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De Grey Mining Ltd.
Summary
| Project: | Turner River | |
|---|---|---|
| Deposit: | Wingina | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/26/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-10-2016: De Grey Mining Ltd. announces a Resource Estimation report for its Wingina deposit at the Turner River project. Resource incresed by 20000oz of Au for the project. De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to announce | |
| Resources: | (Resource, Total):5.49Mt @ 1.6g/t Au for 288000oz Au contained | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services) | |
| ABSTRACT: | De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to announce the new updated Mineral Resource Estimate for its 100% owned Wingina Well Gold Deposit, located near Port Hedland in the Pilbara region of Western Australia. The resource update was completed mainly to quantify the size and extent of the identified higher grade gold lode(s) that occur within the broader mineralised system at Wingina. It has also included the results of recent extensional drilling. completed by De Grey The modelling and estimation was completed by Payne Geological Services Pty Ltd, an external and independent mining consultancy, using data provided by De Grey. The previous resource estimate was 5.1Mt @ 1.6g/t for 268,000oz using a 0.5g/t cutoff above -55mRL and 1.0g/t cut-off below -55mRL (~155m below surface). The new resource shows an overall 7% increase in reported ounces. This increase is primarily attributed to the individual modelling of the high grade lodes within the mineralised system. Other increases relate to lowering the depth of the 0.5g/t cut-off to -100mRL instead of the previous -55mRL and incremental additions related to the recent drilling. Strongly developed oxide gold mineralisation is evident averaging over 1,200 oz/vm from surface to 140 metres below surface, peaking at 1622 oz/vm between 60m and 80m below surface. | |
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