De Grey Mining Limited (ASX: DEG) believes it possibly onto a major discovery with “outstanding” initial results achieved from follow up aircore drilling at the newly discovered Hemi Prospect at the Mallina Gold Project in WA’s Pilbara region.
To date the ongoing aircore programme has identified substantial thick and high-grade gold mineralisation which was intersected on two sections 640m apart.
Highlight intersections include:
- 24m @ 7.5g/t Au from 126m, including 18m @ 8.6g/t;
- 49m @ 3.7g/t Au from 65m, including 18m @ 6.6g/t; and
- 36m @ 4.0g/t from 39m, including 11m @ 8.9g/t.
Technical Director, Andy Beckwith, said the mineralisation remains open in all directions and at depth.
For an exploration geologist, these results are both satisfying and exciting. Hemi’s shallow high grade gold zones provide an excellent opportunity to increase resources and further derisk our path to production,” Mr Beckwith said.
“The individual assays down hole are very robust creating solid high grade gold zones over considerable thicknesses which we expect to continue at greater depth.
“On Section A, drilling has defined a subvertical to south dipping 30m wide gold zone hosted in sediments. Section B shows a potential +60m wide gold zone in an intrusive with drilling yet to be completed below the oxide zone.
“We currently interpret that the two mineralised zones are structurally related, suggesting we could be drilling a major new gold discovery.
“Aircore drilling will continue to define the lateral extent, orientation and potential scale of the mineralised system. Follow-up RC and diamond drilling will commence shortly with a view to establishing an initial inferred resource.”
Mr Beckwith said the aircore drilling programme is aimed at better defining the recent high grade gold mineralisation (43m @ 3.7g/t Au and 25m @ 2.7g/t Au), on the 640m spaced sections as well as infilling lines to establish 320m x 80m spaced drilling.
The aircore programme remains ongoing with a total of 57 new holes completed for a total of 4709m to date.
Geological logging indicates the broad zone of gold mineralisation is hosted in an altered intrusion with abundant sulphide development. The high grade, broad and robust nature of the gold mineralisation provides scope to define a substantial resource with further drilling.