Proactiveinvestors Australia De Grey Mining Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia De Grey Mining Ltd RSS feed en Tue, 21 May 2019 08:40:44 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - De Grey Mining completes ore sorting test work from its Toweranna Gold deposit in WA ]]> https://www.proactiveinvestors.com.au/companies/news/219751/de-grey-mining-completes-ore-sorting-test-work-from-its-toweranna-gold-deposit-in-wa-219751.html De Grey Mining Limited (ASX:DEG) has confirmed positive results from ore sorting test work undertaken on geological samples from the Toweranna gold deposit within its wider Pilbara Gold Project in Western Australia.

Mineralised quartz and sulphide vein material was efficiently separated from non-mineralised host granitoid and sediments using single-pass laser sorting at a coarse feed size of 20-100 millimetres.

The test work, which was undertaken by TOMRA Sorting Pty Ltd, was completed on five distinct geological rock types from a single drill hole at Toweranna.

TOMRA was requested to assess the various rock types and if feasible to demonstrate that the mineralised quartz-sulphide vein material could physically and efficiently be separated from the non-mineralised waste rock types.

READ: De Grey Mining hits bonanza gold grades up to 58.9 g/t at Toweranna deposit

The composite sample was sorted using laser scanning and a second pass of X-RAY Transmission (XRT) scanning was undertaken on the waste product to determine if any sulphide mineralisation remained.

XRT results showed there were negligible sulphide minerals remaining in the waste product.

The evaluation was set to retain any fragments with less than 5% quartz by area.

Notably, the laser scanning, which targets identification and retention of quartz veining, has accurately retained almost all fragments with any quartz veining.

Assays of the material have not been undertaken as this preliminary sampling was designed to provide only rock type characterisation.

READ: De Grey Mining in trading halt ahead of material exploration results from Pilbara Gold Project

De Grey has planned further ore sorting testing to target known mineralised intersections as well as to determine the potential increased grade through ore sorting prior to concentration.

Grade increases are expected with ore sorting as the gold is known to be almost exclusively hosted in the quartz-sulphide veins based on detailed core samples and gold results.

 Visible gold in quartz-sulphide vein

 

The company considers the results to be excellent and clearly demonstrate the potential to upgrade and concentrate the quartz-vein material prior to trucking to the proposed processing plant.

Test work results provide additional confidence that ore sorting may provide substantial added benefits through enhanced grade increases, improving future economics at Toweranna.

De Grey consideres ongoing conventional metallurgical test work, ore sorting and financial evaluation warranted.

The company's planned activities include finalising metallurgical test work on the purpose-drilled PQ core, which has been well-advanced by ALS Metallurgy.

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Mon, 06 May 2019 23:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219751/de-grey-mining-completes-ore-sorting-test-work-from-its-toweranna-gold-deposit-in-wa-219751.html
<![CDATA[News - De Grey Mining hits bonanza gold grades up to 58.9 g/t at Toweranna deposit ]]> https://www.proactiveinvestors.com.au/companies/news/218540/de-grey-mining-hits-bonanza-gold-grades-up-to-589-gt-at-toweranna-deposit-218540.html De Grey Mining Limited (ASX:DEG) has intersected bonanza grade gold of up to 58.9 g/t at the Toweranna deposit within the wider Pilbara Gold Project in WA.

These grades were returned from broad intersections in gold zones below and east of the existing resource model that are expected to support material resource extensions at Toweranna.

The best bulk intersection of 136 metres at 2.0 g/t from 94 metres includes 26 metres at 3.07 g/t and 29 metres at 4.38 g/t.

READ: De Grey Mining works toward target of 2 million Pilbara gold ounces by year-end

These results are from the first 12 holes for a total of 2,888 metres of a planned 5,400-metre resource extension drilling program.

The drilling has been completed on a 40 by 40-metre basis targeting lateral and depth extensions to the existing shallow 2018 Toweranna mineral resource of 2.01 million tonnes at 2.2 g/t for 143,900 ounces.

Material extensions "likely"

De Grey Mining technical director Andy Beckwith said: “We are very pleased with these new drill results as they confirm strong gold mineralisation occurs to at least 200 metres below surface and material extensions are likely with further drilling.

“The potential to extend resources from 200 to 400-metre depth will be our next focus.

“The bonanza high-grade nature of some of the individual veins is also particularly encouraging as it suggests selective or bulk underground mining methods may be possible.

“Importantly the new drilling shows Toweranna has multiple stacked lodes across the entire intrusion, strong mineralisation extending at depth and remains.

“This is a new style of mineralisation for the Pilbara and similar style deposits elsewhere around the world validates the potential for large scale and multi-million-ounce resources.”

High-grade results

Results below 100 metres include:

29 metres at 4.38 g/t from 201 metres, including 1-metre at 41.9 g/t and 2 metres at 29.9 g/t; 26 metres at 3.07 g/t from 94 metres, including 5 metres at 8.36 g/t; 6 metres at 6.45 g/t from 135 metres, including 1-metre at 20.3 g/t; 6 metres at 3.5 g/t from 204 metres; 3 metres at 7.02 g/t from 150 metres; and 5 metres at 5.04 g/t from 218 metres, including 1 metre at 22.9 g/t.

Many of the new lodes show individual veins of 1-2 metres width with bonanza gold grades in excess of 20 g/t and include individual intercepts of 1-metre at 58.9 g/t, 1-metre at 20.3, 1-metre at 51.7, 2 metres at 22.15, 1-metre at 22.9, 1-metre at 22.7, 1-metre at 21.4, 1-metre at 41.9 and 2 metres at 29.9.

This bonanza high-grade mineralisation is also demonstrated by historic small scale underground mining along selected shallow lodes that partially outcrop along the western contact where the mine produced 5,000 ounces at gold at an average grade of 40 g/t.

The very high grades provide added support for potential underground mining at depths beyond any open pit mining.

READ: De Grey Mining director steps up and buys company shares on-market

The existing resource occurs mostly along the western and southern portions of the granitoid plug and is constrained by the limit of drilling down to about 100 metres depth.

New drilling has intersected significant shallow lateral lode extensions and new lodes within the upper 100-metre zone.

The deeper drilling, generally to 250 metres downhole, has continued to extend existing lodes east of the resource model and intersected numerous stacked lodes at depth.

De Grey has planned the next round of reverse circulation drilling to extend and define the lodes down to about 200 metres below surface with diamond drilling planned to test and extend mineralisation to at least 400 metres.

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Mon, 15 Apr 2019 13:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218540/de-grey-mining-hits-bonanza-gold-grades-up-to-589-gt-at-toweranna-deposit-218540.html
<![CDATA[News - De Grey Mining in trading halt ahead of material exploration results from Pilbara Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/218375/de-grey-mining-in-trading-halt-ahead-of-material-exploration-results-from-pilbara-gold-project-218375.html De Grey Mining Limited (ASX:DEG) has been granted a trading halt by the ASX with an announcement pending in relation to material exploration results from the Pilbara Gold Project in WA.

The company expects to be able to make an announcement on or before Monday, April 15, 2019.

A trading halt will remain in place until the beginning of trade on April 15 or when an announcement is released to the market, whichever occurs earliest.

De Grey is focused on its flagship Pilbara Gold Project about 60 kilometres south of Port Hedland and east of Novo Resources Corp (CVE:NVO) ground in the Pilbara.

READ: De Grey Mining works towards target of 2 million Pilbara gold ounces by year-end

Last month the company increased the size of the plant in its development study to a 2 million tonnes per annum throughput.

The increase was put down to a 40% increase in resources from the project’s 2017 scoping study, recent exploration successes and the potential of De Grey’s project tenements as well as increases in gold recoveries between 90% and 94%.

The scoping study suggested average annual production would be nearly 60,000 tonnes. 

READ: De Grey Mining confirms further high-grade gold drilling results at Withnell

The company received high-grade drilling results from the Withnell gold deposit, an integral part of its 1.4 million ounce Pilbara Gold Project, which include:

5 metres at 7.8 g/t gold from 43 metres, including 2 metres at 14.95 g/t gold;  2 metres at 11.14 g/t gold from 61 metres, including 1 metre at 20.6 g/t; and  8 metres at 20.11 g/t from 168 metres, including 4 metres at 38.5 g/t.  ]]>
Thu, 11 Apr 2019 14:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218375/de-grey-mining-in-trading-halt-ahead-of-material-exploration-results-from-pilbara-gold-project-218375.html
<![CDATA[News - De Grey Mining works towards target of 2 million Pilbara gold ounces by year-end ]]> https://www.proactiveinvestors.com.au/companies/news/217322/de-grey-mining-works-towards-target-of-2-million-pilbara-gold-ounces-by-year-end-217322.html De Grey Mining Limited (ASX:DEG) specialises in gold exploration in the prospective Pilbara region of Western Australia. It is run by an executive team that includes executive chairman Simon Lill and executive technical director Andy Beckwith.

Lill is a corporate adviser with more than 25 years experience in stockbroking, capital raising, management, business development and analysis for resource industry and manufacturing companies.

Beckwith is a geologist with more than 30 years geological and management experience. As managing director of Westgold Resources Ltd (ASX:WGX) (FRA:0W2) (OTCMKTS:WTGRF) he built up the company’s inventory to about 5 million ounces of resources and previously held senior roles with AngloGold Ashanti Limited (ASX:AGG) (NYSE:AU) (JSE:ANG) (FRA:AOD1) in Australia.

What does De Grey own?

The key asset is the company’s Pilbara Gold Project east of Novo Resources Corp (CVE:NVO) (FRA:1NO) (OTCMKTS:NSRPF) ground in the Pilbara region of Western Australia.

The 1.4 million ounce gold project about 60 kilometres south of Port Hedland has JORC-defined structural gold resources, with conglomerate gold also found at the large project which extends over more than 1,500 square kilometres.

Last month the company increased the size of a plant in its development study to a 2 million tonnes per annum (Mtpa) throughput.

The increase was put down to a 40% increase in resources from the project’s 2017 scoping study, recent exploration successes and the potential of De Grey’s project tenements, recent material increases in gold recoveries to between 90% and 94% and a simplified processing plant flowsheet.

De Grey's scoping study had suggested average annual production would be nearly 60,000 ounces.

The company is confident of defining new resource additions, highlighting the potential for higher grade underground lodes below at least 4 deposits.

In October 2018 the company had estimated only 10% of its shear zones had received detailed shallow RC and diamond drilling to a nominal depth of 100 to 150 metres.

A mineralised shear zone at the project extends more than 200 kilometres.

Earlier this month, the company reported further high-grade gold drilling results at Withnell gold deposit and started extension drill program at Toweranna.

Highlight intersections from Withnell included: 5 metres at 7.8 g/t gold from 43 metres including 2 metres at 14.95 g/t; 2 metres at 11.14 g/t from 61 metres, including 1 metre at 20.6 g/t; and 8 metres at 20.11 g/t from 168 metres, including 4 metres at 38.5 g/t.

De Grey executive chairman Simon Lill reported on March 20, 2019: “These drilling results are extremely encouraging.

“We have set an initial resource target of 2 million ounces by the end of 2019 and we believe Withnell and Toweranna provide a clear runway toward that number.

“Drilling is advancing at both deposits with two rigs operating, so there will be a steady stream of exploration results in the forthcoming months.”

The 5,000-plus-metre step-out reverse circulation (RC) drill program at Toweranna deposit is targeting resource extensions to a minimum of 200-250 metres depth before diamond drillers then target 400-metre then 800-metre depths.

Toweranna currently hosts 143,900 ounces at 2.2 g/t gold but has an exploration target accounting for 400-metre depth measures of 680,000-800,000 ounces grading 2.1-2.3 g/t gold.

De Grey hopes to define at least 2 million ounces by the end of 2019 while continuing to target a low per-ounce discovery cost.

The company had $5.5 million cash at the end of 2018 and tipped $2.5 million of cash outflows in the March quarter of 2019.

De Grey’s next quarterly reports are expected by the end of April 2019.

Inflection points

Resource upgrades for the flagship Pilbara project

Nearby success from structural and conglomerate gold explorers and developers

Significant regional transactions related to conglomerate gold mineralisation

Capital raisings and feasibility study progress

Strategic partnerships and mergers & acquisitions

Chairman Simon Lill highlights company vision

“De Grey is an exciting Australian gold growth story with a material and near-term development opportunity in one of the world’s best mining jurisdictions,” De Grey executive chairman Simon Lill told the market on February 22, 2019.

“Our vision is very simple; we have our foot on a significant new gold province, two drill rigs on site, aiming to grow resources towards 3 million ounces and ultimately transition De Grey into a new Australian gold producer.”

De Grey Mining technical director and operations manager Andrew Beckwith will present at 9.45am on day 3 of the upcoming May 7-9 RIU Sydney Resources Round-up at Sofitel Sydney Wentworth.

 

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Wed, 27 Mar 2019 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217322/de-grey-mining-works-towards-target-of-2-million-pilbara-gold-ounces-by-year-end-217322.html
<![CDATA[News - De Grey Mining director steps up and buys company shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/217273/de-grey-mining-director-steps-up-and-buys-company-shares-on-market-217273.html De Grey Mining Ltd’s (ASX:DEG) recently appointed non-executive Peter Hood has purchased 500,000 shares in the company for $49,109 via on-market trades.

The purchase doubles the size of Hood’s holding in the company to one million shares, further aligning himself with shareholders and the future success of De Grey.

During November 2018, De Grey appointed Peter Hood as non-executive director.

He is a chemical engineer and has had a distinguished career in the Australian mining and chemical industries.

He is also a past president of the Australian Chamber of Commerce and Industry and the Chamber of Commerce and Industry of Western Australia.

READ: De Grey Mining confirms further high-grade gold drilling results at Withnell

Most recently, De Grey received further high-grade drilling results from the Withnell gold deposit, an integral part of its 1.4 million ounce Pilbara Gold Project in Western Australia.

Highlight intersections include:

• 5 metres at 7.8 g/t gold from 43 metres including 2 metres at 14.95 g/t gold;
• 2 metres at 11.14 g/t gold from 61 metres including 1 metre at 20.6 g/t gold; and
• 8 metres at 20.11 g/t gold from 168 metres including 4 metres at 38.5 g/t gold.

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Wed, 27 Mar 2019 08:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217273/de-grey-mining-director-steps-up-and-buys-company-shares-on-market-217273.html
<![CDATA[News - De Grey Mining confirms further high-grade gold drilling results at Withnell ]]> https://www.proactiveinvestors.com.au/companies/news/216801/de-grey-mining-confirms-further-high-grade-gold-drilling-results-at-withnell-216801.html De Grey Mining Ltd (ASX:DEG) has received further high-grade drilling results from the Withnell gold deposit, an integral part of its 1.4 million ounce Pilbara Gold Project in Western Australia.

Highlight intersections include:

• 5 metres at 7.8 g/t gold from 43 metres including 2 metres at 14.95 g/t gold;
• 2 metres at 11.14 g/t gold from 61 metres including 1 metre at 20.6 g/t gold; and
• 8 metres at 20.11 g/t gold from 168 metres including 4 metres at 38.5 g/t gold.

West Lode 1 long-section showing new drill hole intercepts and growing plunging shoot geometry

De Grey chairman Simon Lill said: “These drilling results are extremely encouraging.

“We have set an initial resource target of 2 million ounces by the end of 2019 and we believe Withnell and Toweranna provide a clear runway toward that number.

“Drilling is advancing at both deposits with 2 rigs operating, so there will be a steady stream of exploration results in the forthcoming months.”

