De Grey Mining Scores Further High-Grade Intercepts at Toweranna

THE DRILL SERGEANT: De Grey Mining (ASX: DEG) released results for an additional 17 RC drill holes undertaken at the company’s Toweranna gold deposit in the Pilbara of Western Australia.

De Grey Mining has now completed the RC program with a total of 42 holes drilling in advance of 10,126 metres.

The company explained the RC drilling was undertaken on a 40m by 40m basis to allow for an open pit resource estimation to 200m depth, targeting lateral and depth extensions to the existing shallow 2018 Toweranna Mineral Resource of 2.01 million tonnes at 2.2 grams per tonne gold for 143,900 ounces.

De Grey stated the new drilling results confirm lateral extensions and additional stacked lodes and add further support to an anticipated substantial increase to the current open pit resource to 200m depth.

Potential to extend gold lodes beyond 200m is currently being evaluated with selected scout diamond holes testing for mineralisation between 200 to 600m depth.

Latest RC results include:

11 metres at 2.11 grams per tonne gold from 45m;

8m at 2.71g/t gold from 31m, including 3m at 6.73g/t gold from 35m;

7m at 9.27g/t gold from 209m, including 1m at 25.5g/t gold from 209m, including 1m at 17.85g/t gold from 212m; and

15m at 4.71g/t gold from 223m, including 3m at 8.55g/t gold from 223m, including 1m at 37.1g/t gold from 235m.

12m at 2.23g/t gold from 195m;

13m at 1.61g/t gold from 217m; and

23m at 1.54g/t gold from 246m.

“De Grey continues to successfully establish strong shallow gold mineralisation at Toweranna,” De Grey Mining technical director Andy Beckwith said in the company’s announcement to the Australian Securities Exchange.

“Toweranna continues to open our eyes to this new style of gold mineralisation.

“We don’t know how big Toweranna can be just yet as it remains open and is only constrained by the limit of drilling.

“This next phase of deeper scout diamond drilling will give us an indication of the resource potential between 200 to 600 metres depth.”