De Grey finds major new gold discovery at Hemi prospect

Special Report: De Grey Mining’s headline-grabbing discovery at Hemi in WA has provided yet another bonanza in the form of a thick, intrusion named ‘Falcon’ by the company.

Discovered immediately south of De Grey’s (ASX:DEG) Aquila gold prospect at Hemi, Falcon is a 1.8 km long and up to 80m thick new altered intrusion 200m below surface that remains open to the south and at depth.

Falcon was discovered during current aircore drilling at Hemi, and is to the west and south of De Grey’s legendary Brolga and Aquila prospects. It has gold mineralisation defined over 1.5 km.

Initial drill results for the Falcon deposit include 21m at 3.4 grams per tonne for gold from 40m, and 19m at 2.1 g/t gold from 68m.

 

Falcon discovery expands Hemi’s footprint

“The discovery of the Falcon intrusion demonstrates the potential to significantly grow the gold endowment at Hemi as we expand our drilling footprint,” managing director, Glenn Jardine said.

The intense alteration and style of mineralisation observed to date at Falcon shows strong similarities to the Aquila zone, said the company.

A reinterpretation of Hemi’s geology shows the Aquila intrusion strikes for 1.2 km in a southwest orientation, and the new Falcon intrusion strikes for over 1.8 km in a north-south orientation, Jardine said.

 

Further exploration work to track Falcon intrusion

Drilling is continuing to track the Falcon intrusion to the south, and the orientation of the drilling has been realigned east to west to intersect the intrusion perpendicular to drilling.

“Opportunities to extend Hemi and to identify similar large scale, near surface Hemi-like intrusions in the Greater Hemi area are being actively pursued, with two aircore rigs in operation,” said Jardine.

Previously reported visible gold specimens in one drill hole for Falcon occur within an interval of 9m at 4.4 g/t gold with a peak of 15 g/t, forming part of a broader intercept of 58m at 2.1 g/t gold.

De Grey’s outstanding Hemi gold discovery is located approximately 60 km south of Port Hedland in WA.

 

This article was developed in collaboration with De Grey Mining, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post De Grey finds major new gold discovery at Hemi prospect appeared first on Stockhead.

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