re: drilling shortly get set-miningnews.net De Grey bullish on Orchard Well
Ben Sharples
Tuesday, July 05, 2005
DE GREY Mining says its newly acquired Orchard Well tenement at its Turner River gold project has the potential to prove up a significant greenfields discovery, with a drill campaign set to start at the tenement within four weeks.
Soil sampling of the Orchard Well tenement identified gold anomalies up to 30.9 grams per tonne of gold over a 12km strike length of the Tabba Tabba Shear, representing higher grades than the comparable anomalies located directly above the 200,000 ounce Wingina Well gold deposit.
The company has allocated $6 million to exploration for the coming fiscal year.
De Grey's portfolio includes the Three Kings platinum joint venture with Impala Platinum, which sits along the Mallina Shear in the Turner River province; the Beyondie basemetals and gold project 160km south of Newman, and the Horans gold project located just outside of Kalgoorlie.
Shares in De Grey gained 4.3% yesterday, and were up another 4.1% in morning trade at 25.5c.
Click here to read the rest of today's news stories.
drilling shortly get set, page-3
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