 

Withnell is currently the largest deposit (6.37 million tonnes at 1.8 g/t gold for 377,300 ounces) within the project area.

The gold mineralisation is hosted by the 60 kilometres long, east-west trending regional scale Mallina Shear Zone.

The Mallina Shear Zone is considered highly prospective for further discoveries both along strike under the thin veneer of sand cover and at depth beneath the existing shallow resources.

READ: De Grey Mining enhances Pilbara Gold Project’s development study scale to 2Mtpa

Withnell, Toweranna and Wingina deposits show considerable potential to substantially increase underground resources that are likely to positively impact the expanded 2 million tonnes per annum pre-feasibility study (PFS) currently underway.

These latest drill results further support the Withnell Underground Exploration Target of 2.6 to 3.5 million tonnes at 4 g/t to 6.5 g/t gold for 330,000 to 720,000 ounces.

High-grade drill results continue to enhance resource potential

A +10,000 metre reverse circulation and diamond drilling program continues to target the high-grade lodes beneath the proposed Withnell Open Pit.

The gold mineralisation occurs as multiple vertical lodes associated with pyrite veining and alteration and results are starting to highlight a series of high-grade plunging shoots which is expected to aid future drill targeting and increase the positive hit rate.

The current program is designed to expand resources immediately below the 1300 metres long proposed open pit and provide scope to extend mining underground on high-grade vertical lodes.

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Wed, 20 Mar 2019 13:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216801/de-grey-mining-confirms-further-high-grade-gold-drilling-results-at-withnell-216801.html
<![CDATA[News - De Grey Mining commences extension drill program at Toweranna ]]> https://www.proactiveinvestors.com.au/companies/news/216329/de-grey-mining-commences-extension-drill-program-at-toweranna-216329.html De Grey Mining Ltd (ASX:DEG) has commenced a 5,000+ metre step-out reverse circulation (RC) drill program at its Toweranna deposit within the Pilbara Gold Project in Western Australia.

Drilling will target resource extensions to a minimum of 200-250 metres depth and then diamond drilling will target 400 metres depth and then 800 metres depth.

Toweranna currently hosts 143,900 ounces at 2.2 g/t gold but an Exploration Target accounting for 400 metres depth measures 680,000-800,000 ounces grading 2.1-2.3 g/t gold.

De Grey has set a corporate goal of increasing overall project resources at the Pilbara Gold Project to 2.0 million ounces from 1.4 million ounces by the end of 2019.

READ: De Grey Mining drills extensions at Pilbara Gold Project

De Grey’s technical director Andy Beckwith said: “Toweranna is growing in stature with every drill hole and the shallow resource potential to 200-250 metres depth provides the opportunity to underpin a substantial step-change in the future open pit dimensions and economics.

“This new style of mineralisation in the region demands attention with high priority resource extension drilling underway.

“On the regional exploration front, we are assessing two early-stage targets for similar style granite-hosted gold, one to the east of Toweranna and another southwest of Mt Berghaus.”

Promising diamond drilling results

Separately, a drill program comprising 175 metres of RC pre-collars and 747 metres of diamond drilling was recently completed at Toweranna.

Highlights from the Eastern Zone included 5.8 metres at 5.79 g/t gold from 140.2 metres and 7 metres at 4.02 g/t gold from 8 metres.

Highlights from the Western Zone included 10.4 metres at 4.93 g/t gold from 8 metres and 4.8 metres at 9.94 g/t gold from 48.2 metres.

The Western Zone drilling confirmed high-grade mineralisation and similar east dipping quartz veins as seen in the western zone.

New RC resource drilling has now been planned based on this vein orientation and is in progress.

One hole drilled for metallurgical purposes

One of the above holes was drilled specifically for metallurgical purposes.

The results confirm the previous RC drilling lodes and provide good quality core for detailed metallurgical test work which is be used in the expanded pre-feasibility study work.

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Wed, 13 Mar 2019 09:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216329/de-grey-mining-commences-extension-drill-program-at-toweranna-216329.html
<![CDATA[News - De Grey Mining drills extensions at Pilbara Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/216049/de-grey-mining-drills-extensions-at-pilbara-gold-project-216049.html De Grey Mining Ltd (ASX:DEG) has received drill results from the Wingina and Amanda gold deposits within the Pilbara Gold Project in Western Australia.

At Wingina has successfully targeted extension to the mineralisation at depth and to the northeast along strike.

Drilling confirmed down dip extensions to 300 metres below surface and 150 metres northeast of resource.

Results included 6.35 metres at 3.37 g/t gold and 12.66 metres at 1.75 g/t gold.

Further step-out drilling is being planned to test down dip extensions below the resource.

The 25-hole reverse circulation (RC) drilling program at the Amanda deposit has also extended mineralisation beyond the resource model.

Results indicate mineralisation remains open along strike and at depth and further resource increases can be expected with further drilling.

Follow up drilling programs at Amanda are currently being assessed.

READ: De Grey Mining setting the table for a takeout: Red Cloud Klondike Strike

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Fri, 08 Mar 2019 10:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216049/de-grey-mining-drills-extensions-at-pilbara-gold-project-216049.html
<![CDATA[News - De Grey Mining setting the table for a takeout: Red Cloud Klondike Strike ]]> https://www.proactiveinvestors.com.au/companies/news/216012/de-grey-mining-setting-the-table-for-a-takeout-red-cloud-klondike-strike-216012.html De Grey Mining Ltd’s (ASX:DEG) Pilbara Gold project in Western Australia has a 1.4 million ounces gold resource spread across multiple deposits.

Canadian exempt market dealer Red Cloud Klondike Strike Inc believes De Grey is worth 30 cents per share based on its initial NAVPS (net asset value per share) estimate of 44 cents per share and a multiple of 0.70x.

Following is an extract from Red Cloud’s research report:

In our view, De Grey is one of the few development companies with a path to produce plus 100koz/year, have exceptional exploration upside in +200km of shear zones and trading at a steep discount to its peer group.

We believe that the Pilbara Gold Project is of a scale and has the exploration upside that we believe makes De Grey an attractive target for mid-tier producers.

Investment Thesis

Already +100k/year potential.  We believe that with a planned throughput of 2Mtpa (~5,500tpd) De Grey would produce 143koz per year at cash costs of US$621/oz for initial capex of US$98M.

Our estimates assume production starts in CY2022E and includes production from multiple deposits, with 59% from open pits and 41% from underground.

Room to grow, a lot. The company’s 1.4Moz resource is spread over 5 main deposits (12 total). Drilling has focused on growing these deposits near surface; however, most remain open along strike and all are open at depth.

De Grey believes the resource could grow to over 3Moz and with +200km of favourable structure, of which less than 10% has been properly tested with RC and diamond drilling, we believe this is very possible.

The right ingredients to be a target. With continued exploration success and project de-risking, De Grey is making itself more attractive.

We believe the project is now at a large enough scale to matter to most mid-tier producers and has major exploration upside that potential acquirers look for.

KL Gold already owns 9.2% and we believe that other cashed up Aussie mid-tier producers are also potential acquirers.

Potential buyers for the Pilbara Gold Project

Valuation

We expect De Grey to progressively re-rate to our fair value estimate of A$0.30/sh.

Our fair value is based on 0.70x our NAVPS estimate of A$0.44. We expect the company to progressively re-rate as it derisks the +100koz/year production scenario, with engineering and additional studies.

As well, we expect that continued exploration success, demonstrating the resource potential of the project to drive the share price higher.

In our view, as the company surfaces its potential (both development and exploration), it should become an attractive takeout target for a mid-tier producer.

Upcoming catalysts: 1) Ongoing development updates, 2) Ongoing exploration results, 3) Updated resource estimate (Q4/19) and 4) New economic study (Q1/20).

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Fri, 08 Mar 2019 08:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216012/de-grey-mining-setting-the-table-for-a-takeout-red-cloud-klondike-strike-216012.html
<![CDATA[News - De Grey Mining Mallina gold results likely to add to 160,700-ounce resource ]]> https://www.proactiveinvestors.com.au/companies/news/215575/de-grey-mining-mallina-gold-results-likely-to-add-to-160700-ounce-resource-215575.html De Grey Mining Limited (ASX:DEG) has received encouraging results from drilling at the Mallina deposit in WA’s Pilbara region which are likely to add to the existing 160,700-ounce resource.

Mallina forms part of the company’s broader Pilbara Gold Project near Port Hedland, which hosts a growing 1.4 million-ounce resource.

A program comprising four diamond tails for 464 metres and 15 reverse circulation (RC) holes for 1673 metres has been completed at Mallina with results extending mineralisation along strike beyond the existing resource.

More results expected

Results for the RC drilling, one of the diamond holes and the pre-collars of the three other diamond holes have been received with more results expected this month.

Best results are:

4.93 metres at 1.23 g/t gold from 106.32 metres, including 1.19 metres at 3.73 g/t from 109.17 metres; 5 metres 2.04 g/t from 81 metres; 6 metres at 1.29 g/t from 70 metres, including 1 metre at 5.66 g/t from 70 metres; 11 metres at 1.05 g/t from 101 metres, including 2 metres at 2.66 g/t from 106 metres; 14 metres at 1.05 g/t from 130 metres; 8 metres at 1.23 g/t from 62 metres, including 2 metres at 3.08 g/t from 65 metres; and 14 metres at 1.59 g/t from 75 metres, including 4 metres at 3.17 g/t from 77 metres.

The RC drilling targeted a number of selected lodes with step out extensions both along strike and down dip.

An intersection of 5 metres at 2.03 g/t was intersected in one hole, which was a 50-metre step out to the west of the current resource in the Mallina Central Zone.

These holes and planned follow-up drilling is expected to add to the current Mallina resource base.

READ: De Grey Mining enhances Pilbara Gold Project’s development study scale to 2Mtpa

An additional two diamond holes drilled for metallurgical purposes have been partially assayed and are undergoing metallurgical test work with final results pending.

SAM survey underway

De Grey has started a 5x1 kilometre detailed Sub-Audio Magnetic (SAM) geophysical survey, which is expected to finish in about  1-2 weeks.

This is designed to provide greater ability to target along strike extensions by providing more confidence in the lateral extents of the controlling mineralised structures and allow for larger drill programs to be designed going forward.

READ: De Grey Mining produces 3.34 g/t gold concentrate from Pilbara trench sample

These larger drill programs are expected to enable larger and more rapid resource extensions to be defined.

Further resource extension drill programs are to be planned based on the results of the SAM survey and the pending diamond core.

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Fri, 01 Mar 2019 12:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215575/de-grey-mining-mallina-gold-results-likely-to-add-to-160700-ounce-resource-215575.html
<![CDATA[Media files - De Grey Mining 'adding to resource base in next 6 months' in the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12381/de-grey-mining--adding-to-resource-base-in-next-6-months--in-the-pilbara-12381.html Thu, 28 Feb 2019 09:23:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12381/de-grey-mining--adding-to-resource-base-in-next-6-months--in-the-pilbara-12381.html <![CDATA[News - De Grey Mining produces 3.34 g/t gold concentrate from Pilbara trench sample ]]> https://www.proactiveinvestors.com.au/companies/news/215460/de-grey-mining-produces-334-gt-gold-concentrate-from-pilbara-trench-sample-215460.html De Grey Mining Limited (ASX:DEG) has continued to uncover conglomerate gold mineralisation during trenching at its Pilbara Gold Project (PGP) near the West Pilbara town of Port Hedland in Western Australia.

The company said continued trenching and bulk sampling at Loudens West area had extended visible gold to a 20-metre strike length in the first trench and over the first 4 metres of the second trench.

READ: De Grey Mining to follow-up encouraging gold results at Farno McMahon JV

Detailing its findings for the first Loudens West trench, De Grey said conglomerate had been exposed along the 20-metre strike and visible coarse gold was seen in the entire trench except for a metre.

A 250-kilogram sample from the trench produced a 1.502 grams gold concentrate.

Average gravity gold concentrates were 3.34 g/t from the first trench.

READ: De Grey Mining enhances Pilbara Gold Project’s development study scale to 2Mtpa

 

The second Loudens West trench was on the same creek line, near a historical prospecting shaft where the company previously found gold nuggets in rock debris.

Four samples have been collected, with results back from coarse-gravity-separated gold greater than 1.2 millimetres and fine fraction results (less than 1.2 millimetres) still pending.

A highlighted 250-kilogram sample produced a 1.083-gram gold concentrate.

Average gravity gold concentrates were 2.36 g/t from the second trench.

Sampling in the second trench will continue before the exploration team moves to Loudens South target area.

READ: De Grey Mining enhances Pilbara Gold Project potential with high gold recoveries

A 250-kilogram sample from Loudens Trench one produced a 1.502-gram gold concentrate

Conglomerate averages in the Loudens West area are a thickness of between 1 and 2 metres.

De Grey reported today: “Overall the results from the Loudens West trial bulk sampling indicate the average coarse gold concentrate is around 3 g/t average."

The company noted the Loudens West mineralisation could be used as feed for a proposed plant for its project but flagged the source was not part of studies underway.

De Grey told the market: “Gold grades recorded to date suggest the conglomerate gold mineralisation could potentially provide an additional source of high-grade feed to the proposed 2 million tonnes per annum plant De Grey is evaluating to treat the conventional shear zone hosted resources at the PGP.”

The Pilbara Gold project area includes conglomerate and structural gold mineralisation.

Gold ounces at the project have now reached 1.4 million ounces, a 40% expansion on the count used in the company’s 2017 study.

The company’s ongoing development study is incorporating the additional ounces to expand its scale to a 2 million tonnes per annum plant throughput.

Gold recoveries have been materially increased to 90-94%.

A simplified processing plant flowsheet has been produced.

A 250-kilogram sample from the second trench produced a 1.083-gram gold concentrate

Pilbara Gold Rush fervour

Gold prospectivity in the Pilbara has been of particular interest in recent weeks, with Independence Group (ASX:IGO), Artemis Resources Ltd (ASX:ARV) (FRA:ATY) (OTCMKTS:ARTTF) and Metalicity Ltd (ASX:MCT) securing East Pilbara ground following a big discovery from Greatland Gold PLC (LON:GGP).

Greatland’s Paterson province drawcard intersection featured 275 metres grading 4.77 g/t gold and 0.61% copper.

Yesterday, fellow copper-gold holder Rio Tinto Limited (ASX:RIO) (LON:RIO) (NYSE:RIO) (OTCMKTS:RTNTF) unveiled positive results from its Winu project in Paterson province.

Rio’s Winu Copper-Gold-Silver Project in the Yeneena Basin is 350 kilometres southeast of Port Hedland.

Best intersections included 104 metres grading 0.8% copper, 0.28 g/t gold and 4.35 g/t silver.

 

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Wed, 27 Feb 2019 19:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215460/de-grey-mining-produces-334-gt-gold-concentrate-from-pilbara-trench-sample-215460.html
<![CDATA[News - De Grey Mining to follow-up encouraging gold results at Farno McMahon JV ]]> https://www.proactiveinvestors.com.au/companies/news/215360/de-grey-mining-to-follow-up-encouraging-gold-results-at-farno-mcmahon-jv-215360.html De Grey Mining Limited (ASX:DEG) is planning further exploration this year at the Farno McMahon Joint Venture in Western Australia’s Pilbara region after receiving encouraging gold results from reconnaissance drilling.

Drilling has defined anomalous gold zones at all three prospects - White Quartz Hill, Clarke and Gillies.

De Grey considers these results encouraging because none of these prospects have been drilled previously.

