De Grey Mining: Drilling Update - Toweranna 1M confirm High grade gold lodes
ASX: DEG
www.degreymining.com.au
Mr. Simon Lill reports:
Mt Hawthorn, WA / February 2, 2018 / JMN Wire / De Grey Mining Limited (ASX: DEG) ("De Grey", "Company") is pleased to report on drilling programs at the Toweranna and Blue Moon prospects within the Pilbara Gold Project, located approximately 100km from Port Hedland, Western Australia. The Company is undertaking continued exploration for additional resources and progressing detailed feasibility studies as it plans to establish a new processing plant and future gold production based on an initial open pit mining strategy.
Highlights
Multiple stacked high-grade lodes confirmed in 1m resampling
Significant potential to extend shallow resources along the Southern granite contact.Eastern and Northern granite contacts remain untestedSignificant open pit mining target; andAdded scope for longer term underground potential based on new drill results and historic holes intersecting high grade mineralisation to over 300m vertical depth.Additional RC and diamond drilling planned to commence in late February 2018 with resource upgrade to follow.
Western Zone (infill and extensions to current resource)
5m @ 8.38g/t Au (incl. 2m @ 19.43g/t Au),3m @ 18.43g/t Au,18m @ 3.86g/t Au (incl. 2m @ 18.12g/t Au)4m @ 19.14g/t Au,9m @ 5.19g/t Au (incl. 2m @ 19.94g/t Au)Southern Zone (not included in current resource)
16m @ 3.82g/t Au (incl. 2m @ 20.99g/t Au),11m @ 7.07g/t Au, 4m @ 5.10g/t Au14m @ 3.96g/t Au, 4m @ 6.46g/t AuEastern Zone (not included in current resource)
5m @ 12.87g/t Au (incl. 3m @ 20.62g/t Au)