Gold, News

De Grey to ‘significantly’ expand Hemi

de grey

Promising results from recent drilling will see De Grey Mining expand its Hemi gold project in Western Australia.

In November 2023, De Grey announced drilling had extended mineralisation at Hemi’s Eagle deposit for at least 250m down plunge to the west and over 300m down dip, beneath the current pit plan.

Recent drilling has extended mineralisation at Eagle for a further 200m down plunge, with mineralisation still open at depth and potentially along strike.

The Hemi Diucon deposit also saw an increase, with a reverse circulation program currently underway testing shallow targets extending to the west of Diucon and into the Antwerp deposit.

“Further significant intercepts continue to extend Eagle at depth,” De Grey exploration general manager Phil Tornatora said.

“In addition to potential resource increases, deeper drilling at Hemi will support our conceptual studies into potential underground mining in the future.

“Deeper diamond drilling is now focussed on extending the Aquila mineralisation at depth, with diamond drilling also being planned for Falcon and other targets.”

Other recent exploration at Hemi includes reverse circulation drilling along the Diucon thrust to the north of Crow.

This work targeted gravity anomalies along the Diucon thrust, and plans to extend the program to the Scooby area. Diamond drilling is currently targeting Aquila and Crow extensions.

Aircore drilling has recently been completed in the Frillback area near Hemi, testing targets beneath the proposed Hemi waste dumps.

Follow up aircore drilling was also completed at the Mount Berghaus Proper area to drill structural targets under cover, before the rig moved to the Egina joint venture area.

The exploration program and extension of Hemi’s prospects are thanks to a recent $500 million boost from a fully underwritten institutional placement held in May.

Gold Road Resources – De Grey’s largest shareholder – is committed to taking up all of its entitlements under the entitlement offer by subscribing for over 46 million new shares, which came to about $50.9 million in value.

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