READ: De Grey Mining enhances Pilbara Gold Project’s development study scale to 2Mtpa

Farno JV is within 20 kilometres south of De Grey’s Withnell gold deposit, which hosts the largest resource within the company’s wider Pilbara Gold Project.

Heading towards initial 30% equity

De Grey is earning up to 75% in the JV by funding exploration and expects to pass the initial 30% equity amount during its 2019 work programs.

Novo Resources Corp (CVE:NVO) recently acquired the holding company, Farno McMahon Pty Ltd, from whom De Grey is earning its JV interest.

The Farno JV covers a large tenement area with strong northeast trending structures and many large geochemical gold anomalies defined by previous exploration.

Limited earlier drilling defined bedrock gold mineralisation, however, most of the anomalies remain untested.

Heritage survey paves way

Before carrying out any ground disturbing drilling, De Grey engaged with the local aboriginal community responsible for the area to undertake a large heritage clearance program.

This survey was completed in September 2018 and paved the way for more substantial drilling programs to be undertaken during late 2018 and ongoing planned programs during 2019.

The drilling includes initial reverse circulation and RAB/aircore drilling programs.

Programs were limited in scope due to rig availability and follow-up work in 2019 is being planned.

De Grey's Pilbara Gold Project.

READ: De Grey Mining enhances Pilbara Gold Project potential with high gold recoveries

At White Quartz Hill a zone of fine quartz veining was intersected with anomalous gold west of the targeted larger quartz vein.

Best results: 11 metres at 0.29 g/t, including 1-metre at 0.93 g/t; 5 metres at 0.53 g/t, including 1-metre at 1.04 g/t; and 10 metres at 0.23 g/t, including 1-metre at 0.74 g/t. These are all from surface.

Clarke prospect quartz veining

A zone of quartz veining up to 10 metres wide was intersected at Clarke prospect with sericite and lesser sulphide alteration.

Results:

3 metres at 0.44 g/t from 32 metres, including 1-metre at 0.83 g/t; 13 metres at 0.27 g/t from 22 metres, including 1-metre at 1.72 g/t; 1 metre at 1.13 g/t from 39 metres; and 2 metres at 0.61 g/t from 38 metres, including 1-metre at 1.04 g/t.

At Gillies anomalous gold zones were intersected in all three lines of reconnaissance geochemical drilling with results of 11 metres at 0.28 g/t from 1-metre, including 1-metre at 0.89 g/t; and 1-metre at 1.19 g/t from 16 metres.

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Wed, 27 Feb 2019 09:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215360/de-grey-mining-to-follow-up-encouraging-gold-results-at-farno-mcmahon-jv-215360.html
<![CDATA[News - De Grey Mining enhances Pilbara Gold Project’s development study scale to 2Mtpa ]]> https://www.proactiveinvestors.com.au/companies/news/215095/de-grey-mining-enhances-pilbara-gold-projects-development-study-scale-to-2mtpa-215095.html De Grey Mining Ltd (ASX:DEG) has decided to expand the scale of its Pilbara Gold Project’s development study to a 2 million tonnes per annum (Mtpa) plant throughput.

The decision to increase scale has arisen as a result of:

• An increase in resources to 1.4 million gold ounces from the previous 1 million gold ounces on which the 2017 scoping study was based;
• Recent exploration results coupled with the ongoing exploration potential of De Grey’s tenements; and
• The recent material increases in gold recoveries to between 90% to 94% and a simplified processing plant flowsheet.

READ: De Grey Mining enhances Pilbara Gold Project potential with high gold recoveries

The decision to increase the development study scale is further supported by improved gold outlook and recent price increases along with the potential for economies of scale with reduced unit operating cost.

The company is also confident in defining new resource additions with the potential for higher grade underground lodes below at least 4 deposits.

De Grey chairman Simon Lill said: “De Grey is an exciting Australian gold growth story with a material and near-term development opportunity in one of the world’s best mining jurisdictions.

“Our vision is very simple; we have our foot on a significant new gold province, two drill rigs on site, aiming to grow resources towards 3 million ounces and ultimately transition De Grey into a new Australian gold producer.”

Optimisations based on new operating and mining costs

GR Engineering Services is nearing completion on design and costing of a proposed 2 Mtpa processing plant.

This work will be completed to PFS standard (+/- 20%) and will form a critical aspect of defining operating costs to be used in further open pit and underground optimisations and evaluations.

Cube Consulting will then undertake revised open pit optimisations based on the new operating and mining costs.

From this work any additional drilling to expand both open pit and underground resources, metallurgy and geotechnical activities and associated timeframes will be determined.

Two drilling rigs operating

To rapidly advance resource extension drilling, two drilling rigs are already operating.

A diamond rig is continuing to target the encouraging underground high-grade lodes and an RC rig is currently targeting the shallower targets beneath the existing Withnell pits.

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Fri, 22 Feb 2019 16:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215095/de-grey-mining-enhances-pilbara-gold-projects-development-study-scale-to-2mtpa-215095.html
<![CDATA[News - De Grey Mining enhances Pilbara Gold Project potential with high gold recoveries ]]> https://www.proactiveinvestors.com.au/companies/news/214400/de-grey-mining-enhances-pilbara-gold-project-potential-with-high-gold-recoveries-214400.html De Grey Mining Ltd (ASX:DEG) has confirmed plus-90% recoveries for different gold mineralisation types from its Pilbara Gold Project in Western Australia.

Detailed metallurgical work has been ongoing since the release of the August 2017 scoping study and has culminated in the breakthrough results achieved at Withnell, the largest resource within the project.

A simplified process flowsheet has been developed and GR Engineering Services is now refining plant design, layout and costings.

READ: De Grey Mining enters option underwriting agreement in capital management measure

De Grey technical director Andy Beckwith said the 90% recovery on the Withnell sulphide mineralisation was an outstanding improvement, making Withnell a fundamental baseload to the project.

The average indicated recoveries for mineralisation types include: plus-94% for oxide material; plus-92% for free-milling fresh material; and plus-90% for the pyrite-dominated sulphide material found at Withnell.

The high gold recoveries were maintained at a coarser grind size, substantially reducing grinding requirements and the likely associated power costs.

 

Simplified processing circuit

READ: De Grey Mining’s drilling confirms high-grade lithium, caesium and tantalum at King Col

Beckwith continued: “We are increasingly more confident that Withnell will also provide a long-term high-grade underground mining opportunity.

“GR Engineering are working on the plant design and costings and from this we will be re-evaluating pit optimisations and the potential to add an underground mining component.

“The simplified processing flowsheet, rapid extraction times and reduced grinding requirements, together with ongoing exploration success, point to a significantly enhanced operation.”

READ: De Grey Mining recovers carse gold and nuggets in first bulk sampling

Other metallurgical results include positive gravity yields, warranting the inclusion of a gravity circuit.

Rock properties indicate low-to-high hardness and moderate abrasion, allowing for a coarser grind size improvement.

Sulphide flotation was found to be effective on all Withnell fresh and transition sulphide mineralisation.

READ: De Grey Mining shares rise on further high-grade hits beneath Withnell gold deposit

Further test work is planned to improve De Grey’s overall knowledge of all the project’s deposits.

This work will include similar detailed comminution, recovery and sulphide flotation test work as required.

Using the newly-defined operating costs and recoveries, the company will evaluate open pit and underground scenarios and an assessment to increase plant scale is planned with mining consultants CUBE.

Additional evaluation of the Withnell underground mining potential is being progressed with remodelling of the resources below the open pit, which will be followed by mine design and costing.

Diamond drilling began at Withnell last month and the 4,000-metre program will continue through the first half of this year to increase the resources at Withnell.

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Mon, 11 Feb 2019 19:53:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214400/de-grey-mining-enhances-pilbara-gold-project-potential-with-high-gold-recoveries-214400.html
<![CDATA[News - De Grey Mining extends settlement date for Indee Gold acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/211628/de-grey-mining-extends-settlement-date-for-indee-gold-acquisition-211628.html De Grey Mining Ltd (ASX:DEG) has formally elected to extend the settlement date for its 100% acquisition of Indee Gold Pty Ltd.

The extension required the payment of $700,000 to Indee Gold owners Northwest Nonferrous Australia Mining Pty Ltd.

READ: De Grey Mining enters option underwriting agreement in capital management measure

Following completion of the remittance, De Grey’s total consideration remaining has been reduced to a $9.7 million in cash and the issue of $3 million of equity in De Grey at a price that is 90% of a 20-day volume weighted average price.

During the December 2018 quarter De Grey raised about $6 million by exercising both listed and unlisted class options after completing the final allotment of shortfall listed options.

READ: De Grey Mining’s drilling confirms high-grade lithium, caesium and tantalum at King Col

De Grey executive chairman Simon Lill said the board was pleased to have further strengthened the company’s cash position through the successful exercise of the options.

He also thanked shareholders for their continued support.

Lill said: “The De Grey board is confident that the Pilbara Gold Project will host a multi-million-ounce resource and set a corporate target of more plus-3 million ounces of resources.

“In addition to making the payment to the Indee vendors, these additional funds will allow the company to continue to pursue both its exploration and operational priorities.”

    READ: De Grey Mining recovers coarse gold and nuggets in first bulk sampling

The acquisition of Chinese-owned Indee Gold will enable De Grey to bring its interest in the Pilbara Gold Project to 100%.

Early last month the gold developer received initial positive results from trial bulk sampling at Loudens Patch within the Pilbara Gold Project.

Additionally, De Grey’s recent drilling program successfully intersected high-grade underground lodes below the Withnell proposed open pit.

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Thu, 20 Dec 2018 23:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211628/de-grey-mining-extends-settlement-date-for-indee-gold-acquisition-211628.html
<![CDATA[News - De Grey Mining executive chairman exercises options worth $188,334 ]]> https://www.proactiveinvestors.com.au/companies/news/209802/de-grey-mining-executive-chairman-exercises-options-worth-188334-209802.html De Grey Mining Limited (ASX:DEG) executive chairman Simon Lill has exercised more than 380,000 listed options and 1.5 million unlisted options.

The options were exercised at a price of 10 cents each and the two tranches together amount to $188,334.

Lill’s total holding now consists of 6,983,333 ordinary fully paid shares, 1 million unlisted options at a 30-cent exercise price and 1.5 million performance rights.

READ: De Grey Mining’s drilling confirms high-grade lithium, caesium and tantalum at King Col

De Grey entered into an underwriting agreement with Taylor Collison Limited earlier this week to underwrite 37.5 million listed options.

Exercised at 10 cents an option the agreement will result in $3.75 million.

De Grey considers the agreement a prudent capital management measure that allows it to lock in and commit to its immediate and planned exploration activities.

De Grey expects to announce the number of shares to be issued as a result of the underwriting on or around December 7, 2018.

READ: De Grey Mining recovers coarse gold and nuggets in first bulk sampling

The company recently acquired Chinese-owned Indee Gold Pty Ltd, enabling it to bring its interest in the Pilbara Gold Project to 100%.

Earlier this month, De Grey received initial positive results from trial bulk sampling at Loudens Patch within the Pilbara Gold Project.

Additionally, De Grey’s recent drilling program successfully intersected high-grade underground lodes below the Withnell proposed open pit.

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Fri, 23 Nov 2018 01:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209802/de-grey-mining-executive-chairman-exercises-options-worth-188334-209802.html
<![CDATA[News - De Grey enters trading halt ahead of option underwriting ]]> https://www.proactiveinvestors.com.au/companies/news/209515/de-grey-enters-trading-halt-ahead-of-option-underwriting-209515.html De Grey Mining Ltd (ASX:DEG) has been granted a trading halt by the ASX this morning pending the release of information regarding the underwriting of listed options in the company.

Shares in the company will remain halted until the earlier of, either the release of relevant information, or the commencement of trading on Thursday 22 November 2018.

READ: De Grey Mining appoints Peter Hood as non-executive director

Earlier this month, De Grey received initial positive results from trial bulk sampling at Loudens Patch within the Pilbara Gold Project in Western Australia.

Additionally, De Grey’s recent drilling program successfully intersected high-grade underground lodes below the Withnell proposed open pit.

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Tue, 20 Nov 2018 13:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209515/de-grey-enters-trading-halt-ahead-of-option-underwriting-209515.html
<![CDATA[News - De Grey Mining enters option underwriting agreement in capital management measure ]]> https://www.proactiveinvestors.com.au/companies/news/209525/de-grey-mining-enters-option-underwriting-agreement-in-capital-management-measure-209525.html De Grey Mining Ltd has entered into an underwriting agreement with Taylor Collison Limited to underwrite 37.5 million listed options.

The options are exercisable at 10 cents an option, resulting in $3.75 million, and expire at the end of this month.

De Grey considers the agreement a prudent capital management measure that allows it to lock in and commit to its immediate and planned exploration and development initiatives.

READ: De Grey Mining recovers coarse gold nuggets in first bulk sampling

Taylor Collison will earn a standard fee for the underwriting, a portion of which will be paid to various sub-underwriters who supported Taylor Collison.

De Grey expects to announce the number of shares to be issued as a result of the underwriting on or around December 7, 2018.

The company recently acquired Chinese-owned Indee Gold Pty Ltd, enabling it to bring its interest in the Pilbara Gold Project to 100%.

Earlier this month, De Grey received initial positive results from trial bulk sampling at Loudens Patch within the Pilbara Gold Project.

Additionally, De Grey’s recent drilling program successfully intersected high-grade underground lodes below the Withnell proposed open pit.

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Tue, 20 Nov 2018 01:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209525/de-grey-mining-enters-option-underwriting-agreement-in-capital-management-measure-209525.html
<![CDATA[News - De Grey Mining appoints Peter Hood as non-executive director ]]> https://www.proactiveinvestors.com.au/companies/news/209417/de-grey-mining-appoints-peter-hood-as-non-executive-director-209417.html De Grey Mining Ltd (ASX:DEG) has appointed Peter Hood as non-executive director effective immediately.

Hood is a chemical engineer and has had a distinguished career in the Australian mining and chemical industries.

He is also a recent past president of the Australian Chamber of Commerce and Industry and the Chamber of Commerce and Industry of Western Australia.

Hood currently holds the following directorships:

Chairman

Matrix Composites and Engineering Ltd (ASX:MCE)
MAK Industrial Water Systems Pty Ltd
Australian National Committee of the International Chamber of Commerce

Non-executive director

GR Engineering Ltd (ASX:GNG)
Cue Energy Resources Ltd (ASX:CUE) - lead independent director

Hood’s wealth of company and board management skills and experiences will be of enormous assistance to De Grey as it pursues a development path for the flagship Pilbara Gold Project.

READ: De Grey Mining recovers coarse gold and nuggets in first bulk sampling

Earlier this month, the company received initial positive results from trial bulk sampling at Loudens Patch within the Pilbara Gold Project.

Additionally, De Grey’s recent drilling program successfully intersected high-grade underground lodes below the Withnell proposed open pit.

READ: De Grey Mining shares rise on further high-grade hits beneath Withnell gold deposit

Follow-up diamond drilling is planned to test the depth extensions of the 800 metres x 400 metres Withnell Underground Exploration Target.

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Mon, 19 Nov 2018 13:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209417/de-grey-mining-appoints-peter-hood-as-non-executive-director-209417.html
<![CDATA[News - De Grey Mining’s drilling confirms high-grade lithium, caesium and tantalum at King Col ]]> https://www.proactiveinvestors.com.au/companies/news/209240/de-grey-minings-drilling-confirms-high-grade-lithium-caesium-and-tantalum-at-king-col-209240.html De Grey Mining Ltd (ASX:DEG) has received positive lithium, caesium and tantalum results from the first two diamond holes drilled at the King Col Pegmatite prospect in Western Australia.

