More High Gold Recoveries at Hemi for De Grey Mining (ASX:DEG)

More High Gold Recoveries at Hemi for De Grey Mining (ASX:DEG)

Share Price of gold explorer De Grey Mining Ltd [ASX:DEG] are up today after releasing the results of their metallurgical tests at Falcon and Crow zones.

Both zones are located at Hemi, which is about 60 km south from Port Hedland in Western Australia. Hemi comprises several zones that also include Aquila, Brolga, Diucon, and Eagle.

High gold recoveries at Falcon and Crow

De Grey announced high gold recoveries at Falcon and Crow zones today. The news comes after announcing similar results at Brolga and Aquila too.

At Falcon they hit an average metallurgical recovery of 94.2% on five separate composites of mineralisation (two oxide and three primary). Average head grade composites were 1.4 grams per tonne of gold and went from 0.9 g/t Au to 2.1 g/t Au. The overall average tail grade was less than 0.1 g/t of gold.

At Crow, average metallurgical recovery was 96.8% from five separate composites of primary mineralisation. Average head grade of composites was 2.0 g/t gold, and these went from 1.3 g/t Au to 3.8 g/t Au. Overall average tail grade was less than 0.1 g/t Au.

Glenn Jardine, De Grey’s Managing Director, said of the results:

The new metallurgical testwork from the Falcon and Crow deposits at Hemi continues to demonstrate encouraging gold recoveries. […] The consistently low tail grades achieved in testwork at Hemi will be carried through into project studies and evaluations.

Metallurgical testwork continues to provide confidence in the multiple pathways available to achieve high gold recoveries from Hemi and the regional deposits across the Mallina gold project.

How to Survive Australia’s Biggest Recession in 90 Years. Download your free report and learn more.

What’s next for the DEG Share Price?

De Grey is conducting more test work across all of Hemi’s deposits, and this includes Diucon and Eagle, where they are collecting diamond core samples with extensional drilling at depth. De Grey considers that mineralisation at Diucon and Eagle are similar to the other zones they’ve already tested at Hemi.

Shares for De Grey Mining are up after today’s announcement. At time of writing, they are trading at 99.7 cents, or up 2.8% from yesterday’s close.

Australia could be set to become the ‘epicentre’ of the biggest gold bull market in history. Check out why here.



 Selva Freigedo,
For The Daily Reckoning Australia

PS: Discover what is probably the easiest way to start investing in gold in Australia. In fact, it’s as easy as buying a book on Amazon! Click here to read the FREE report.