Ann: De Grey meets initial Egina Gold Project commitment, page-9

"continued an aggressive exploration program at the Becher project"

"drilling at the Heckmair, Irvine, Lowe and Whillans prospects"

"Egina is located southwest of and in close proximity to De Grey’s 12.7 million ounce Hemi gold project"

"Egina tenements are considered by De Grey and Novo to be highly prospective for significant intrusion-related gold deposits"

"share similar attributes to the Hemi deposit"

"Novo’s approximately 60,000 metres of AC and RC drilling completed in 2023"

"De Grey has completed 34,180 metres of AC drilling and 9,129 metres of RC drilling to date across the four main prospects"

"anomalous gold results during the initial expenditure period include 6 metres @ 1.2 grammes per tonne gold in MSRC0068 at Heckmair"

"4 metres @ 2.1 grammes per tonne gold in MSAC0989 at Irvine"

"8 metres @ 4.7 grammes per tonne gold in MSRC0031 at Lowe"

"De Grey has now satisfied its initial A$7 million minimum expenditure commitment over a 15-month period on exploration at the Egina gold project"

"now has the right to earn a 50% joint venture interest in the Egina tenements by spending an additional A$18 million through to June 30, 2027"

"at which time a joint venture will be formed with customary funding and dilution rights applied to both De Grey and Novo"

"combined Egina gold project and De Grey’s tenure forms a strategically significant land position in the Mallina Basin covering approximately 2,500 square kilometres"

"forward programs by De Grey in 2024 will include follow-up targeted RC and diamond drilling"

https://mining.beehiiv.com/p/jim-s-mining-letter-october-10-2024

Worth reading