The King Col Pegmatite is 35 kilometres north of Pilbara Minerals’ (ASX:PLS) the world-class Pilgangoora Lithium-Tantalum Mine and 45 kilometres from the Wodgina Lithium Mine.

King Col location plan

The drilling was designed to confirm previous high-grades results and particularly to determine the distribution and percentages of lithium-bearing minerals.

De Grey’s diamond drilling has confirmed the previous results with the new holes returning:

• 11.5 metres at 0.64% lithium oxide from 27 metres; and
• 27.3 metres at 1.14% lithium oxide from 12.7 metres (including 11.9 metres at 2.43% lithium oxide).

King Col drill collar location plan

In addition to lithium, intercepts of anomalous caesium and high-grade tantalum were also returned from the holes, including:

• 0.9 metres at 1.26% caesium oxide from 30.6 metres;
• 1 metre at 1.63% caesium oxide from 21.5 metres;
• 4.3 metres at 675 ppm tantalum pentoxide from 34.2 metres; and
• 5.9 metres at 468 ppm tantalum pentoxide from 21.5 metres.

READ: De Grey Mining shares rise on further high-grade hits beneath Withnell gold deposit

Notably, the presence of spodumene, caesium, petalite, lepidolite, tantalum and pollucite clearly show that the King Col pegmatite system is fertile for lithium-caesium-tantalum (LCT) bearing minerals.

LCT pegmatites are typically zoned in both lateral and vertical orientations and further work is required to better understand this zonation and the potential scale of the LCT pegmatite.

Next steps

Future exploration activities at King Col are planned to include:

• Detailed assessment of mineralogy of the pegmatites including petrology is currently underway, with results expected shortly;
• Hylogger spectral scanning of drill core to determine mineralogy and distribution, to be undertaken by the Western Australia Geological Survey as part of EIS (Exploration Incentive Scheme) funding; and
• Follow-up drilling to extend LCT mineralisation.

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Thu, 15 Nov 2018 13:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209240/de-grey-minings-drilling-confirms-high-grade-lithium-caesium-and-tantalum-at-king-col-209240.html
<![CDATA[News - De Grey Mining recovers coarse gold and nuggets in first bulk sampling ]]> https://www.proactiveinvestors.com.au/companies/news/208961/de-grey-mining-recovers-coarse-gold-and-nuggets-in-first-bulk-sampling-208961.html De Grey Mining Ltd (ASX:DEG) has received initial positive results from trial bulk sampling at Loudens Patch, within the Pilbara Gold Project in the Pilbara region of Western Australia. 

Coarse gold and nuggets in heavy-mineral concentrates have been recovered from the trial processing of 250-kilogram bulk samples of in-situ conglomerate at Loudens West.

Sampling is planned to continue from the trench which has exposed 20 metres of strike along the conglomerate horizon.

READ: De Grey Mining shares rise on further high-grade hits beneath Withnell gold deposit

De Grey’s technical director Andy Beckwith said: “We are extremely pleased with the initial positive gold results together with the simplicity and speed of the sampling, for which we thank geologist in charge, Michael Jackson, who has designed and driven the program from the first nugget discovery.”

To date, six 250-kilogram bulk samples (LB250_001 to 006) have been collected and processed by De Grey from 6 metres of trench at the Loudens West prospect.

The continuity of coarse gold along the conglomerate horizon is encouraging for De Grey.

The successful sampling procedure allows De Grey to progress systematic sampling and quantitative assessment of the Loudens prospect during the December quarter.

Sampling to continue along trench

Sampling is planned to continue along the remaining 6 to 20 metres of the trench.

Additional trenching will continue along the current creek line, southwest and northeast targets at Loudens West and then move to test the Loudens South Target at the southern end of the Loudens Range.

Similar sampling is planned to be implemented at Jarret and Steel Wells prospects.

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Mon, 12 Nov 2018 08:59:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208961/de-grey-mining-recovers-coarse-gold-and-nuggets-in-first-bulk-sampling-208961.html
<![CDATA[News - De Grey Mining shares rise on further high-grade hits beneath Withnell gold deposit ]]> https://www.proactiveinvestors.com.au/companies/news/208459/de-grey-mining-shares-rise-on-further-high-grade-hits-beneath-withnell-gold-deposit-208459.html De Grey Mining Ltd’s (ASX:DEG) drilling program has successfully intersected high-grade underground lodes below the Withnell proposed open pit at its Pilbara Gold Project in Western Australia.

The results from the last six holes of the 15-hole diamond drilling program includes high-grade gold hits further supporting the Withnell Underground potential.

Withnell plan view showing proposed open pit cutback and the four known underground lodes

Additional high-grade gold intersections include:

• Lode 1: 4.65 metres at 7.1 g/t gold from 164.15 metres (including 2.85 metres at 10.39 g/t gold from 165.45 metres);
• Lode 1: 4.13 metres at 10.23 g/t gold from 125.47 metres (including 0.35 metres at 27.7 g/t gold; and
• Lode 2: 8.28 metres at 2.71 g/t gold from 164.2 metres (including 0.8 metres at 11.53 g/t gold from 170.35 metres).

READ: De Grey Mining boosts gold bounty at Pilbara project to almost 1.4 million ounces

The Pilbara Gold Project boasts a large pipeline of attractive exploration targets and the company is actively ramping up exploration throughout the tenement package in a drive to discover new resources and expand the current 1.4 million gold ounces resource.

The underground potential at the two largest gold deposits, namely Withnell and Wingina, is considered high in terms of additional tonnes, grade and resource ounces.

Withnell Underground has an exploration target of 2.6 - 3.5 million tonnes at 4 g/t to 6.5 g/t for 330,000 to 20,000 gold ounces at a depth of between 200 and 600 metres below the current resource of 6.37 million tonnes at 1.8 g/t for 377,300 gold ounces.

READ: De Grey Mining targets 3-million-ounce resource as investors vote for 100% project ownership

Follow-up diamond drilling is currently being planned to test the depth extensions of the 800 metres x 400 metres Withnell Underground Exploration Target.

The aim of the drilling will be to initially undertake wide-spaced 100-200 metres spaced step out drilling to define the limits of the gold mineralisation associated with Lode 1 through to Lode 4.

Subsequent infill drilling to 50-80 metres spacing will be subject to further positive results and will aim to better define higher grade shoots within the broader mineralisation.

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Mon, 05 Nov 2018 12:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208459/de-grey-mining-shares-rise-on-further-high-grade-hits-beneath-withnell-gold-deposit-208459.html
<![CDATA[News - De Grey Mining hits 56-metre intersection at 3.04 g/t gold at Pilbara project ]]> https://www.proactiveinvestors.com.au/companies/news/207022/de-grey-mining-hits-56-metre-intersection-at-304-gt-gold-at-pilbara-project-207022.html De Grey Mining Limited (ASX:DEG) has received one of the best intersections to date from its Pilbara Gold Project in WA which indicates strong potential to add to the 1.4 million ounce gold resource.

The 56-metre intersection at 3.04 g/t gold from 14 metres at the Mallina deposit included 30 metres at 5.29 g/t.

Recent drilling has also returned high-grade results from the Toweranna deposit’s Western and Southern zones.

READ: De Grey Mining boosts gold bounty at Pilbara project to almost 1.4 million ounces

De Grey exploration manager Phil Tornatora said Mallina had provided one of the best intersections seen across the project area.

“A wide zone of intense alteration and sulphide development with 56 metres of mineralisation demonstrates the large scale of this system,” he said.

“The recent resource upgrade at Mallina is all above 100 metres, 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.”

READ: De Grey Mining targets 3-million-ounce resource as investors vote for 100% project ownership

Only about 10% of the shear zones across the 200-kilometre-plus strike length throughout the large 1,480 square kilometre landholding has been tested.

The Pilbara Gold Project with Mallina and Toweranna highlighted.

Detailed shallow reverse circulation (RC) and diamond drilling to a nominal depth of 100 to 150 metres have resulted in the definition of a 1.4 million ounce resource.

As well as returning the 56-metre intersection, drilling at Mallina also showed ongoing mineralisation at 90-metre depth with further potential to add to the 160,700-ounce resource.

Three holes completed at Mallina

Three diamond drill holes were recently completed to provide additional geological and structural information, in addition to drill core for metallurgical test work.

Test work on the two holes drilled for metallurgical purposes is underway as part of the open pit pre-feasibility study while results have been finalised for the other hole.

This was a diamond tail to a previous RC hole which ended in significant mineralisation.

Mineralisation continues in diamond tail

The mineralised zone continued in the diamond tail, which returned the 56-metre result.

This hole intersected a felsic porphyry around 20 metres below the 56-metre mineralised zone which also shows mineralisation at the hanging wall and footwall contacts, including 8.25 metres at 1.05 g/t.

Mallina Central section results.

Follow-up drilling to test this significant zone of mineralisation will be carried out shortly.

A Sub-Audio Magnetic (SAM) ground geophysical survey is also planned, subject to review of a recently completed SAM survey at the Mt Berghaus deposit.

High-grade results at Toweranna

At Toweranna, nine diamond tails were drilled to extend selected RC holes targeting the Western and Southern zones.

Results have confirmed mineralisation along these zones and provided important structural information used to updated and refine the geological model, in addition to intersecting significant mineralisation.

Best Western Zone results are:

- 17.3 metres at 3.91 g/t from 50 metres; - 10.2 metres at 2.52 g/t from 144.8 metres, including 0.3 metres at 34.1 g/t from 144.8 metres; - 3.0 metres at 6.23 g/t from 101.8 metres, including 0.3 metres at 44.1 g/t from 104.5 metres; and - 3.97 metres at 24.45 g/t from 172.3 metres, including 2.5 metres at 37.33 g/t from 172.3 metres.

At Southern Zone, best results are:

- 1.4 metres at 9.79 g/t from 100 metres; - 4.1 metres at 5.77 g/t from 67.6 metres, including 1 metre at 23.14 g/t from 70.7 metres; and - 6.8 metres at 4.72 g/t from 55.7 metres, including 0.5 metres at 58.6 g/t from 57.9 metres.

A drilling plan for Toweranna showing new drill intersections.

The high-grade gold tenor of the individual veins and increased overall resource ounces are expected to boost the shallow open pit mining potential of the deposit, which hosts 143,900 ounces.

Follow-up drilling programs are being planned targeting extensions to the resource on the Eastern and Northern granite contacts, in addition to depth extensions.

READ: De Grey Mining finds high-grade gold lodes beneath Withnell open pit

De Grey is ramping up exploration throughout the Pilbara project in a drive to upgrade and expand known resources, as well as discover new deposits.

There are more than 40 identified yet untested soil anomalies along the highly prospective regional scale shear zones and conglomerates.

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Mon, 15 Oct 2018 09:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207022/de-grey-mining-hits-56-metre-intersection-at-304-gt-gold-at-pilbara-project-207022.html
<![CDATA[News - De Grey Mining targets 3-million-ounce resource as investors vote for 100% project ownership ]]> https://www.proactiveinvestors.com.au/companies/news/206449/de-grey-mining-targets-3-million-ounce-resource-as-investors-vote-for-100-project-ownership-206449.html De Grey Mining Limited (ASX:DEG) shareholders have backed the company’s acquisition of Chinese company Indee Gold Pty Ltd giving the Western Australian company the all-clear to take its stake in the flagship Pilbara Gold Project to 100%.

The result is a boost for the company as it focuses on a newly-unveiled target of defining a 3-million-ounce resource.

READ: De Grey Mining boosts gold bounty at Pilbara project to almost 1.4 million ounces

De Grey executive chairman Simon Lill told Proactive Investors yesterday afternoon the company’s shareholders had given their approved for the company to complete the Indee acquisition in a not unexpected endorsement.

Chairman Lill said: “We recognised the value in that ground – and shareholders – so the shareholder hands at the meeting were very much in favour of it.”

The majority of investors in the Subiaco company put their hands up to 11 resolutions yesterday.

Among these were a change in the Pilbara-focused company’s scale of operations, the buy-up of all of Indee’s shares and the swallow-up of the Indee Gold Project.

Lill highlighted most of the 15% increase to the company’s Pilbara project structural gold resources this week to 1.4 million ounces had come from the Indee ground.

He emphasized the acquisition’s other strengths, such as its mining licence, mine camp, water bore licences, haul roads and other good infrastructure.

Lill said: “We’re pretty happy with the acquisition price that will continue to look better as we continue to work on that ground.”

Settlement process

That settlement process is currently approved to take place in the next three months, with De Grey reporting today that ASX Ltd (ASX:ASX) had declined its application for a waiver that would allow it to delay the issue of shares valued at $3 million to seller Northwest Nonferrous Australia Mining Pty Ltd.

The price of the shares was to be divided by 90% of a volume-weighted price.

If De Grey decides it wants to delay an issue of shares to the seller past the next three months, it can present a resolution at another meeting.

Chairman Lill said:  “We have the option with the Indee acquisition to defer settlement by another 6 months and we are looking through all our options at the moment as to how we settle the option for the Indee agreement anyway, so it’s possible we have to go back to shareholders at some stage.”

The chairman indicated the company could hold another vote in April or mid-May if it was working towards a July 27, 2019 delayed settlement deadline.

 

Indee gold

Indee brings 746,200 ounces to the Pilbara Gold Project which became 1.4 million structural gold ounces earlier this week with a resource update that added 15% to project resources.

Lill said: “Our resources overall have increased to 1.4 million ounces, that were previously just over 1.2, most of those increases are on the Indee land in part that’s because that’s where most of our drilling had been but also in part that’s where we had specifically been targeting some increases.

“We’ve come up, with the resource upgrade, that the acquisition of Indee is now at $17 an ounce and that price will continue to reduce, as we find more resources.”

READ: De Grey Mining excavating conglomerate gold horizon in Pilbara Gold Rush territory

 

De Grey's Pilbara Gold Project land tenure.

Indee gold

Indee brings 746,200 ounces to the Pilbara Gold Project which became 1.4 million structural gold ounces earlier this week with a resource update that added 15% to project resources.

Lill said: “Our resources overall have increased to 1.4 million ounces, that were previously just over 1.2, most of those increases are on the Indee land in part that’s because that’s where most of our drilling had been but also in part that’s where we had specifically been targeting some increases.

“We’ve come up, with the resource upgrade, that the acquisition of Indee is now at $17 an ounce and that price will continue to reduce, as we find more resources.”

READ: De Grey Mining excavating conglomerate gold horizon in Pilbara Gold Rush territory

De Grey’s updated Pilbara estimate shared on Wednesday includes all drilling up to the end of July 2018 and incorporates 11.02 million tonnes at 1.5 g/t for 529,900 ounces in oxide mineralisation and 16.23 million tonnes at 1.7 g/t in fresh material.

Indee features 385 square kilometres of what De Grey views as prospective tenure, a 20-man expandable camp and the Loudens Patch, Steel Well and Jarret Well conglomerate gold targets.

 

Next steps — a PFS and ambitious drilling target

This week De Grey has been updating investors on its next steps — sharing a presentation delivered by executive chairman Simon Lill at the Precious Metals Investment Symposium in Perth late yesterday and to be shared on the road by technical director, geologist Andrew Beckwith, who is undertaking a North American roadshow.

Beckwith said in July: “The more drilling we do, the more gold we find.”

Lill confirmed yesterday the company was working on its pre-feasibility study which it believed it would be useful, telling Proactive Investors that unlike other PFS-producers, the company did not plan to move straight on to a definitive feasibility study.

