De Grey Mining

Published : October 07th, 2016

High Grade Zinc mineralisation defined at Tabba Tabba

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Keywords :   Diamond | Georgia | Gold | K Street | Lead | Silver | Target | Zinc |

High Grade Zinc mineralisation defined at Tabba Tabba

De Grey Mining Ltd

ASX Announcement

12 September 2016

ASX Code DEG

ABN 65 094 206 292

COMPANY DIRECTORS

Simon Lill

Executive Chairman

Davide Bosio

Non-executive Director

Steve Morris

Non-executive Director

Craig Nelmes

Company Secretary/CFO

CONTACT DETAILS

Principal & Registered Office Level 2, Suite 9

389 Oxford Street

Mt Hawthorn WA 6016

PO Box 281

Mt Hawthorn WA 6016 www.degreymining.com.au [email protected]

T +61 8 9381 4108

F +61 8 9381 6761

High Grade Zinc mineralisation defined at Tabba Tabba

Highlights

  • High grade zinc-lead-silver rich VMS mineralisation defined at Tabba Tabba prospect.

  • Mineralisation occurs from surface and remains open at depth.

  • Mineralisation coincident with IP anomaly which remains inadequately drill tested, with further parallel anomalies untested.

  • Significant results from the 12-hole program include:

    HoleID

    From (m)

    Interval (m)

    Au g/t

    Ag g/t

    Cu

    %

    Pb

    %

    Zn

    %

    In Situ Grade

    ZnEq %**

    TTRC027

    including

    24

    9

    0.27

    58.7

    0.22

    1.08

    2.68

    6.78

    24

    2

    0.71

    158.5

    0.27

    3.60

    8.06

    18.90

    TTRC028

    including

    56

    9

    0.34

    90.1

    0.17

    1.57

    5.56

    11.16

    56

    3

    0.91

    216.7

    0.31

    3.94

    13.62

    27.22

    TTRC029

    including

    29

    7

    0.13

    60.1

    0.10

    1.03

    4.55

    8.01

    31

    4

    0.18

    95.6

    0.13

    1.60

    6.96

    12.28

  • Results from the Wingina Deeps Diamond drilling are currently being analysed and expected shortly.

De Grey Executive Chairman Simon Lill said:

"Tabba Tabba is yet another example of the VMS potential along the 25km of prospective Tabba Tabba Greenstone Belt. These deposits are known to cluster. With respect to the Discovery and Orchard Tank prospects, the company has commissioned resource upgrades. Our recent time on the ground has also highlighted several priority targets also requiring assessment along this extensive corridor."

Turner River - Unlocking Shareholder Value

Tabba Tabba

De Grey Mining Ltd (ASX: DEG, "De Grey", "Company") is pleased to advise that the final 1m sample results for Tabba Tabba (Au-Ag-Zn-Pb) prospect have now been received and assessed.

The Tabba Tabba VMS prospect is located along the Tabba Tabba Greenstone Belt in the eastern portion of the Turner River Project (Fig 1), approximately 40km northeast of the Wingina Gold Deposit. The prospect lies approximately 15km along strike from De Grey's two 100% owned VMS deposits Orchard Tank (1.7Mt @ 0.5g/t Au, 78.6g/t Ag, 0.99% Pb, 2.38% Zn - JORC 2012) and Discovery (1.2Mt @ 0.8g/t Au, 87.0g/t Ag, 0.94% Pb, 2.34% Zn - JORC 2012) plus other encouraging VMS prospects Hakea and Cassia.

The RC drilling program at Tabba Tabba targeted infill drilling of the known VMS style mineralisation associated with a 1st priority IP anomaly (Figure 2) to a depth of approximately 50m depth on 40m spaced sections. Testing of this IP anomaly approximately 500m along strike to the southeast. A total of 12 holes were completed for an advance of 772m. Deeper previous drilling partial tests the mineralisation to 100m depth. Initial 4m composite samples were submitted to the laboratory and detailed 1m infill sampling subsequently completed over the anomalous 4m composite zones with significant results listed in Table 1.

The infill drilling programme has been successful in defining continuity of the Zn-Ag dominant VMS style mineralisation at depth. At surface, this mineralisation occurs as a series of small thin rubbly outcrops of gossan over approximately 200m strike length. In drilling, the mineralisation dips sub-vertical and is variably weathered to approximately 20m depth. Sections are provided in Figure 3

The strongest zone of VMS style mineralisation occurs as a northeast trending zone over approximately 200m strike length with thin extensions to the northeast. Mineralisation is defined at surface by limited outcropping gossan and by drilling to approximately 100m depth.

The defined bedrock mineralisation is also coincident with a 1.3km long moderate to strong northeast trending 1st priority chargeability IP anomaly and potentially a demagnetised zone (Figure 2). Modelling of this IP target suggests the target is sub-vertical with a steep potential plunge direction over approximately 300m strike length, which correlates well with the strongest mineralisation defined in drilling.

