A new, potentially high-grade discovery has seen De Grey Mining Ltd shares run from 4c to 24c since early February.
The price spike comes on the back of a new high-grade gold discovery on the company’s Pilbara project, the Hemi prospect. De Grey has several drill rigs turning at Hemi as it scopes out the size of two parallel zones, Aquila and Brolga.
Drilling to date has confirmed Aquila as being at least 30m wide, 170m deep and 750m long which Brolga is bigger again with drilling continuing despite it already proving to be 200m wide, 170m deep and 160m long.
The company has redoubled its drilling efforts in the hope of producing an inferred resource for Hemi by June.
GMJ editor Dominic Piper spoke with De Grey technical director Andrew Beckwith about the discovery and its likely impact on the company’s wider development plans on Paydirt TV https://www.youtube.com/watch?v=gypjwRdEHLw
For more on De Grey, Hemi and the entire Australian gold exploration sector, look out for the April edition of GMJ.