De Grey it is focused instead on a key corporate goal Lill and the company unveiled yesterday in a presentation, to define more than 3 million ounces at the project.

Lill said: “We will look forward to the outcomes.”

READ: De Grey Mining finds high-grade gold lodes beneath Withnell open pit

The company’s key message with its presentation is it strongly believes the Pilbara project has the potential to host multi-million-ounces of resource and it was ensuring “growth through discovery”.

Lill said: “We’re working out what we do have and how big this thing could be.

“We are now talking scale — 1.4 million ounces is a nice figure, 3 million ounces, that’s also a nice figure. Let’s have a look and say when we get to 3 million ounces let’s ask ourselves, ‘Is this going to 5 (million ounces) and beyond?’ So that’s going to be the excitement over the next 2 years for us.”

The company expects to go deeper with its drilling and define more resources, with two drilling programs underway.

Lill said: We are seeing grades increase as we go deeper.

“There is a huge opportunity to add ounces.”

De Grey hopes to model building a standalone gold-mining centre in its PFS and take production to 10 kilo-ounces a year during a 7-year-or-longer mine life.

The company reported on Thursday it was making a significant rate of return on investment and had sufficient cashflow to take it through to production.

Major shareholder back ounce-building

The company’s existing shareholder base includes supportive major shareholder Kirkland Lake Gold Ltd (ASX:KLA) (TSE:KL) (NYSE:KL) (FRA:NGDA) which held 9.2% and neighbour DGO Gold Limited, which had 6.9% in a stake controlled by explorer and company investor Eduard Eshuys.

Lill acknowledged yesterday: “We have two significant shareholders, DGO Gold (and) Kirkland Lake, Kirkland Lake is a very large company with a growing balance sheet, both of them are invested very much so in our shear zone.”

Two months ago, explorer Eshuys told I his company viewed De Grey prospectivity as having “enormous potential”.

Eshuys said: “We think that on the De Grey land we should be able to find gold at something like $10 an ounce.”

DGO’s estimate of De Grey’s cost of finding resources is $15 less an ounce than the $25 average costs estimated in a recent industry review and $2 an ounce cheaper than the current estimate of the Indee pick-up.

De Grey’s chairman said both the company’s significant shareholders supported growing resources over pursuing near-term production opportunities.

Lill said: “They want to see us developing, drilling, working out what we do have and what this thing could be.”

De Grey’s open-pit pre-feasibility study for the northwest project is expected to outline near-term mining options and is expected in the new year.

Lill said the company had seen how the market responded to junior companies wanting to jump into production.

Chairman Lill said: “We have talked about getting into production as quickly as we can (but) I think what we’re looking at in the stock market arena though is the production profile of juniors, the ASX is not rewarding them for saying they’re going to go into production — they’re penalising them.

“I think we’re better off going the route that we are, looking at the scale, having a really good look at it and that’s where our two major shareholders wish us to go as well.

“We’ve got their support, so it’s great.”

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Fri, 05 Oct 2018 15:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206449/de-grey-mining-targets-3-million-ounce-resource-as-investors-vote-for-100-project-ownership-206449.html
<![CDATA[News - De Grey Mining boosts gold bounty at Pilbara project to almost 1.4 million ounces ]]> https://www.proactiveinvestors.com.au/companies/news/206241/de-grey-mining-boosts-gold-bounty-at-pilbara-project-to-almost-14-million-ounces-206241.html De Grey Mining Limited (ASX:DEG) has boosted its golden bounty at the Pilbara Gold Project in WA by 15%, or 183,800 ounces, to almost 1.4 million ounces.

Importantly, the new estimate of 27.25 million tonnes at 1.6 g/t gold includes a 44% increase in indicated resources to 491,800 ounces and the combined measured and indicated resource is up 25% to 739,200 ounces.

This will provide for the higher conversion of mineral resource to open pit ore reserves as part of the Open Pit Pre-Feasibility Study (PFS) which is underway.

READ: De Grey Mining excavating conglomerate gold horizon in Pilbara Gold Rush territory

This increase also indicates that a more significant mine life may be defined in the PFS, than previously reported in the 2017 scoping study.

The majority of the new resources, including increases in the measured and indicated categories, fall within the top 100 metres from surface.

There are 391,000 more shallow ounces than in the scoping study and these will be evaluated in the PFS.

De Grey is confident of adding further resources from the known deposits, which remain open, and the numerous untested regional targets.

New drilling underway

In this regard, a new reverse circulation (RC) drilling program is underway at the Farno McMahon joint venture tenement.

Around 900 metres will be drilled at White Quartz Hill prospect targeting large outcropping quartz veins associated with historical prospector activity over a strike length of around 200 metres.

This prospect is only 9 kilometres southeast of the Withnell trend.

Prospects on the Farno McMahon joint venture close to the Withnell trend.

At the Clarke prospect around 700 metres will then be drilled targeting high-grade gold rock samples from outcropping quartz veins over a strike length of around 150 metres.

Both drilling programs are expected to be completed this month with De Grey also planning geological mapping of various prospects.

De Grey has a four-year option to earn 75% of the E47/2502 tenement from Farno McMahon Pty Ltd.

READ: De Grey Mining finds high-grade gold lodes beneath Withnell open pit

The updated Pilbara estimate, which includes all drilling up to the end of July 2018, incorporates 11.02 million tonnes at 1.5 g/t for 529,900 ounces in oxide mineralisation and 16.23 million tonnes at 1.7 g/t in fresh material.

Prospects in De Grey's Pilbara Gold Project, southeast of Port Hedland.

The focus of recent drilling has been on increasing the geological confidence and continuity of mineralisation within the scoping study pit optimisation shells and immediate along strike extensions.

De Grey said the drilling programs had been highly successful in these regards.

READ: De Grey Mining expects upgrade to 1.2 million ounce resource at Pilbara Gold Project

The shallow nature of the resources is an underlying theme of all drilling across the Pilbara project.

All deposits discovered to date show gold mineralisation from surface and constrained by drilling.

They remain open along strike and at depth beyond the current limits of drilling.

In all circumstances, except for Withnell and Wingina, the deposits have rarely been targeted beyond 100 metres depth.

Deeper drilling will form an integral component of future drilling campaigns as will further drilling along strike.

De Grey strongly believes the project has the potential to host multi-million-ounce resources.

De Grey will hold a general meeting this Friday at 11am local time at Perth’s QV1 Conference Centre at 250 St Georges Terrace.

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Wed, 03 Oct 2018 10:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206241/de-grey-mining-boosts-gold-bounty-at-pilbara-project-to-almost-14-million-ounces-206241.html
<![CDATA[News - De Grey Mining excavating conglomerate gold horizon in Pilbara Gold Rush territory ]]> https://www.proactiveinvestors.com.au/companies/news/206074/de-grey-mining-excavating-conglomerate-gold-horizon-in-pilbara-gold-rush-territory-206074.html De Grey Mining Ltd (ASX:DEG) will begin testing what could be more conglomerate gold nuggets from its Pilbara Gold Project 80 kilometres southwest of Port Hedland.

The company, whose 1.2 million ounce Pilbara project resource is made up of structural gold, has started trenching with an excavator to expose a conglomerate horizon at Loudens Patch.

 

READ: De Grey Mining finds high-grade gold lodes beneath Withnell open pit

Earlier today the company reported it had found high-grade structural gold beneath a planned open pit at Withnell on the project.

This afternoon the company said its trenching and bulk-sampling program at Loudens Patch would focus on the Louden West area.

More than 200 gold nuggets were discovered in the area with metal detectors, with De Grey saying today the nuggets were “associated with limited conglomerate outcrops and historic alluvial workings.”

READ: De Grey Mining partner snapped up by deal-hungry Novo Resources

Loudens South is the company’s next conglomerate horizon target before it moves on to fellow Pilbara Gold prospects Jarret Well and Steel Well.

De Grey has found thicker conglomerate units at the two well prospects.

Earlier this year, in March, the company reported it had found widespread visible gold and nuggets at its project.

The Pilbara region has enjoyed a renaissance gold rush since watermelon seed-style conglomerate gold nuggets were found in the region by prospectors.

READ: De Grey Mining hits high-grade gold at Mt Berghaus, likely to add to Pilbara bounty

Canadian giant Novo Resources (TSX-V:NVO) (CVE:NVO) (FRA:1NO) (OTCMKTS:NSRPF) jumped at the conglomerate gold opportunity and snapped up land rights, holding onto conglomerate booties Comet Well and Purdy’s Reward.

The high-profile Canadian began accumulating holdings in the Pilbara region in 2011 with its investment in the Beatons Creek Gold Project and tenements held by explorationist Mark Creasy.

Last week Novo announced it would snap up De Grey Mining Limited’s joint venture partner in the Pilbara’s Egina district for $8 million, in a cash-and-scrip deal with Farno McMahon Pty Ltd and its shareholders.

De Grey was a 4% shareholder in Farno and accepted Novo’s cash and scrip offer, to bank $100,000 cash and secure $220,000 of Novo shares at C$4.107 each.

Novo’s shareholders also include Kirkland Lake Gold Ltd (ASX:KLA) (TSE:KL) (NYSE:KL) (FRA:NGDA), Newmont Mining Corp (NYSE:NEM) (SWX:NEM) (ETR:NMM) (VIE:NEWM) and Canadian businessman Eric Sprott.

Novo Resources Corp is also farming into a 70% interest in the four tenements that make up Pioneer Resources Ltd’s (ASX:PIO) Kangan Gold Project in Engina district.

READ: Pioneer Resources outlines Pilbara gold strategy

De Grey shareholders will vote on 11 resolutions at its shareholder meeting this week, wading in on whether to back the company’s proposed acquisition of Indee Gold Pty Ltd from Northwest Nonferrous Australia Mining Pty Ltd and change De Grey’s scale of operation.

Earlier this year, De Grey agreed to buy up all of Indee’s shares and needs shareholder backing of the transaction.

If approved, the company will need to serve up $10.4 million cash and $3 million De Grey shares if investors back its share-issue.

De Grey will hold a general meeting this Friday at 11am local time at Perth’s QV1 Conference Centre at 250 St Georges Terrace.

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Mon, 01 Oct 2018 04:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206074/de-grey-mining-excavating-conglomerate-gold-horizon-in-pilbara-gold-rush-territory-206074.html
<![CDATA[News - De Grey Mining finds high-grade gold lodes beneath Withnell open pit ]]> https://www.proactiveinvestors.com.au/companies/news/206034/de-grey-mining-finds-high-grade-gold-lodes-beneath-withnell-open-pit-206034.html De Grey Mining Ltd (ASX:DEG) has confirmed two high-grade gold lodes immediately beneath the proposed Withnell open pit at its Pilbara Gold Project in Western Australia.

The lodes were intersected in a 15-hole diamond drilling program which aimed to infill and confirm continuity, grade distribution and geological definition of each lode.

A 2017 open-pit mining scoping study at Withnell outlined the potential to extend the previously mined 45-metre open pit to a new depth of around 120 metres.

A further two lodes have been identified in the area and provide further resource potential, but these have not yet been tested.

 

Highlighted results from the first lode include: 4.85 metres at 8.46 g/t from 158.15 metres, including 0.35 metres at 70.4 g/t from 159.2 metres; 5.6 metres at 5.24 g/t from 166.3 metres, including 0.95 metres at 21.3 g/t from 170.2 metres; and 1.4 metres at 20.05 g/t from 228.7 metres.

The second lode delivered assays of 3.8 metres at 6.85 g/t from 151.7 metres and 7.97 metres at 7.48 g/t from 137.03 metres, including 2.5 metres at 14.52 g/t from 138.5 metres.

The results indicate a large gold system with multiple high-grade stacked lodes, open at depth and along strike, beneath the 377,300-ounce Withnell resource.

READ: De Grey Mining partner snapped up by deal-hungry Novo Resources

De Grey technical director Andy Beckwith said: “Our focus going forward will be to continue step-out drilling to define the limits of the high-grade lodes both down-dip and along strike.

“The potential to materially increase resources and improve economics to include high-grade underground mining is compelling.”

The results have successfully confirmed:

Lode definition, geology and continuity along-strike and dip;

High-grade nature of mineralisation;

Stacked nature of lodes and potential for additional splays off the main lodes;

High strike rate of intersecting both lodes 1 and 2, along-strike and down-dip;

Previous drill intersections, both low and high-grade, which provides confidence in the deeper wide-spaced drill results; and

Potential for higher grade shoots within the broad mineralised system.

Withnell plan showing proposed open pit cutback and the 4 known underground lodes

  READ: De Grey Mining hits high-grade gold at Mt Berghaus, likely to add to Pilbara bounty

The economic impact of a high-grade underground mine being added to the proposed open pit mining strategy is substantial in terms of potential to increase revenues, mine life and annualised production rates.

De Grey’s Pilbara project has strong potential to define additional resources along its plus-200-kilometre strike length of mineralised shear zones.

Only 10% of the shear zones have undergone detailed shallow reverse circulation (RC) and diamond drilling to a nominal depth of 100-150 metres, which has already defined mineral resources containing over 1.2 million ounces of gold.

Follow-up diamond drilling is expected to test Withnell’s depth extensions and define the limits of the gold mineralisation associated with the discovered lodes.

Subsequent infill drilling, subject to positive results, will aim to better define higher-grade shoots within the broader mineralisation.

De Grey will hold a general meeting this Friday at 11am local time at Perth’s QV1 Conference Centre at 250 St Georges Terrace.

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Sun, 30 Sep 2018 21:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206034/de-grey-mining-finds-high-grade-gold-lodes-beneath-withnell-open-pit-206034.html
<![CDATA[News - De Grey Mining partner snapped up by deal-hungry Novo Resources ]]> https://www.proactiveinvestors.com.au/companies/news/205077/de-grey-mining-partner-snapped-up-by-deal-hungry-novo-resources-205077.html Novo Resources Corp of Canada (TSX-V:NVO) (CVE:NVO) (FRA:1NO) (OTCMKTS:NSRPF) will snap up De Grey Mining Limited’s (ASX:DEG) joint venture partner in the Egina district of Western Australia’s Pilbara region for $8 million, in a cash-and-scrip deal with Farno McMahon Pty Ltd and its shareholders.

The deal, if executed after a due diligence period, will leave De Grey with a new joint venture partner for its E47/2502 tenement farm-in project.

READ: De Grey Mining hits high-grade gold at Mt Berghaus, likely to add to Pilbara bounty

De Grey was a 4% shareholder in Farno and has accepted Novo’s cash and scrip offer, which is worth a total $100,000 cash to De Grey and brings with it $220,000 of Novo shares priced at C$4.107 each.

The total cash payment for Novo’s buy-up is $2.5 million, including a $150,000 initial amount already paid, and $5.5 million in Toronto Stock Exchange-listed Novo common shares.

De Grey’s JV with Farno, announced on August 21 last year, allows it to earn into 75% of the tenement by spending $4 million over 4 years.

READ: De Grey Mining expects upgrade to 1.2 million ounce resource at Pilbara Gold Project

The tenement is one of four Farno holds 100% of in the Egina district of Western Australia’s Pilbara region which Novo considers prospective for conglomerate gold.

Farm-in play De Grey reported today: “De Grey is currently undertaking heritage clearance work as part of the final planning towards commencement of the first significant reverse circulation drilling program across the tenement since 2005, which it expects to commence in October.”

De Grey is near on a year into the deal.\

De Grey gold mineralisation.

