The 259th Sydney Mining Club – Lunch
at 12:30 pm on 3 June 2021 at the Ivy Ballroom
Riding a Rocket!
How De Grey Mining took two years to be an ASX Pilbara gold Superstar.
Come and hear MD Glenn Jardine and Chairman Simon Lill describe their project and life on the burning nose of a $2bn company – ‘Australia’s fastest growing gold company’.
From a share price of $0.05 to $1.50 in 18 months is warp speed success for a gold company. De Grey’s Mallina goldfield is a new province that has also swept the attention of the gold punters and many Archaean gold explorers north from the Yilgarn into the Pilbara, a province better known for the astronomical tonnes of iron it exports and the money it courses through Australia’s economic veins.
Lying just a few tens of kilometres from Port Headland and right next Route 1, the Mallina field has seven mineralised intrusives in a corridor 150km long. De Grey hit the core of the intrusion-hosted Hemi deposit first shot. It is shallow, open cuttable, has an indicated gold recovery of 93%, is surrounded by tantalising targets, and has some juicy sweet spots. Like 14m @ 21.2g/t Au from 50m. What’s not to like.
Hemi will add to the 2.2Moz the Company has under its belt across the Mallina field. In just over 12 months, 137,000 m of drilling has been completed – a few hundred metres a day. The rocks are time equivalents of the Yilgarn province in WA’s south, the well-known host of Kalgoorlie and so the origin of so much of the State’s gold wealth. New eyes, new thinking and lots of drill rigs.