De Gray Mining (WKN 633879 / ASX DEG) is now active with six drilling rigs on its huge gold discovery Hemi. So it is no wonder that the flood of drilling results is continuing. But De Gray not only increases the quantity, but also continues to deliver quality, as the latest, once again excellent results show!
De Gray had drilled holes in the Aquila and Crow zones, among others, to expand the extent of the gold mineralization, but also drilled so-called designation holes, which will be used even before the first resource estimate for Hemi – which is scheduled for mid-2021 wants to transfer a larger part of the expected resources to the higher category “indicated”. This would put the confidence in and the quality of the hemi-resource estimate at a high level from the start.
Aquila Zone: High grade gold mineralization expanded
In the Aquila Zone, De Gray has been able to expand the western zone of high-grade gold mineralization with results pending from two deeper holes. However, further drill results continue to expand broad zones of “robust” gold mineralization, the company said in today’s announcement.
The mineralization remains open both at depth and on strike, according to De Gray, which means there is potential for additional expansion. As De Gray also announced, the future program at Aquila will include both extension and determination wells.
The highlights of the most recent drilling showed once again good grades over very broad mineralized sections:
– 38.4 meters with 3.2g / t gold from 205.05 meters,
– 68 meters with 1.2 g / t gold from 136 meters and
– 53 meters with 1.2g / t gold from 165 meters.
Crow: Determination drilling returns bonanza grades
In the Crow Zone, De Gray performed predominantly exploratory drilling, particularly in the central and eastern areas of the deposit. According to the company, the veins are still almost vertical. Here, too, the mineralization remains open to the depths and also to the northwest.
The highlights of these holes were:
– 42.8 meters with 2.8 g / t gold including 4.6 meters with 14.1 g / t gold,
– 28.7 meters of 1.1 g / t gold,
– 23 meters of 1.5 g / t gold,
– 5 meters of 8.0 g / t gold,
– 14 meters of 3.2 g / t gold,
– 32 meters of 1.1 g / t gold and
– 5 meters with 72.9 g / t gold incl. 1 meter with 358 g / t gold!
According to De Grey’s Technical Director Andy Beckwith, this shows that a cluster of new, high-grade ore intercepts are emerging on Crow – including the bonanza grade of 358 g / t gold – extending over approximately 240 meters of strike length. This would mean that the pilot drilling in the Crow Zone would continue to show strong gold enrichment in potentially new, nearly vertical veins.
The sloping high grade zone on Aquila, said Mr Beckwith, continues to grow westward and, as it descends, towards the new Falcon zone. Gold mineralization has been demonstrated to a depth of around 500 meters at both Aquila and Crow, with mineralization remaining open.
Once again, in our view, the results published today show that De Gray has not only made a very large but also a high quality gold discovery with Hemi, characterized by wide mineralized intercepts, consistently strong grades – with occasional upward outliers – and one apparently characterized by high continuity of mineralization. Each release makes us more excited for the first Hemi resource estimate!
According to §34 WpHG we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can or do hold shares in the companies mentioned and thus a conflict of interest may exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical information and opinion generation can occur during this period. Furthermore, a consulting or other service contract can exist between the companies mentioned and GOLDINVEST Consulting GmbH, directly or indirectly, which can also result in a conflict of interest.
Note: PERSONAL-FINANCIAL.COM publishes analyzes, columns and news from various sources in this section. PERSONAL-FINANCIAL.COM AG is not responsible for content that has been recognized by third parties in the “News” area of this website and does not adopt it as its own. This content can be identified in particular by a corresponding “from” label below the article heading and / or by the link “To read the full article, please click here.”; The named third party is solely responsible for this content.