Novo highlights value in Egina

Novo Resources chairman and president Quinton Hennigh told the Canadian market overnight yesterday: “Egina has long been known as an important Pilbara gold district.

“Gold nuggets have been found in modern surface gravels over a vast area around Egina since the late 1800s.

“Upon researching the distribution and nature of gold nuggets earlier this year, Novo has concluded these are largely derived from weathering and erosion of basal Fortescue conglomerates similar to those at Comet Well and Purdy’s Reward.

“This makes Egina particularly intriguing.”

Comet Well and Purdy’s Reward are Novo assets in so-called Pilbara Gold Rush territory.

Hennigh said: “In our view, not only is there potential for the discovery of gold-bearing conglomerates, there is also very good potential for significant surface gold deposits occurring in modern lag gravels.

“Acquisition of the core tenements at Egina consolidates Novo’s position in this potentially very important gold district.”

De Grey's Mt Roe Basalt in the vicinity of Novo ground is prospective for conglomerate gold.

Pioneer farm-in

Novo also announced a deal with Pioneer Resources Ltd (ASX:PIO) where it would farm into a 70% interest in precious metal rights on the four Egina subregion exploration tenements that make up the Kangan Gold Project.

Novo will pay a $200,000 signing fee to Pioneer, issue 100,000 fully paid Novo shares worth about $380,000 and sole-fund exploration for 2 years to the tune of $500,000.

The Canadian company may then opt to form a JV and would fund it up to a decision to mine.

READ: Pioneer Resources confirms A-grade potassium feldspar at Sinclair caesium mine

TSX-listed Novo would also subscribe to $1 million of Pioneer ordinary shares as part of the transaction, at 2 cents a share in a private placement.

Pioneer managing director David Crook said: “Attracting Novo to the project endorses the quality of the Kangan Gold Project.

“Novo has steadily increased its position within the Pilbara as the conglomerate gold genesis model gained veracity and, most recently, has entered into this specific agreement with Pioneer targeting the Kangan project as a good fit with the prevailing exploration model.”

READ: Pioneer Resources gains approval for mining proposal at Sinclair Caesium Deposit

Novo begun accumulating holdings in the Pilbara region in 2011 with its investment in the Beatons Creek Gold Project and tenements held by explorationist Mark Creasy.

Creasy is among Novo’s major shareholders which also include Kirkland Lake Gold Ltd (ASX:KLA) (TSE:KL) (NYSE:KL) (FRA:NGDA), Newmont Mining Corp (NYSE:NEM) (SWX:NEM) (ETR:NMM) (VIE:NEWM) and Canadian businessman Eric Sprott.

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Mon, 17 Sep 2018 23:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205077/de-grey-mining-partner-snapped-up-by-deal-hungry-novo-resources-205077.html
<![CDATA[News - De Grey Mining hits high-grade gold at Mt Berghaus, likely to add to Pilbara bounty ]]> https://www.proactiveinvestors.com.au/companies/news/204479/de-grey-mining-hits-high-grade-gold-at-mt-berghaus-likely-to-add-to-pilbara-bounty-204479.html De Grey Mining Limited (ASX:DEG) has received further strong gold hits from drilling at the Mt Berghaus deposit of its Pilbara Gold Project in WA that are expected to increase overall resources.

The infill drilling has provided further evidence of shallow gold mineralisation which is expected to improve open pit mining shells which are being formulated as part of a pre-feasibility study (PFS).

READ: De Grey Mining expects upgrade to 1.2 million ounce resource at Pilbara Gold Project

Best results from the Main Lode are 26 metres at 3.45 g/t gold from 3 metres, including 3 metres at 24.37 g/t from 3 metres; and 17 metres at 3.25 g/t from 28 metres, including 4 metres at 7.92 g/t from 33 metres.

North Lode best results are 13 metres at 3.49 g/t from 16 metres, including 4 metres at 10.35 g/t from 21 metres; and 11 metres at 4.92 g/t from 22 metres, including 2 metres at 24.07 g/t from 27 metres.

 

De Grey’s technical director Andy Beckwith said, “Infill drilling at Mt Berghaus has confirmed significant shallow gold mineralisation which we expect will increase overall resources and positively impact open pit mining optimisation studies as we progress the PFS.”

In March, the company began an infill and extensional reverse circulation (RC) drilling program, targeting improved and additional resources at Mt Berghaus, Mallina, Toweranna and Amanda deposits.

Updated resource model expected

The latest results from 76 holes for 5,155 metres at Mt Berghaus will be included in the updated 2018 resource model.

This RC drilling has focused on infilling existing resource areas to improve the geological understanding and continuity of mineralisation to allow for improved modelling and resource categories.

A regional plan showing the 5-kilometre-long Mt Berghaus gold system.

It has also been seeking additional extensions beyond the current resources and 2017 scoping study open pit shells.

READ: De Grey Mining updates on Indee Gold acquisition

Other strong Main Lode results are:

- 18 metres at 2.48 g/t from 0 metres; - 24 metres at 2.05 g/t from 21 metres, including 4 metres at 6.24 g/t from 40 metres; - 23 metres at 2.2 g/t from 2 metres, including 6 metres at 5.22 g/t from 12 metres; - 17 metres at 2.08 g/t from 42 metres, including 9 metres at 3.5 g/t from 42 metres; - 8 metres at 5.92 g/t from 49 metres, including 2 metres at 21.81 g/t from 49 metres; and - 2 metres at 12.83 g/t from 61 metres.

The North Lode also returned:

- 21 metres at 2.22 g/t from 26 metres, including 3 metres at 8.45 g/t from 44 metres; and - 9 metres at 2.62 g/t from 55 metres.

Visible gold in core from the Pilbara Gold Project.

These results continue to reinforce shallow and robust drilling intersections along the 1.2-kilometre mineralised trend, which remains open and generally untested along large portions of the 5-kilometre long anomaly.

140,800 ounce Mt Berghaus resource

The Mt Berghaus resource stands at 3.52 million tonnes at 1.2 g/t for 140,800 ounces and the latest drilling results provide further expectation of improved resource categories and resource ounces.

Once a new resource model has been completed, open pit mining optimisations will be undertaken as part of the wider Pilbara Gold - Open Pit Mining Pre-Feasibility Study.

A program of short diamond tails is planned to begin shortly planned to extend existing RC holes to gain further geological information.

Follow-up drilling

This will be used to plan follow-up drilling, which is likely to include targeting shallow lateral extensions and deeper higher grade underground style mineralisation.

De Grey plans to carry out a trial Sub-Audio Magnetic (SAM) geophysical survey over the Mt Berghaus anomaly, targeting greater definition of the gold hosting structures.

Successful definition of the controlling gold structures would allow for targeted RC and/or aircore drill testing in the search for additional shallow resources.

Planning of this survey is underway and is expected to be completed during October, subject to contractor availability.

READ: De Grey Mining’s drilling intersects multiple conglomerate beds at Steel Well

The Pilbara Gold Project has excellent potential to define significant additional resource ounces along its 200 kilometre-plus strike length of mineralised shears zones throughout the 1,500 square kilometre land holding.

To date, around 10% of the shear zones have received detailed shallow RC and diamond drilling to a nominal depth of 100-150 metres.

This has already defined mineral resources containing more than 1.2 million ounces of gold.

A resource update is underway and is expected to be reported in late September/early October of 2018.

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Mon, 10 Sep 2018 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204479/de-grey-mining-hits-high-grade-gold-at-mt-berghaus-likely-to-add-to-pilbara-bounty-204479.html
<![CDATA[News - De Grey Mining updates on Indee Gold acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/204286/de-grey-mining-updates-on-indee-gold-acquisition-204286.html De Grey Mining Ltd (ASX:DEG) will put two resolutions to shareholders at an upcoming meeting related to the acquisition of Indee Gold Pty Ltd.

In February 2018, De Grey agreed to purchase 100% of the shares in Indee, and in accordance with the ASX rules, must obtain necessary shareholder approvals.

To date, total consideration remaining to settle includes $10.4 million cash and $3 million in De Grey shares, the latter which requires shareholder approval.

READ: De Grey Mining expects upgrade to 1.2 million ounce resource at Pilbara Gold Project

Throughout the first half year of 2018, De Grey has been aggressively drilling across many of the gold deposits to improve and increase resources at the Pilbara Gold Project in Western Australia.

Resource update coming soon

The resource models are currently being updated based on drilling completed to the end of July 2018.

The 2018 resource update report is anticipated in late September/early October and the updated resources will be used as the basis for new open-pit mining optimisations.

Pre-feasibility studies well advanced

Detailed pre-feasibility study activities are well advanced with a major focus on metallurgy and plant design.

The metallurgy test work is nearing completion and GR Engineering have commenced defining a suitable processing flow sheet, prior to design and costing.

Deeper drilling results expected this month

Additional deeper diamond drilling has been completed at both the largest Withnell and Wingina gold deposits, targeting higher grade underground resource definition and extensions.

Initial results of this drilling are expected to be reported during September.

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Thu, 06 Sep 2018 08:58:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204286/de-grey-mining-updates-on-indee-gold-acquisition-204286.html
<![CDATA[News - De Grey Mining expects upgrade to 1.2 million ounce resource at Pilbara Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/203654/de-grey-mining-expects-upgrade-to-12-million-ounce-resource-at-pilbara-gold-project-203654.html De Grey Mining Limited (ASX:DEG) is completing a pre-feasibility study for its structural gold project in the Pilbara region of WA, whilst continuing to drill to add to its existing 1.2 million ounce resource.

The company’s lead project is titled the Pilbara Gold Project, and its name reflects its location in prime Pilbara Gold Rush country.

Conglomerates in the mix

The project is east of Novo Resources Corp’s (CVE:NVO) (FRA:1NO) (OTCMKTS:NSRPF) land tenure and contains its own watermelon-seed-style coarse-grained gold similar to what the Canadian company found near Karratha in Western Australia’s northwest.

De Grey executive chairman Simon Lill spoke to Proactive Investors and emphasised the company’s point of difference to other players in the region — it has the “X-factor” of conglomerate gold but also traditional structural shear-zone-hosted gold resources.

Lill said: “Other companies in the region only have the conglomerates, they don’t have 1.2 million ounces — and growing — in structural gold.”

 

The executive chairman highlighted the company had more than 200 kilometres in shear zones that carried mineralisation.

Lill also noted that the project’s existing structural gold resources are more than 50% measured and indicated, a value he estimates at $20 to $30 million, given the savings the company can make on resource upgrade drilling.

The mineralisation is found on more than 1,500 square kilometres De Grey holds in the Pilbara region.

Lill said: “We’ve got more than 200 kilometres in shear zones that are carrying mineralisation, so all of these deposits and resources that we’ve got are along (the) shear zones.”

Less than 10% of the shears have been drill-tested, with very few holes found below a 150-metre depth.

READ: De Grey Mining’s drilling intersects multiple conglomerate beds at Steel Well


De Grey’s land tenure in the Pilbara extends over more than 1,500 square kilometres.

Historically, only the outcrops were drilled, so there are gaps in defining resources along the shear.

Orphan holes in between existing deposits have had stand-out results, such as Edkins in between the Amanda and Wingina deposits with 2 metres at 43.2 g/t and 3m at 29.3 g/t.

Lill said: “There is so much exploration potential in what we’re doing.”

Geologist Andy Beckwith has joined De Grey as a technical executive and shareholder and has conveyed his confidence in the quality of the Pilbara Gold Project to the market.

Beckwith said in July: “The more drilling we do, the more gold we find.”

A 0.2 gram gold nugget was found on a bulldozer track that exposed a small section of outcropping boulder conglomerate.

Pre-feasibility study pending

Drilling at the project undertaken over the past few months will be incorporated into a pending resource upgrade that will help inform the prefeasibility study for the project.

De Grey is completing an economic assessment for the wider pre-feasibility study expected in the December quarter.

READ: De Grey Mining’s high-grade results expected to boost gold bounty at Pilbara project

De Grey’s executive chairman told Proactive Investors there were two ways the company could proceed.

Lill said: “At the moment our next four months is prefeasibility and ongoing drilling. The prefeasibility study will then provide a decision point.

“The prefeasibility, we’re comfortable, will show a 7-plus year mine life and a million tonnes per annum to produce greater than 60,000 ounces per annum.”

He acknowledged that route would involve a financing process and building a plant.

READ: Diggers and Dealers Mining Forum focuses on growth, exploration and acquisitions

Conglomerate beds were found at Steel Well Prospect.

Lill said: “The competing theory is that we’ve got plenty of room to explore … we’ve got a very experienced and competent geological team that know the area — we are set up to explore and we have a lot of opportunity — that might be a better way for us to go for a while.”

A number of large resources companies made it clear during this year’s Diggers and Dealers Mining Forum they were on the hunt for new projects.

High-quality resources, such as De Grey’s mostly measured and indicated resource, could look good on a buyer’s statement.

The company’s existing shareholder base includes supportive major shareholder Kirkland Lake Gold Ltd (ASX:KLA) (TSE:KL) (NYSE:KL) (FRA:NGDA) which holds 9.2% and neighbour DGO Gold Limited, which has a 6.9% stake controlled by explorer and company investor Eduard Eshuys.

De Grey’s directors and management hold a collective 3.9% stake.


Pyritic horizons were identified throughout the conglomerate sequence found at Steel Well.

An investor perspective

DGO executive chairman Ed Eshuys told Proactive Investors that the company viewed De Grey as an “outstanding investment opportunity” due to its enormous prospectivity and relatively low cost of adding ounces.

Geologist Eshuys said: “DGO has invested in De Grey because in our view it has an outstanding package of land that has a 200-kilometre strike length and has been very lightly explored … both along strike and at depth.

“If you look at the De Grey presentations you can see that apart from having 200 kilometres of strike, they already have some 40 gold anomalies that remain to be followed up (and) 11 areas where there’s gold known, where’s there’s been gold drilling.

“When we compare that to similar companies to De Grey and similar land packages, the land package of De Grey is just far ahead of any opportunity we’ve seen in Western Australia.”

READ: De Grey Mining intersects pyritic conglomerate gold at Jarrett Well Prospect

The corporate investor said DGO’s view was the reason the opportunity had been ignored was because it was in WA’s Pilbara region and not Australia’s eastern goldfields.

Eshuys said: “The prospectivity is such that it is enormous potential.”

He pointed to De Grey’s comparative low of cost of discoveries, as measured in exploration dollars per ounce.

Eshuys said: “We’ve done very detailed analysis of the prospectivity and the cost of outlining that prospectivity in terms of the number of ounces that may be discovered and we’ve looked at that and compared that with other companies have reported their exploration costs to be.

“We think that on the De Grey land we should be able to find gold at something like $10 an ounce.”

DGO’s estimate of De Grey’s cost of finding resources is $15 less an ounce than the average costs estimated in a recent industry review.

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Mon, 27 Aug 2018 23:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203654/de-grey-mining-expects-upgrade-to-12-million-ounce-resource-at-pilbara-gold-project-203654.html
<![CDATA[News - De Grey Mining’s drilling intersects multiple conglomerate beds at Steel Well ]]> https://www.proactiveinvestors.com.au/companies/news/202631/de-grey-minings-drilling-intersects-multiple-conglomerate-beds-at-steel-well-202631.html De Grey Mining Limited (ASX:DEG) has intersected conglomerate beds in the first diamond core hole completed at the Steel Well Prospect within its Pilbara Gold Project in Western Australia.

The drilling returned multiple conglomerate beds down-dip of outcropping conglomerate, greywacke and siltstone units demonstrating overall true thickness of 68 metres.

Notably, multiple pyritic horizons were identified throughout the conglomerate sequence.

