De Grey Mining Limited (ASX: DEG)
ASX
RELEASE
15 SEPTEMBER 2008
DRILLING COMMENCES AT BEYONDIE ZINC TARGET
De Grey Mining Limited (ASX
code: DEG) is pleased to advise that RC drilling has commenced at the Beyondie
Project, located 160km south of Newman.
De
Grey?s 2,600km2 Beyondie Project contains the large scale
Proterozoic shale-hosted zinc target at Beyondie Bluff (see Figure 1).
Previous work has identified widespread base metal and silver anomalism in
calcareous and dolomitic shales at the foot of the quartzite?capped
bluff. The Proterozoic rocks and geological environment are similar to
those hosting major Queensland SEDEX-style
zinc-lead-silver deposits such as Mount
Isa, MacArthur
River and Century.
Previously reported drilling by
De Grey from 1km spaced holes has returned base metals mineralisation of up to
10m at 0.81% zinc, 0.13% nickel and 0.13% copper as well as 2m at 0.22g/t gold
and 10m at 3g/t silver. Mineralisation remains open down dip to the north
and along strike to the east and west. Previously reported rock chip
samples grade up to 219g/t silver.
Further drilling at Beyondie
Bluff had been delayed by a change in the Native Title representative body for
the area. Heritage surveys were successfully completed in June and drilling
commenced on 10 August.
The seven hole, 1,500m program
will test the full thickness of the shale stratigraphy beneath the Beyondie
Bluff quartzite for the first time. The kilometre spaced holes are designed to
provide a vector towards a potential high grade body of shale-hosted
mineralisation, as illustrated in Figure 2. Initial assay results are expected
in October.
Managing Director Gary
Brabham said ?These 1 x 2 kilometre step-out holes represent a
bold test of Beyondie Bluff and the size of the potential prize makes this a
must-do program for De Grey.?
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For further information:
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Gary Brabham
De Grey Mining Limited
Ph: +61 8 9285 7500
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Figure
1 ? Beyondie Bluff zinc-silver results and planned RC drilling.
Figure
2 ? Beyondie Bluff conceptual exploration model
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