De Grey Mining Wins Craig Oliver Award and Reports New Results from Diucon Deposit at Hemi
THE CONFERENCE CALLER: De Grey Mining (ASX: DEG) enjoyed the opening morning of the 2022 RIU Explorers Conference by picking up the celebrated Craig Oliver Award.
The Craig Oliver Award is presented each year at the RIU Explorers Conference in memory of the former Sundance Resources director and major contributor to the mining industry and recognises the ASX resources sector’s best all-round achiever throughout the previous 12 months.
When accepting the award in front of a packed day one auditorium at The Esplanade Hotel in Fremantle, De Grey Mining general manager exploration Phil Tornatora said the De Grey story was one that perfectly suited an explorer’s conference.
“The Hemi discovery was made in a frontier area in the Pilbara not seen as a gold destination,” he said.
“Our philosophy has been a geologist’s main job is to find the ore body.
“You can’t find anything without drilling and never die wondering.
“My summary for Hemi is it’s big, it will get bigger and it will be a very big gold mine.”
De Grey had earlier released the latest resource definition and resource extension results from the Diucon deposit at the company’s Hemi gold project in Western Australia.
The drilling has demonstrated gold mineralisation at Diucon to have similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow, Falcon and Eagle.
Drilling at Diucon and Eagle has intersected broad zones of mineralised intrusive in resource definition and extensional drilling including late high-grade mineralisation associated with quartz-carbonate veining, sericite-albite alteration and visible gold.
New resource definition drilling results include:
HEDD064
148.6 metres at 2 grams per tonne gold from 92m, including 8.9m at 7.3g/t gold from 101m and 34.8m at 2.9g/t gold from 129.3m;
HEDD305
8m at 5g/t gold from 131m and 71.1m at 3.5g/t gold from 188m, including 38.1m at 6.2g/t Au from 221m;
HEDD307
64m at 3.7g/t gold from 259m;
HEDD107
152.5m at 2.3g/t gold from 53m, including 25m at 4.4g/t gold from 106m and 6.3m at 25.7g/t gold from 135.4m; and
HEDD108
104m at 1.2g/t gold from 151.8m, including 33.2m at 2.3g/t gold from 151.8m.
New extensional drilling results include:
HERC775D
128.9m at 1.5g/t gold from 340m, including 26.3m at 2.3g/t gold from 341m and 43.9m at 2.2g/t gold from 374.1m and 9m at 2.4g/t gold from 441m.
“The resource definition results at Diucon have continued to intersect broad deposits of mineralisation including high grade intervals near surface,” Tornatora said in the company’s ASX announcement.
“[These] and other recent intersections are expected to have a positive impact on the Diucon resource grade and PFS mine schedule.
“The new extensional result at Diucon in HERC775D…including higher grade intervals is located approximately 100 metres beneath the Scoping Study open pit design.
“New pit shell optimisations will be conducted in the PFS aiming to increase gold production from the Diucon pit.
“Diamond drilling at Hemi will pivot to resource extension and discovery drilling after the March quarter and these new results at Diucon provide encouragement.
“Exploration with aircore and RC drilling continues to be conducted in the Greater Hemi region outside the Hemi footprint seeking new near surface gold bearing intrusions.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
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