Pyrite-bearing pebble conglomerate at 14.20 metres

The Pilbara Gold Project has excellent potential for additional resources along the 200+ kilometres strike length, with only 10% of the shear zones having received detailed drilling to date to successfully define a +1.2 million gold ounces resource.

De Grey technical director Andy Beckwith said: “Our geological understanding of the conglomerate sequence at both Jarret Well and Steel Well has increased markedly and the multi-element assays are intended to focus the future bulk sampling on the preferred gold anomalous portions of the units.

“We now have pyrite bearing conglomerate units at all three prospects.”

Gold nugget

Recent metal detecting along the new access track to the drill site resulted in the discovery of a single gold nugget.

The gold nugget (0.2 grams) was found south of the Steel Well drill collar where the bulldozer track exposed a small section of outcropping boulder conglomerate.

Steel Well gold nugget found on access track

This nugget is the first discovered in proximity to the conglomerate outcrops at Steel Well.

De Grey has planned soil sampling programs for the Loudens Patch, Jarret Well and Steel Well prospects in the coming weeks.

 

The aim of the soil sampling is to identify and delineate the potential gold-bearing conglomerate horizons and highlight areas with high gold soil tenor which can be preferentially targeted in the upcoming bulk sampling program.

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Fri, 10 Aug 2018 11:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202631/de-grey-minings-drilling-intersects-multiple-conglomerate-beds-at-steel-well-202631.html
<![CDATA[News - De Grey Mining’s high-grade results expected to boost gold bounty at Pilbara project ]]> https://www.proactiveinvestors.com.au/companies/news/202323/de-grey-minings-high-grade-results-expected-to-boost-gold-bounty-at-pilbara-project-202323.html De Grey Mining Limited (ASX:DEG) expects to increase its 1.2 million ounce gold bounty at the Pilbara project in Western Australia after receiving high-grade results from recent drilling.

A new estimate is being prepared to include recent results from the Amanda and Amanda East deposits at the project, which is 60 kilometres south of Port Hedland.

 

Best result from the reverse circulation (RC) drilling at Amanda is 14 metres at 4.94 g/t gold from 19 metres, including 6 metres at 10.85 g/t from 20 metres.

Amanda East returned a strong result of 23 metres at 1.35 g/t from 10 metres, including 6 metres at 3.93 g/t from 20 metres.

This was the first detailed drilling carried out at the Amanda deposit since 2007 and has provided improved understanding and upside potential.

READ: De Grey Mining’s drilling expands high-grade gold footprint at Pilbara project

There were 16 holes drilled at Amanda for 978 metres and 17 holes at Amanda East for 1,092 metres.

The drilling was part of an infill and extensional RC program targeting improved and additional resources at the Mt Berghaus, Mallina, Toweranna and Amanda deposits.

At Amanda, mineralisation is open at depth and along strike to east and west, as well as the 500 metres of strike between the Amanda and Amanda East zones.

High-grade results

Other high-grade Amanda zone results are:

12 metres at 1.46 g/t from 14 metres, including 6 metres at 2.62 g/t from 18 metres; 13 metres at 1.23 g/t from 37 metres; and 15 metres at 1.00 g/t from 34 metres.

Amanda East also returned:

7 metres at 2.84 g/t from 9 metres; 7 metres at 2.39 g/t from 38 metres; 7 metres at 2.22 g/t from 43 metres; and 12 metres at 1.34 g/t from 16 metres.

To date, De Grey has defined more than 1.2 million ounces of gold across the 1,480 square kilometre Pilbara project, including 35,400 ounces at the Amanda deposit.

Many anomalies are untested

Only 10% of the 200-plus kilometres of mineralised shear zones have received detailed shallow RC and diamond drilling to a nominal depth of 100-150 metres.

There are more than 40 identified yet untested soil anomalies along the highly prospective regional-scale shear zones and conglomerates.

The Amanda deposit is within the Tabba Tabba Thrust, which also hosts the 287,700-ounce Wingina deposit 8.5 kilometres to the southwest.

Whilst Amanda and Wingina are essentially outcropping, limited detailed exploration drilling has occurred along the intervening strike length where mineralisation is outcropping and undercover.

The Edkins prospect is a prime example where previously reported high-grade RC drilling results of 2 metres at 43.2 g/t, 3 metres at 29.3 g/t and 3 metres at 7.3 g/t have not been followed-up.

Future work programs

Planning is underway for more systematic aircore/RAB drilling traverses targeting mineralisation masked by the thin veneer of sand cover, together with more detailed mapping and sampling of outcropping ridges along the Tabba Tabba Thrust.

As well as this drilling and preparation of a resource estimate, De Grey also proposes open pit mining optimisations as part of a pre-feasibility study economic assessment.

Infill RC drilling is also proposed between the two deposits utilising a specialised track-mounted RC rig capable of drilling shallow angled drill holes in areas where access for larger drill rigs is limited.

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Tue, 07 Aug 2018 09:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202323/de-grey-minings-high-grade-results-expected-to-boost-gold-bounty-at-pilbara-project-202323.html
<![CDATA[Media files - De Grey Mining intersects pyritic conglomerate at Jarrett Well ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9978/de-grey-mining-intersects-pyritic-conglomerate-at-jarrett-well-9978.html Mon, 30 Jul 2018 09:20:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9978/de-grey-mining-intersects-pyritic-conglomerate-at-jarrett-well-9978.html <![CDATA[News - De Grey Mining intersects pyritic conglomerate gold at Jarrett Well prospect ]]> https://www.proactiveinvestors.com.au/companies/news/201307/de-grey-mining-intersects-pyritic-conglomerate-gold-at-jarrett-well-prospect-201307.html De Grey Mining Ltd (ASX:DEG) has completed its first stratigraphic diamond core hole at the Jarret Well prospect within its Pilbara Gold Project in Western Australia.

The drill core reached 177.5 metres downhole and intersected 11.6 metres of pyrite rich pebble conglomerate towards the base of the conglomerate package.

READ: De Grey Mining begins heritage survey over conglomerate gold targets

De Grey technical director Andy Beckwith said: “The pyrite-bearing conglomerate appears very similar to the gold-bearing pyritic unit as reported by Novo Resources (CVE:NVO) at the Comet Well and Purdy’s prospect, some 120 kilometres to the west.”

The results have been interpreted as the down-dip extension of outcropping ferruginous and pyritic conglomerate mapped at surface where three gold nuggets were previously found.

Mapping has also extended the Jarret Well conglomerate in limited outcrop to around 1.5 kilometres strike length.

Drilling for the next stratigraphic hole has commenced at the Steel Well prospect to the east of Jarrett Well.

  READ: De Grey Mining could benefit from revived interest in conglomerate gold as it pushes ahead with PFS

The discovery of gold nuggets associated with previously unrecognised conglomerate sequences below the Mt Roe Basalt and above the older Mallina Formation provides additional exploration potential for the Pilbara Gold Project.

De Grey is targeting both structural and conglomerate gold mineralisation with the primary focus on continuing to expand De Grey’s substantial structurally hosted gold resource of 406,000 ounces.

A series of mapping and sampling programs across the project’s tenements are ongoing.

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Mon, 23 Jul 2018 03:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201307/de-grey-mining-intersects-pyritic-conglomerate-gold-at-jarrett-well-prospect-201307.html
<![CDATA[News - De Grey Mining’s drilling expands high-grade gold footprint at Pilbara project ]]> https://www.proactiveinvestors.com.au/companies/news/199999/de-grey-minings-drilling-expands-high-grade-gold-footprint-at-pilbara-project-199999.html De Grey Mining Limited (ASX:DEG) has confirmed further encouraging gold mineralisation within its existing resource limits at the Toweranna Gold Deposit within the Pilbara Gold Project in Western Australia.

Significant new shallow high-grade gold lodes intersected at the Southern, Northern and Eastern Zones include:

• 5 metres at 15.17 g/t gold from 33 metres, including 2 metres at 37.14 g/t gold;
• 22 metres at 4.82 g/t gold from 44 metres, including 3 metres at 23.28 g/t gold; and
• 7 metres at 17.29 g/t gold from 101 metres, including 3 metres at 37.82 g/t gold.

READ: De Grey Mining could benefit from revived interest in conglomerate gold as it pushes ahead with PFS

The latest results are expected to lead to a significant expansion of the current resource on the Western and Southern Zones and indicate the potential for maiden resources to be defined on the Northern and Eastern Zones with further drilling.

De Grey’s Pilbara Gold Project has excellent potential for significant additional resource ounces along its 200 kilometres plus strike length throughout the large 1,480 square kilometre land holding.

New high-grade gold intersections at Toweranna

To date, about 10% of the shear zones have received detailed shallow drilling to successfully define a +1.2 million ounce JORC gold resource.

De Grey is actively ramping up exploration throughout the tenement package in a drive to upgrade and expand known resources, as well as discover new deposits.

Notably, there are over 40 identified yet untested soil anomalies along the highly prospective regional scale shear zones and conglomerates.

New style and host to gold mineralisation developing

De Grey technical director Andy Beckwith said: “Recent drilling has been successful on all fronts with strong gold mineralisation defined throughout the granite.

“We expect the diamond drilling will also add to this exciting new style of mineralisation.

“This developing new style and host to gold mineralisation opens up a whole new dimension to additional targeting in the Pilbara Gold Project and the Pilbara region in general.”

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Tue, 03 Jul 2018 16:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199999/de-grey-minings-drilling-expands-high-grade-gold-footprint-at-pilbara-project-199999.html
<![CDATA[News - De Grey Mining begins heritage survey over conglomerate gold targets ]]> https://www.proactiveinvestors.com.au/companies/news/195307/de-grey-mining-begins-heritage-survey-over-conglomerate-gold-targets-195307.html De Grey Mining Limited (ASX:DEG) is undertaking a heritage survey over three conglomerate gold targets in the Pilbara region of Western Australia.

The on-ground component of the survey at the Loudens Patch, Jarret Well and Steel Well targets is expected to be completed in the next week.

Results are expected to be reported within a month of the survey being completed.

READ: De Grey Mining could benefit from revived interest in conglomerate gold as it pushes ahead with PFS

Pending a successful outcome, De Grey then expects to begin initial earthworks and bulk sampling programs with Loudens Patch the first priority.

Earthworks along the 1.4-kilometre Loudens Range are expected to expose the conglomerate horizon at specific locations.

These include at the base of the Mt Roe Basalt and across the stratigraphic horizons at Jarret Well and Steel Well.

Earthworks program approved

De Grey has received approval for a works program that will provide for total earthworks disturbance of 7,800 tonnes across the targets which will provide for suitable bulk sampling.

Detailed mapping is expected to provide a better understanding of the overall geology of the sequence, alteration and possible controls on gold mineralisation.

Bulk sampling planned

The next stage will also include detailed on-site bulk sampling, which De Grey intends to start immediately after approval is granted.

It will include on-site crushing and processing to provide a rapid visual assessment of gold content.

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Thu, 19 Apr 2018 09:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195307/de-grey-mining-begins-heritage-survey-over-conglomerate-gold-targets-195307.html
<![CDATA[News - De Grey Mining could benefit from revived interest in conglomerate gold as it pushes ahead with PFS ]]> https://www.proactiveinvestors.com.au/companies/news/194393/de-grey-mining-could-benefit-from-revived-interest-in-conglomerate-gold-as-it-pushes-ahead-with-pfs-194393.html De Grey Mining Limited (ASX:DEG) has a wide range of projects but in terms of generating medium-term cash flow, the focus is on its Pilbara Gold Project.

Management is forecasting a pre-feasibility study to be completed on the project in the fourth quarter of 2018.

The current resource is 1.2 million ounces with 590,000 ounces in the measured and indicated category.

Scoping study points to annual production of 57,000 ounces

While a scoping study conducted in 2017 suggested average production would be nearly 60,000 ounces per annum, there is the prospect of significant upside.

The scoping study did not include resources at Toweranna (40,700 ounces) and Mallina (147,000 ounces).

Management said there is also potential for improvements from increased open pit and high-grade underground resources.

With exploration initiatives underway, new discoveries and extensions to existing mineralisation have the potential to add feedstock.

Broker sees interest returning to conglomerate gold stocks

DJ Carmichael analyst Paul Adams sees the prospect of investors returning to conglomerate gold stocks such as De Grey which gained momentum in 2017 but fell out of favour towards the end of the year.

De Grey’s share price has more than halved from its 2017 high of 38 cents despite the fact that it is not just a conglomerate gold play and has a medium-term production profile.

Negative sentiment appeared to be driven by a lack of evidence that gold was hosted within conglomerate sequences in just the same way as that found by Novo (CVE:NVO) at Purdy’s Reward and Comet Well, 80 kilometres west of De Grey’s Indee tenements.

Near-term catalysts

Looking at upcoming catalysts, Adams said, “Over the coming weeks, Novo will be releasing its much-anticipated results from its bulk sampling program on its Pilbara tenements.

“De Grey is also about to embark on the next phase of its evaluation of its conglomerate gold mineralisation.

“Both companies have seen a resurgent share price over the last few weeks as activity increased and results were anticipated.”

It is worth noting that De Grey’s shares have rallied 50% since February.

Strengthening macro environment

Adams believes the dormant conglomerate gold sector could receive increased interest driven by macro tailwinds for gold generally.

He also expects increased interest in the Australian gold sector from overseas investors and, although still at a very early stage, specific interest in the potential for a significant gold discovery in the Pilbara.

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Fri, 06 Apr 2018 14:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194393/de-grey-mining-could-benefit-from-revived-interest-in-conglomerate-gold-as-it-pushes-ahead-with-pfs-194393.html
<![CDATA[News - De Grey Mining embarks on Pilbara Gold Project resource expansion drilling program ]]> https://www.proactiveinvestors.com.au/companies/news/193272/de-grey-mining-embarks-on-pilbara-gold-project-resource-expansion-drilling-program-193272.html De Grey Mining Limited (ASX:DEG) has commenced drilling at the Mt Berghaus gold deposit within the 1.2 million ounce Pilbara Gold Project, near Port Hedland, Western Australia.

The program aims to infill and upgrade resources, including areas within the August 2017 scoping study pit shells, to the level of JORC indicated category.

This will allow later conversion to reserves as part of the overall pre-feasibility study.

De Grey has platform for strong build since acquisition

The Pilbara Gold Project represents a combination of De Grey’s established Turner River projects and tenements acquired following the acquisition of Indee Gold in January.

The combination of the two projects considerably strengthened De Grey’s profile as its tenement packages contain more than 1.2 million ounces of established gold resources.

The company has had outstanding success in identifying shallow conglomerates style mineralisation within the Pilbara Gold Project area.

READ: De Grey Mining’s shares surge on finding gold nuggets at the Pilbara Gold Project

Stunning results which saw the company accumulate 91 nuggets ranging in size from two millimetres to 10 millimetres triggered a 500% share price surge in the second half of 2017.

Drilling at high-grade Toweranna prospect

Early stage drilling at Mt Berghaus is expected to be completed by April.

Following the Mt Berghaus drilling, similar infill drilling for resource upgrades will be undertaken at the Amanda, Hester, Mallina and Toweranna deposits.

At Toweranna, recent promising results are to be followed up to better define the high-grade intersections both along the western and southern zones.

Resource increase expected at Toweranna

This drilling aims to extend and infill mineralisation and is expected to provide a significant resource increase at the Toweranna gold deposit.

The inferred resource stands at 430,000 tonnes at 2.9 g/t for 40,700 ounces.

This existing resource is currently confined to only the lodes intersected along the western contact.

