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De Grey unveils tier 1 scale 6.8Moz resources for Hemi gold deposit in Australia

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(Kitco News) - De Grey Mining (ASX: DEG) today announced a maiden mineral resource of 6.8Moz of gold for its Hemi deposit, which is a part of the company’s Mallina gold project, located in Western Australia.

According to the company’s statement, the global mineral resources for the Mallina project, including Hemi, increased to 9.0Moz. These mineral resources provide a strong platform for a scoping study targeted for completion in the September quarter 2021.

The company said that its exploration team has taken Hemi from discovery to a Tier 1 scale 6.8Moz gold deposit in a short timeframe. RC and diamond drilling commenced only 15 months ago and further extensions are expected at each deposit as drilling continues, De Grey added.

The company noted that the project studies, including metallurgy, geotechnical, mining, environmental, infrastructure and hydrogeology are continuing in parallel with the exploration drilling. These studies aim to provide information to define the development and production opportunities this scale of resource brings.

The company said it expects to be able to provide production potential for Hemi and the overall Mallina gold project to shareholders in the September quarter 2021 through the completion of a scoping study.

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