De Grey Mining Ltd

De Grey Mining commences extension drill program at Toweranna

The RC drill program underway is expected to be completed during March.

rc drill rig
Following the RC drilling program, a deeper diamond drilling program is planned

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.

Quick facts: De Grey Mining Ltd

Price: $0.05

Market: ASX
Market Cap: $46.93 m

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De Grey Mining 'adding to resource base in next 6 months' in the Pilbara

De Grey Mining (ASX: DEG) chairman Simon Lill speaks to Proactive Investors about exploration and development works, and the company's growing gold reserves and resources, in the Pilbara region of Western Australia. Lill also updates on the acquisition of of Indee Gold Pty Ltd.

on 28/2/19

2 min read