Project Overview:
The Hemi Project is located approximately 85km south of Port Hedland in Western Australia's Pilbara region. The Aquila-Crow intrusive body extends up to 1km east-west and 0.7km north-south, forming part of the larger Hemi deposit system which has a 6.5km strike length. The project represents a Tier 1 gold development opportunity with established infrastructure access and significant expansion potential.
Program Details:
The current drilling program has focused on three key areas: the high-grade McLeod Lodes at Crow, extensions at Aquila West, and testing the eastern extensions of Aquila. Drilling has confirmed mineralization extends up to 500m down-dip and 400m along strike beyond the current resource model. The program has demonstrated that the large mineralized system continues at depth and remains open.
Understanding These Results:
The reported intersections represent significant extensions beyond the current resource envelope and DFS pit shells. The high-grade McLeod Lode-style mineralization, characterized by smokey quartz veining with visible gold, represents a distinct style of mineralization that could enhance the project's grade profile.
The wide zones of mineralization at depth, particularly in the Aquila East zone where HEDD316 intersected 35.4m @ 2.8g/t Au, demonstrate the robust nature of the mineralizing system.
Management Commentary:
Phil Tornatora, De Grey General Manager Exploration, stated:
“Drilling beneath the DFS pit shells and below the current Mineral Resource at Aquila-Crow demonstrates that a large mineralised system extends to depth and is still open. The McLeod Lodes in the south of Crow continue to return high grade intercepts and it is exciting to see similar style mineralisation persists in deeper holes below Aquila. This extension drilling has strong potential to add to the Hemi MRE, in addition to supporting conceptual studies into potential future underground mining.”
Next Steps & Catalysts:
De Grey is preparing an updated Hemi Mineral Resource Estimate incorporating these results, anticipated for release before the end of 2024. Ongoing exploration includes RC drilling at Antwerp and Frillback, with additional drilling planned for the Scooby area. Diamond drilling continues to target extensions at Falcon and Antwerp.
Regional exploration is active with aircore drilling in the Lowe area on the Egina JV, and additional programs planned for West Yule and the Egina Joint Venture.
Commodity Outlook:
Gold continues to maintain strong fundamentals as a safe-haven asset. The Pilbara region represents a premier mining jurisdiction with established infrastructure and a supportive regulatory environment for resource development.
Conclusion:
The latest results from Hemi demonstrate significant potential to expand the current resource base and support underground mining scenarios. With mineralization remaining open at depth and multiple targets still to be tested, the project continues to demonstrate characteristics of a world-class gold system with substantial growth potential.
Sources:
De Grey Mining Drill Results Announcement Link
Additional Figures:
