Nexus Gold

De Grey Mining Commences RC Drill Program at Blue Moon Prospect in Pilbara Region

West Perth, WA / December 6, 2017 / JMN Wire / De Grey Mining Limited (ASX: DEG) (“De Grey”, “Company”) is pleased to report the commencement of an RC drill program at the Blue Moon prospect on tenement P47/1773.

The RC drilling program comprises a minimum of 24 holes to average of 80m depth and a total of around 2000m of drilling. Drilling is on 200m-nominally spaced sections, over a strike length of around 1km, with holes spaced at 40m apart on each section. Drilling is targeting an interpreted north-east trending structure, defined by surface mapping, remote sensed imagery and airborne geophysics which occurs along the southeastern margin of a relatively massive gabbro body where the owner has recovered over 1500 ounces of gold to date from shallow quartz-rich gravels using metal detectors.

Drilling will provide first pass subsurface geological information and potential gold grades associated with the interpreted structure. Subject to positive drilling results, additional infill RC and diamond drilling will be planned for the first quarter of 2018.

“The Blue Moon Prospect is an exciting target. There are not many projects where you are drilling the first ever holes beneath such a strong zone of gold nuggets found at surface.” commented Technical Director and Operations Manager, Andy Beckwith.

Highlights

  • Drilling program aims to test approximately 1km of strike along the gold trend defined by numerous gold nuggets discovered by the owners of the tenement (refer to ASX release ‘Bonanza Gold Target secured – Blue Moon Prospect” 18 October 2017.)
  • Drilling will be undertaken along the initial 1km strike length of the main gold nugget trend on sections nominally 200m apart with 3-4 holes per section. A second interpreted parallel trend will also be tested.
  • Initial drill holes have intersected ultramafic rocks hosting variable zones of quartz veining with associated pyrite (sulphide mineral visually estimated to range from minor to 5%). Fresh bedrock has been intersected at shallow depths between 6-8m downhole.
  • Drilling is expected to take approximately 7-10 days to complete with results expected during January 2018.

De Grey Mining Limited 12 6 2017

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Azincourt Energy

Azincourt Energy

Azincourt Energy is a Canadian resource company specializing in strategic acquisition, exploration and development of alternative energy/fuel projects focusing on uranium, lithium, cobalt and other critical energy and fuel elements. Azincourt is actively building a portfolio of projects that will meet the world’s increasing need to power the future. Currently the Company is developing uranium projects in the Athabasca basin as well as lithium pegmatite projects in Manitoba... LEARN MORE

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