Two additional holes (Drill holes TTRC024 and 025) were drilled approximately 500m to the south west of the known gossan area where the IP target continues. No significant results were defined in this location.

Further assessment of the IP modelling will now be undertaken to better target mineralisation in the immediate vicinity along the prospective Tabba Tabba Greenstone Belt.

Page | 2

Figure 1 Turner River Project tenement plan showing main prospects over magnetic image

Page | 3

Table 1 Tabba Tabba Prospect - Significant Zn dominant lodes (Lodes defined >0.5% Zn with internal higher grade intercepts >3.0% Zn with max 2m internal dilution)

HoleID

From

(m)

Interval

(m)

Au

g/t

Ag

g/t

Cu

%

Pb

%

Zn

%

In Situ Grade

ZnEq %**

TTRC026

14

6

0.04

4.8

0.04

0.11

0.60

1.06

22

6

0.05

10.9

0.02

0.23

1.14

1.86

53

1

0.06

9.4

0.01

0.23

0.54

1.21

TTRC027

including

19

1

0.03

29.6

0.03

0.28

0.76

2.12

24

9

0.27

58.7

0.22

1.08

2.68

6.78

24

2

0.71

158.5

0.27

3.60

8.06

18.90

TTRC028

including

48

1

0.05

10.1

0.02

0.21

0.86

1.56

56

9

0.34

90.1

0.17

1.57

5.56

11.16

56

3

0.91

216.7

0.31

3.94

13.62

27.22

TTRC028

69

2

0.34

38.0

0.95

0.29

1.39

6.09

TTRC029

including

29

7

0.13

60.1

0.10

1.03

4.55

8.01

31

4

0.18

95.6

0.13

1.60

6.96

12.28

TTRC030

30

3

0.25

29.1

0.15

0.40

1.25

3.51

TTRC035

including

53

7

0.04

28.3

0.06

0.32

1.57

3.02

56

1

0.03

20.2

0.06

0.83

3.38

5.04

HoleID

EAST (mE)

NORTH (mE)

RL (m)

Azimuth (Mag)

DIP (°)

EOH

(m)

TTRC024

697938

7708573

107

133

‐60

100

TTRC025

697915

7708602

113

133

‐60

126

TTRC026

698373

7709023

111

113

‐60

60

TTRC027

698347

7708973

112

113

‐60

48

TTRC028

698330

7708979

113

113

‐60

78

TTRC029

698337

7708930

113

113

‐60

42

TTRC030

698301

7708897

111

113

‐60

48

TTRC031

698278

7708863

111

113

‐60

30

TTRC032

698206

7708791

111

113

‐60

60

TTRC033

698176

7708801

113

113

‐60

60

TTRC034

698155

7708810

112

113

‐60

60

TTRC035

698347

7709031

112

113

‐60

60

Page | 4

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All

De Grey Mining

EXPLORATION STAGE
CODE : DEG.AX
ISIN : AU000000DEG6
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De Grey is an exploration gold and platinum company based in Australia.

De Grey holds various exploration projects in Australia.

Its main exploration properties are ORCHARD TANK, YANDEYARRA JV, BEYONDIE BASE METALS and HORANS DAM in Australia.

De Grey is listed in Australia, in Germany and in United States of America. Its market capitalisation is AU$ 50.3 millions as of today (US$ 31.0 millions, € 28.6 millions).

Its stock quote reached its lowest recent point on November 04, 2016 at AU$ 0.00, and its highest recent level on October 13, 2017 at AU$ 0.28.

De Grey has 201 300 000 shares outstanding.

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Project news of De Grey Mining
10/7/2016High Grade Zinc mineralisation defined at Tabba Tabba
9/23/2016De Grey Identifies 50 kms of Under Explored Shear Zone
10/23/2014De Grey to commence drilling at turner River Base Metals Pro...
9/15/2008(Beyondie Base Metals)Drilling Commences at Beyondie Zinc Target
Corporate news of De Grey Mining
7/27/2016Shallow High Grade VMS Au Ag Zn Pb Cu Defined at Discovery
7/12/2016RC Drilling Program completed at the Turner River Project
4/14/2016Tantalum and Lithium Potential at Turner River
12/21/2015Notification of Under subscriptions
12/21/2015Prospectus Dispatched to Shareholders
12/21/2015AGM - Results of Meeting
12/21/2015Rights Issue Completed
9/30/2015Annual Report 2015
9/30/2015Price sensitive announcement De Grey Opts Out of Diamonds Op...
8/3/2015Quarterly Report for the quarter ended 30 June 2015
11/11/2014Director Appointment - Mr. Steve Morris
11/20/2013Recommencement of Royalty Payments
6/19/2013De Grey Awarded Two Exploration Permits in NZ Tender
4/29/2013Quarterly Operations Report for 3 months to 31 March 2013
4/24/2013Argentinian Target Drilling Commenced
4/22/2013Dispatch of Prospectus
4/10/2013Renounceable Entitlement Offer Prospectus
4/9/2013Indicative Entitlement Offer Timetable
7/25/2008June Quarterly Report
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