Mt Hawthorn, WA / November 20, 2017 / JMN Wire / De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to report the commencement of a detailed RC drill program at the Toweranna deposit. The RC drilling program comprises a proposed program totalling 35 holes for 3800m with an initial 7 holes completed to date.
The primary focus of the drilling is to:
- infill existing drilling and extend mineralisation along strike and down dip around the
- increase overall resources to potentially open pit depths of approximately 100-120m below surface.
- increase confidence on the controls and continuity of gold mineralisation
- allow the resource to be upgraded to Indicated category which will allow for later conversion to
reserves in line with De Grey’s planned open pit mining and development strategy
Initial drill holes have intersected variable zones of smoky blue quartz veins with sulphide development and associated alteration along the margin of the sediments and granite intrusion, similar to mineralisation intersected in earlier drilling and evident in historic workings.
Drilling is expected to take approximately 3 weeks to complete with progressive results expected during the December/January period.
“The Toweranna resource is open in all directions and this drilling program is expected to extend and increase overall resources. Our open pit mining and development strategy will be boosted by any higher grade open pit resources.
Upon completion of this program, we will be moving the rig on to our next high-grade gold target at the Blue Moon prospect.” commented Technical Director and Operations Manager, Andy Beckwith.