Payne Geological Services Pty Ltd, an external and independent mining consultancy. The previous resource estimate was 0.9Mt @ 1.4g/t for 43,000oz using a 0.5g/t cut-off. The new resource shows an overall 227% increase in reported ounces. This increase is due to the definition of extensions to the known mineralisation at Mt Berghaus and the discovery of new mineralised zones at North Lode and West Berghaus Prospects. The Mt Berghaus Central, North Lode and Berghaus West deposits are controlled by the Mallina Shear Zone and occurs within deformed metasediments of Archean age. Mineralisation is developed within a NE-SW striking, sub-vertical zone with resource grade mineralisation defined to date in three separate areas. The Mt Berghaus zone has a strike extent of 1.4km while the North Lode and West Berghaus zones have strike extents of 160m and 350m respectively. All zones have been reported above a depth of 120m. Gold mineralisation is associated with zones of quartz veining developed as multiple steep lodes within metasediments. The deposit has a typical depth of oxidation of 40m to 60m and over 50,000oz of the Mineral Resource lies within oxidised and transitional material. | |
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