De Grey Mining has said recent drill results from the Aquila and Crow deposits at Hemi display strong potential to add to the Hemi mineral resource estimate (MRE) and production potential.
Hemi is located approximately 85km south of Port Hedland in the Pilbara region of Western Australia. Aquila and Crow are to the north of the Hemi deposits. Recent drilling has continued to target extensions to the November 2023 MRE at Eagle, Aquila, Crow, and Antwerp.
The Hemi DFS, based on the June 2023 MRE, demonstrates a robust Tier 1 project with outstanding financial metrics. The new extensional drill results in this release represent further potential upside to the definitive feasibility study (DFS) outcomes and support the Hemi underground mining concept.
De Grey said the schematic long section of the 6.5km strike of the Hemi deposits shows significant intersections below the DFS pit designs. Limited drilling to date beneath the Hemi DFS pit designs represents an opportunity to significantly increase the MRE and Hemi production potential.
Discovery and Mineral Resource extension drilling is continuing within the Greater Hemi area and regional targets including West Yule and the Egina Joint Venture. The company said it is preparing an updated Hemi MRE incorporating these results, anticipated for release before the end of 2024.
De Grey General Manager Exploration, Phil Tornatora, said, “Drilling beneath the DFS pit shells and below the current mineral resource at Aquila-Crow demonstrates that an extensive 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.”
Featured image: Dmitry Kalinovsky/shutterstock.com.
