De Grey completes landmark acquisition of Indee Gold

De Grey Mining now has 100 per cent control of one of the best underexplored new gold provinces in Australia.

The company (ASX:DEG) has completed the acquisition of Indee Gold and is well on its way to a bigger resource with three drill rigs in full swing in the Pilbara.

“Today is a major milestone for De Grey and an extremely pleasing conclusion to a process that we commenced in February 2017 where, with a market capitalisation of ~$3.5m, we reached agreement with our Chinese partners and friends to acquire Indee Gold for $15m,” executive chairman Simon Lill said.

“Since this time, we have rapidly grown the overall project resources to 1.7 million ounces and can clearly see significantly more ounces on the horizon.”