Overview

De Grey Mining is a West Australian mining company that focuses on the development of gold.

De Grey Background

The Pilbara Gold Project, located an approximate hours drive from Port Hedland, now hosts a 1.7Moz resources. The project covers a large contiguous landholding (>1,500km2) with De Grey holding:

  • 100% ownership of the eastern half of the project
  • the right to acquire 100% of the western portion (Indee Gold Pty Ltd) of the project, and which is expected to now settle on or before 24 August 2019; and
  • additional joint venture and option agreements to the south providing De Grey with the right to earn between 70-80% of separate tenements in the southern portion of the project area. The main tenement area is the Farno McMahon ground, where the joint venture partner is Novo Resources of Canada.

Apart from the potential to further increase resources, and the additional 3.47Mt of base metal resources, are located on granted exploration and mining leases owned either 100% by De Grey or within the Indee Gold tenements where De Grey holds the right to acquire 100%.

The regional scale shear zones extend over 200km in strike length in total within the project area. Detailed RC and diamond drilling is estimated to have tested less than 10% of these prospective shear zones. In general, the detailed drilling has only reached shallow depths of around 100m except for:

  • the two main Withnell and Wingina gold deposits, where limited drilling extends mineralisation to approximately 400m and 300m vertical depth respectively; and
  • Toweranna where the very limited historical drilling has shown mineralisation to 350m.

The under-explored nature of the mineralised structures coupled with 5 partially tested large gold systems and over 40 untested gold anomalies provides confidence further discoveries will be made within the project area (ASX Announcement “Annual Report 2018, 29/10/2018).

For more information about the Pilbara Gold Project, click here.