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De Grey Mining intersects high-grade gold up to 500+ metres below current Toweranna resource

The drilling program since July 2019 targeted and has successfully achieved depth extensions to the mineralisation from 200 to beyond 700 metres.

De Grey Mining Ltd - De Grey Mining intersects high-grade gold up to >500 metres below current Toweranna resource
A new resource estimate will now be undertaken

De Grey Mining Ltd (ASX:DEG) has confirmed further significant gold drilling results from its resource extension diamond drilling program at Toweranna targeting new mineralisation below the current open pit resource.

The company already has a resource of 5.33 million tonnes at 2.1/t gold for 356,600 ounces at Toweranna (entire resource is in the top 200 metres) within its flagship Pilbara Gold Project in WA.

Toweranna deposit about 35 kilometres west of the Withnell Deposit

Significant new drill intercepts below the open pit resource include:

  • 6.0 metres at 9.0 g/t gold from 300 metres in TRC150D (including 2.18 metres at 22.0 g/t gold from 300.73 metres);
  • 4.65 metres at 8.3 g/t gold from 745.65 metres in TRC174D (including 1.2 metres at 31.1 g/t gold from 745.65 metres);
  • 6.7 metres at 5.1 g/t gold from 282.51 metres in TRC160D (including 0.95 metres at 34.3 g/t gold from 285.62 metres); and
  • 2.05 metres at 16.3 g/t gold from 666.15 metres in TRC174D (including 0.35 metres at 94.6 g/t gold from 666.15 metres).

Toweranna cross section

De Grey technical director Andy Beckwith said: “The widespaced diamond drilling confirms continuation of numerous stacked high grade gold veins throughout the intrusion and adjacent sediments which provides significant resource upside potential.

“This drilling has essentially shown better than a threefold extension of the mineralised system, with high grade gold veins extending more than 500m beyond the current open pit resources which contains 5.3Mt @ 2.1/t Au for 356,600oz.”

Forward programs

Drilling completed since the July 2019 resource estimate has targeted depth extensions to the mineralisation between 200 to 700 metres depth.

The bulk of this drilling is widespaced with holes ranging from 40 metres to 180 metres apart.

A new resource estimate will now be undertaken.

Evaluation of the ore sorting and crushing is currently underway with detailed comparative gold assays commencing shortly.

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