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High grade gold: De Gray wants to turn Hemi into a world class mine!

Gold explorer since then De Gray Mining (WKN 633879 / ASX DEG) Hemi announced the discovery in December 2019, the company has now sunk the incredible amount of more than 200,000 meters of drilling – and has consistently produced strong results. So again today, when De Gray reports further, high-grade expansions from the Crow and Aquila Zones!

Crow and Aquila border the original Brolga Discovery Zone to the north and are being extended westward with 80-by-80-meter drilling, while 40-by-80-meter determination drilling is being carried out in the central and eastern part of Crow. The latest results from Aquila and Crow presented today confirm once again areas of high grade gold mineralization within a much larger and more powerful gold system!

Large high grade gold intercepts on Crow

From the Crow Zone in particular, De Gray has again reported some outstanding high-grade mineralization intercepts that were found northeast of the previously discovered 64 meters at 13.4 g / t gold. The highlights of the new results include:

– 17 meters grading 12.9 g / t gold from 91, including 7 meters grading 29.4 g / t gold;

– 5 meters with 7.4 g / t gold from 139 meters, including 3 meters with 11.6 g / t gold and

– 15 meters with 1.8g / t gold from 79 meters.

At the same time, numerous sub-parallel zones of mineralization would continue to be defined over a strike length of at least 500 meters, De Gray said. The mineralization also remains open. In addition, additional Crow veins are being defined in the sub-layer north of Aquila, indicated by an interval of 24.6 meters grading 1.4 g / t gold, it said.

Aquila now confirmed at a depth of around 400 meters

On the Aquila Zone, drilling extends the high grade, sloping spur westward. Aquila now extends over more than 800 meters from east to west and has been detected to a depth of approx. 400 meters.

New intercepts of mineralization from the western Aquila end include:

– 24.6 meters with 2.7 g / t gold from 244.36 meters, incl. 5 meters with 5 g / t gold from 252 meters,

– 4 meters with 2.8 g / t gold from 152 meters,

– 35.6 meters with 1 g / t gold from 419 meters,

– 1.7 meters of 4.5 g / t gold from 408 meters and 2.3 meters of 5.2 g / t gold from 425.7 meters.

De Gray continues to target high grade, declining expanses of Aquila with diamond drilling here.

The gold price is currently consolidating after the announcement of the potential, rapid availability of a corona vaccine from Pfizer / Biontech and the market also seems to have gotten used to the regular publication of good to very good drilling results from De Grey’s Hemi discovery. This is the only way to explain to us why the share hardly reacts to the results presented today, which we believe are once again excellent. At the current price of 1.13 AUD, De Gray is still valued at 1.44 billion AUD, even if it is now well below the high of around 1.44 AUD.

Extremely ambitious plans

If, however, the De Gray management has its way, all of these are only intermediate stages on the way to completely different spheres. What the Australian company is aiming for becomes clear when one considers the requirements that must be met in order for Managing Director Glenn Jardine and Technical Director Andy Beckwith to receive approximately half a million Australian dollars worth of shares and options as a bonus.

For this, De Gray would have to submit an independent feasibility study, which certifies Hemi to be able to produce 500,000 ounces of gold per year for “at least” 12 years! Such a mine would be one of the five largest gold mines in Australia, comparable to the Newmont Tanami Mine! Another possibility for the De Gray managers to get the huge bonus payment is that the company has official resources of 12 million ounces in the regions around Hemi – currently (excluding Hemi) De Grey’s Mallina project has deposits of ” only “2.2 million ounces of gold.

So the potential that is being seen internally for Hemi and the surrounding area is huge and we believe it would support market capitalization well beyond what De Gray currently has. In the long term, the current setback should turn out to be just a “small dent”. First of all, the first resource estimate for Hemi is due in the middle of next year, which should show in which direction the journey is going. Until then, De Gray will continue to drill at high pressure in view of the bulging coffers. There are currently seven (!) Drilling rigs in use …

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In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can hold shares in De Gray Mining and thus a conflict of interest could 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 generation of information and opinions can occur during this period. Furthermore, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party who is in the issuer’s warehouse (De Gray Mining), which creates a conflict of interest, especially since this third party grants GOLDINVEST Consulting GmbH for a fee for reporting De Gray Mining pays off. This third party can also hold, sell or buy shares in the issuer and would benefit from an increase in the price of De Gray Mining’s shares. This is another conflict of interest.

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