Share price tells the story

De Grey fell off the radar in late 2017, and its shares hit a low of 10 cents in early February.

However, when the Toweranna drilling results were released on February 2, the company’s shares surged 35%.

Resampling results confirm strong mineralisation extends further along strike and at depth outside of the existing Toweranna resource.

Shallow high-grade mineralisation previously detected

There are also indications of further high-grade lodes along the southern contact while areas to the east and north remain largely untested.

According to the Western Australian Mines Department, previous shallow underground mining produced over 5,000 ounces of gold, at an average grade of 40.9 g/t.

An updated resource estimate is planned to be completed during the second quarter of 2018.

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Thu, 22 Mar 2018 03:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193272/de-grey-mining-embarks-on-pilbara-gold-project-resource-expansion-drilling-program-193272.html
<![CDATA[News - De Grey's Simon Lill discussed Australia’s Pilbara Goldrush at Proactive's CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/187187/de-grey-s-simon-lill-discussed-australias-pilbara-goldrush-at-proactive-s-ceo-sessions-187187.html De Grey Mining Ltd's (ASX:DEG) chairman, Simon Lill, joined Proactive's CEO Sessions in Melbourne and Sydney this week.

De Grey is strategically positioned in the Pilbara, owning the low-risk Pilbara Gold Project which currently hosts 1.2 million gold ounces, and is growing.

The company also has three conglomerate gold targets with water melon seed shaped gold nuggets shedding from conglomerate outcrops.

Kirkland Lake Gold is investing $5 million in the company.

ACCESS THE FULL PRESENTATION HERE

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Thu, 16 Nov 2017 11:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187187/de-grey-s-simon-lill-discussed-australias-pilbara-goldrush-at-proactive-s-ceo-sessions-187187.html
<![CDATA[News - De Grey Mining’ shares surge on finding more gold nuggets in the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/186455/de-grey-mining-shares-surge-on-finding-more-gold-nuggets-in-the-pilbara-186455.html De Grey Mining Limited (ASX:DEG) has discovered two prospects where highly prospective conglomerate units have been mapped and associated gold nuggets have been found.

The pitted and flattened gold nuggets confirm two new conglomerate discoveries - Jarret Well and Steel Well.

This new conglomerate horizon beneath the previously reported 12 kilometre zone of Mt Roe Basalt significantly expands De Grey’s footprint for conglomerate gold within its Pilbara Gold Project.

De Grey’s shares were trading circa 14% higher intra-day, at $0.24.

The prospective conglomerate beds were recognised during reconnaissance geological mapping and associated gold nuggets found with subsequent metal detecting.

Importantly, the conglomerates are interpreted to form a large and continuous unit some 20-50 metres thick, shallowly dipping beneath the Mt Roe Basalt.

The prospective area beneath the Mt Roe Basalt represents an area of circa 10 square kilometres.

Further detailed mapping, metal detecting and geochemical sampling continues to progress around the margins of the Mt Roe Basalt where the basal conglomerate horizon is predicted to outcrop.

READ NOW: De Grey brings conglomerate hosted gold to Proactive's CEO Sessions

Earlier this month, De Grey signed an agreement to acquire 70% of the Blue Moon tenement, located within 20 kilometres of its proposed plant at the Pilbara Gold Project in Western Australia.

Blue Moon is considered highly prospective for structurally controlled high-grade gold discoveries in the basement rocks.

Small-scale prospecting at Blue Moon at shallow depths of circa 2 metres has produced over 1500 ounces of gold in the last 24 months as reported by the vendor.

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Tue, 31 Oct 2017 12:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186455/de-grey-mining-shares-surge-on-finding-more-gold-nuggets-in-the-pilbara-186455.html
<![CDATA[News - De Grey brings conglomerate hosted gold to Proactive's CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/186137/de-grey-brings-conglomerate-hosted-gold-to-proactive-s-ceo-sessions-186137.html De Grey Mining Ltd (ASX:DEG) already has a strong foothold in the Pilbara region of Western Australia, and is developing the +1.2 million ounce Pilbara Gold Project.

De Grey recently recognised gold nuggets shedding from conglomerates.

The company has also signed a binding option agreement to acquire 70% of the Blue Moon tenement, located within 20 kilometres of the proposed plant at the Pilbara Project.

Blue Moon is considered highly prospective for structurally controlled high-grade gold discoveries in the basement rocks.

Find out more from De Grey Mining at Proactive's CEO Sessions.

Click below to register by email

- Melbourne: Tuesday 14th November.
- Sydney: Wednesday 15th November.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Zelda Therapeutics (ASX:ZLD): Dr. Stewart Washer
- Thred Ltd (ASX:THD): Geoff Marshall
- De Grey Mining (ASX:DEG): Simon Lill
- Peninsula Energy (ASX:PEN): David Coyle
- Aspire Mining (ASX:AKM): David Paull

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Tue, 31 Oct 2017 11:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186137/de-grey-brings-conglomerate-hosted-gold-to-proactive-s-ceo-sessions-186137.html
<![CDATA[News - De Grey Mining’ shares rise after securing strategic gold prospect ]]> https://www.proactiveinvestors.com.au/companies/news/185769/de-grey-mining-shares-rise-after-securing-strategic-gold-prospect-185769.html De Grey Mining Limited (ASX:DEG) has signed an agreement to acquire 70% of the Blue Moon tenement, located within 20 kilometres of its proposed plant at the Pilbara Gold Project in Western Australia

The Blue Moon option secures a key strategic tenement within the Vanmaris leases recently optioned by De Grey.

Blue Moon is considered highly prospective for structurally controlled high-grade gold discoveries in the basement rocks.

Small-scale prospecting at Blue Moon at shallow depths of circa 2 metres has produced over 1500 ounces of gold in the last 24 months as reported by the vendor.

De Grey’s shares were trading 10% higher intra-day, at $0.22.

The finalisation of the new option agreement now consolidates all the tenements over an area where extensive gold mineralisation has been discovered by prospectors.

De Grey recently reported a significant resource upgrade to 1.2 million ounces of gold for the Pilbara Gold Project.

The new increased resources is an improvement over the scoping study financial model, through an increase in mine life.

De Grey now controls a substantial and contiguous landholding of over 1800 square kilometres with further untested gold anomalies throughout the project area.

Interestingly, the company recently recognised gold nuggets shedding from conglomerates.

This new style of gold mineralisation remains to be tested in detail, but is considered to have regional significance due to the potential for high-grade gold mineralisation.

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Wed, 18 Oct 2017 15:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185769/de-grey-mining-shares-rise-after-securing-strategic-gold-prospect-185769.html
<![CDATA[News - De Grey Mining eyes more gold in Pilbara after securing additional landholding ]]> https://www.proactiveinvestors.com.au/companies/news/184950/de-grey-mining-eyes-more-gold-in-pilbara-after-securing-additional-landholding-184950.html De Grey Mining Limited (ASX:DEG) is acquiring 80% of six granted tenements located within 20 kilometres of its proposed plant at the Pilbara Gold Project near Port Hedland in Western Australia.

Its shares were trading circa 9% higher intra-day, at $0.245.

The company has the option to acquire the additional 30 square kilometres of landholding containing high-grade gold exploration targets, with significant gold nuggets found to date by the vendor.

De Grey will initially pay $30,000 cash + 150,000 De Grey shares and will sole fund the exploration during the 4 year option period.

The company can elect to acquire 80% of the tenement on payment of $500,000 cash.

De Grey recently revealed a significant resource upgrade to 1.2 million ounces of gold for the Pilbara Gold Project.

A scoping study had indicated a financially robust development project, based on a 1 million tonne throughput, utilising a new purpose built processing plant.

Importantly, the new increased resources is anticipated to further improve the scoping study financial model.

READ NEXT: De Grey Mining bags $5M from Canadian gold producer Kirkland Lake Gold

Earlier this week, De Grey secured a $5 million investment from Kirkland Lake Gold Ltd (TSE:CRK) via the issue of shares at $0.15 each.

Kirkland Lake is a Canadian listed mid-tier gold producer with a market capitalisation of US$2.7 billion and forecast production of 570,000 – 590,000 ounces of gold for 2017.

The new funds will be used by De Grey for ongoing exploration and development activities at the Pilbara Gold Project

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Tue, 03 Oct 2017 14:09:00 +1100 https://www.proactiveinvestors.com.au/companies/news/184950/de-grey-mining-eyes-more-gold-in-pilbara-after-securing-additional-landholding-184950.html
<![CDATA[News - De Grey Mining bags $5M from Canadian gold producer Kirkland Lake Gold ]]> https://www.proactiveinvestors.com.au/companies/news/184877/de-grey-mining-bags-5m-from-canadian-gold-producer-kirkland-lake-gold-184877.html De Grey Mining Limited (ASX:DEG) has secured a $5 million investment from Kirkland Lake Gold Ltd (TSE:CRK) via the issue of shares at $0.15 each.

Kirkland Lake is a Canadian listed mid-tier gold producer with a market capitalisation of US$2.7 billion and forecast production of 570,000 – 590,000 ounces of gold for 2017.

Kirkland has interests in Australia through the high grade, low cost Fosterville mine in Victoria and have recently invested $58 million in De Grey’s Pilbara counterpart, Novo Resources Corp.

The new funds will be used by De Grey for ongoing exploration and development activities at the Pilbara Gold Project in Western Australia.

De Grey’s Pilbara Gold Project comprises the fully owned Turner River Project and the adjacent Indee Project, all located within 75 kilometres of the mining town of Port Hedland.

Together with its recent August capital raising of $3 million, De Grey has now raised $8 million, which confirms funding for its exploration programs through until the end of 2018.

READ HERE: De Grey Mining’s shares surge on finding gold nuggets at the Pilbara Gold Project

De Grey’s share price recently doubled intra-day after identifying a new conglomerate gold target containing gold nuggets at its Pilbara Gold Project.

The company found 91 nuggets ranging in size from 2mm to 10mm in and around the new target area west of Mt Roe Basalt.

De Grey is now undertaking mapping and sampling on both the western and the eastern sides of the prospective Mt Roe Basalt range targeting the prospective conglomerate horizon.

Importantly, the potential of the conglomerate gold opportunity adds to the company’s significant existing resource of +1.2 million gold ounces at the Pilbara Gold Project.

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Mon, 02 Oct 2017 10:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/184877/de-grey-mining-bags-5m-from-canadian-gold-producer-kirkland-lake-gold-184877.html
<![CDATA[News - De Grey Mining to take advantage of rocketing share price ]]> https://www.proactiveinvestors.com.au/companies/news/184699/de-grey-mining-to-take-advantage-of-rocketing-share-price-184699.html De Grey Mining Ltd's (ASX:DEG) shares more than doubled yesterday, closing at $0.15, following a gold discovery.

READ NOW: De Grey Mining’s shares surge on finding gold nuggets at the Pilbara Gold Project

De Grey is now heading to market with a capital raising, and the ASX has granted a trading halt.

The halt will remain in place until the opening of trade on Monday 2nd October 2017, or earlier if an announcement is made to the market.

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Thu, 28 Sep 2017 10:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184699/de-grey-mining-to-take-advantage-of-rocketing-share-price-184699.html
<![CDATA[News - De Grey Mining’s shares surge on finding gold nuggets at the Pilbara Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/184628/de-grey-minings-shares-surge-on-finding-gold-nuggets-at-the-pilbara-gold-project-184628.html De Grey Mining Limited’s (ASX:DEG) share price doubled intra-day after identifying a new conglomerate gold target containing gold nuggets at its Pilbara Gold Project in Western Australia.

This target represents a new area separate from the 12 kilometre Mt Roe Basalt target recently identified by De Grey.

To date 91 nuggets ranging in size from 2mm to 10mm have been found in and around the new target area west of Mt Roe Basalt.

Importantly, several nuggets have been found higher up the slope, outside the historic workings and within several metres of the conglomerate target zone.

All the nuggets found are smooth and waterworn, typical of a palaeo-placer gold deposit with most having pitting.

Many have the appearance of watermelon seeds and is considered comparable to Witwatersrand style gold mineralisation.

The size of De Grey’s new target is 1.5 kilometres by 400 metres with a depth of circa 5-10 metres

De Grey has also identified extensive alluvial gold workings dating from modern day scraping to historic alluvial and dry blowing mining.

These have been identified over 200 metres within the tenement area.

De Grey is now undertaking mapping and sampling on both the western and the eastern sides of the prospective Mt Roe Basalt range targeting the prospective conglomerate horizon.

Subject to additional mapping and sampling results, De Grey intends to assess the outcropping conglomerate areas for in-situ bedrock mineralisation.

Currently this work is most likely to include surface trenching to provide better exposures for detailed and bulk sampling and geological examination, followed by drilling testing.

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Wed, 27 Sep 2017 10:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184628/de-grey-minings-shares-surge-on-finding-gold-nuggets-at-the-pilbara-gold-project-184628.html
<![CDATA[News - De Grey Mining has exploration news from the Pilbara ]]> https://www.proactiveinvestors.com.au/companies/news/184399/de-grey-mining-has-exploration-news-from-the-pilbara-184399.html De Grey Mining Ltd (ASX:DEG) has been granted a trading halt by the ASX this morning, pending an update on exploration activities from its Pilbara Gold Project.

De Grey recently attracted investors to the project through an oversubscribed placement, which will fund reverse circulation and diamond drilling.

The halt will remain in place until the opening of trade on Tuesday 25th September 2017, or earlier if an announcement is made to the market.

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Fri, 22 Sep 2017 09:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184399/de-grey-mining-has-exploration-news-from-the-pilbara-184399.html
<![CDATA[News - De Grey Mining begins drill testing lithium targets near the Pilgangoora deposit ]]> https://www.proactiveinvestors.com.au/companies/news/183641/de-grey-mining-begins-drill-testing-lithium-targets-near-the-pilgangoora-deposit-183641.html De Grey Mining Limited (ASX:DEG) is commencing drilling at the King Col Pegmatite in Western Australia, following the successful application for co-funding.

The King Col pegmatite lies within De Grey’s tenements located within 40 kilometres from Pilbara Minerals’ (ASX:PLS) world-class Pilgangoora deposit (156.3 million tonnes at 1.25% lithium).

The co-funding has been approved under the Western Australia government’s Exploration Incentive Scheme (EIS), which will contribute $61,000 to De Grey’s program, being circa 50% of the cost.

The previous sampling by De Grey at the King Col Pegmatite Trend highlighted anomalous lithium and other associated elements for lithium-caesium-tantalum (LCT) style mineralisation.

De Grey’s reconnaissance rock chip sampling and subsequent follow-up systematic soil sampling has defined strong anomalies over an initial 2 kilometre strike length.

Further sampling is required to test the remaining 5.5 kilometres of the overall 7.5 kilometres long pegmatite trend.

The rock chip results highlight anomalous lithium results ranging from 0.15% to 4.22% lithium.

The drilling program will initially comprise circa 1,500 metres of reverse circulation drilling across the three main anomalous zones.

The drilling will test beneath the anomalous lithium-in-soil zones and determine the mineralisation potential in fresh bedrock.

Subject to positive results, a further program of diamond drilling will be undertaken to obtain fresh mineralisation in drill core for detailed mineralogical evaluation.

This will aim to define the presence of spodumene in the pegmatite system. Spodumene is the key lithium mineral in most lithium bearing pegmatite orebodies throughout the world.

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Fri, 08 Sep 2017 12:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183641/de-grey-mining-begins-drill-testing-lithium-targets-near-the-pilgangoora-deposit-183641.html