De Grey Mining grows Hemi gold discovery with extensions to Brolga zone
De Grey Mining (ASX: DEG) has revealed another gold find within the recent Hemi discovery after identifying extensions to mineralisation at Brolga zone.
Drilling at the Brolga zone has intercepted 78m at 1.8 grams per tonne gold from 40m, 72m at 1.6g/t gold and 15m at 5.5g/t gold.
De Grey technical director Andy Beckwith said Brolga was “growing substantially”, adding the company had identified gold sulphide mineralisation to the west and down dip.
“We have now confirmed the strong correlation between gold and sulphides. The recent four reverse circulation holes to the south and west have logged some of the strongest sulphide mineralisation noted to date.”
Mr Beckwith added De Grey planned to continue drilling with one reverse circulation rig and two diamond core drills to test the limits of the Hemi mineralisation.
Hemi forms part of the Mallina project located 60km from Port Hedland in Western Australia’s north.
The Hemi prospect discovery was first reported in December last year with mineralisation uncovered at both Aquila and Brolga zones (previously reported as section A and section B, respectively).
According to De Grey, the gold footprint at Hemi now exceeds 340m of strike, 300m in width and 200m in depth.
Previous results at Aquila have included 51m at 2.1g/t gold from 108m, 62m at 1.4g/t gold from 59m, and 20m at 2g/t gold from 142m.
At Brolga earlier results have included 43m at 1.9g/t gold, 36m at 3.2g/t gold and 43m at 1.9g/t gold.
Gold continues climbing
As COVID-19 sweeps through the world wreaking havoc, gold’s traditional safe haven status has been maintained.
The metal was last commanding A$2,720 per ounce – up substantially from around A$2,200/oz where it has hovered between September and January.
With gold rocketing and De Grey’s discovery expanding, investors reacted positively spurring the company’s share price up more than 34% to $0.275 by midday.