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De Grey Mining Ltd.
Summary
| Project: | Pilbara | |
|---|---|---|
| Deposit: | Pilbara | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/16/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 16-7-2019: De Grey Mining Ltd. announces a Resource Estimation report for its Pilbara deposit at the Pilbara project. Mineral resource update - 21% increase in contained ounces. De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to announc | |
| Resources: | (Resource, Total): 29.65Mt @ 1.8g/t Au for 1.68Moz Au contained at project | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services) | |
| ABSTRACT: | De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to announce a significant 21% increase in the July 2019 Total Gold Mineral Resource (JORC 2012) at the Pilbara Gold Project, located near Port Hedland in the Pilbara region of Western Australia. Andy Beckwith, Technical Director commented: “At Withnell, improved definition and extensions to the high grade underground lodes is a strong step forward. The average gold grade is 4.1g/t for 291,900 ounces, at the 2g/t lower cut off and jumps to 5g/t for 228,000 ounces at a 3g/t lower cut off. Withnell’s underground resource grade compares well to many operating underground gold mines in Western Australia. Toweranna has increased 148% to 356,600 ounces and becomes the second largest resource in the project. The potential for a larger open pit looks favourable due to the circular shape, multiple stacked lodes to 200m and the 2.1g/t grade. We are looking forward to completing our program of deeper scout diamond drilling initially to 600m and then our co-funded hole to 1000m depth. Our expectation is the stacked lodes will continue at depth throughout the intrusion and support our next Toweranna exploration target of 9.6Mt – 11.2Mt @ 2.1g/t to 2.3g/t for 680,000oz – 800,000oz* to 400m depth. Both Withnell and Toweranna are expected to play a significant role in achieving our corporate goal of 3.0Moz. “ #ASX release: 13 March 2019 Toweranna –high impact resource extension drilling underway | |
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