More ounces seen for Eagle at Hemi

DE GREY Mining believes there is potential to “significantly increase” the mineral resource estimate for the Eagle deposit, part of the multi-million ounce Hemi project in Western Australia.
More ounces seen for Eagle at Hemi More ounces seen for Eagle at Hemi More ounces seen for Eagle at Hemi More ounces seen for Eagle at Hemi More ounces seen for Eagle at Hemi

Hemi exploration camp, Pilbara, WA

Staff Reporter

Drilling has hit mineralisation 160m from the current resource boundary, with a headline assay being 84m grading 2.8 grams per tonne gold from 136m.

The current resource for Duicon/Eagle is 48.5 million tonnes at 0.9gpt for 1.45 million ounces.

"The gold mineralisation at Eagle shows similar alteration and sulphide development as seen at the adjacent deposits of Aquila, Brolga, Crow, Falcon and Diucon," De Grey said.

"However, like Diucon, Eagle also shows overprinting quartz veins which carry visible gold and high grades."

Hemi's total resource currently stands at 192Mt at 1.1gpt Au for 6.8Moz.

Meanwhile, the market awaits the release of a scoping study this quarter.

Shares in De Grey trading this week at A$1.08, capitalising the company at $1.4 billion.