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.
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.