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De Grey Mining Ltd.
Summary
| Project: | Pilbara | |
|---|---|---|
| Deposit: | Toweranna | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 2-2-2018: De Grey Mining Ltd. announces an Exploration/Drilling Update report for its Toweranna deposit at the Pilbara project. Drilling results incl. 4m @ 19.14g/t Au from 51m. De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to report | |
| Resources: | (Resource, Total): 0.43Mt @ 2.9g/t Au for 40.7Koz contained at Toweranna | |
| CP/QP: | [Overall Report]: Phillip Tornatora (Internal) | |
| ABSTRACT: | De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to report on drilling programs at the Toweranna and Blue Moon prospects within the Pilbara Gold Project, located approximately 100km from Port Hedland, Western Australia. The Company is undertaking continued exploration for additional resources and progressing detailed feasibility studies as it plans to establish a new processing plant and future gold production based on an initial open pit mining strategy. The existing gold resources at the Pilbara Gold Project currently stands at > 1.2Moz across a series of deposits. Specifically, the Toweranna prospect has a defined resource (JORC 2012) of 0.43Mt @ 2.9g/t Au for 40,700oz (ASX release “Pilbara Gold Project increases gold resources by >20% to over 1.2Moz, 28 September 2017). This existing resource is currently confined to only the lodes intersected along the Western Contact between the granite intrusion and sediments. An RC drilling program was undertaken in November/December 2017, with initial four metre composite drill results previously reported in December 2017. Resampling on a 1m basis confirms the earlier four metre composite intersections, with some variation evident most likely due to the nuggetty gold nature of mineralisation and issues with homogenising representative four metre RC composite samples. Importantly, the new 1m resampling results confirm strong mineralisation extends further along strike and at depth outside of the existing resource and also provides strong indications of further high-grade lodes along the Southern Contact. Further infill and extensional drilling is required to allow the update of the resource particularly along the Southern Contact. The Eastern and Northern Contacts remain essentially untested and scout drilling will aim to test these two zones further. | |
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