The record gold price and Northern Star Resources’ (ASX:NST) looming $5 billion acquisition of De Grey Mining (ASXEG) has shone a spotlight on the Pilbara’s gold potential.The Pilbara is renowned for its world-class iron ore deposits and has more recently become a lithium hot spot.While there are existing gold mines in the region, it was De Grey’s late 2019 discovery of the Hemi deposit that really cemented its gold potential.Hemi and the surrounding deposits within De Grey’s Mallina project have since grown to a resource of 13.6 million ounces of gold at 1.4 grams per tonne.
Croydon Project
GOLD The Croydon project is located in the Mallina Basin between Karratha and Port Hedland. The region contains De Grey Mining’s 10.5Moz Hemi discovery.The Mallina Basin has the potential to emerge as a major gold province and CZR’s Croydon project covers approximately 40km strike of the Mallina Basin, about 50km south-east of Hemi.Geology and ProspectivityCZR completed a ground-based gravity survey, targeting large intrusions that may host gold mineralisation similar to Hemi.Initial modelling has been completed on high priority targets, with gravity inversion modelling completed on the Top Camp prospect and Eastern Targets (Murph-Martin).Top Camp: Gravity anomaly detected below gold mineralisation at Top Camp - priority target for intrusion related gold mineralisation.Recent RC and diamond drilling intersected primary gold mineralisation at the Top Camp prospect, including:8m at 10.2g/t Au from 135m in CRC007;2m at 22g/t Au from 7m in CRC021;28m at 0.6g/t Au from 147m in CRC022Bottom Camp: 1km geochemical anomaly, similar to Top Camp, within a folded limb of Mallina sediments and complex gravity response.Eastern Zone: Gravity anomalies identified along a NE trend, in a similar geological setting to Hemi. Currently limited surface geochemistry (due to sand cover) and no drilling.
CZR Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
EG) has shone a spotlight on the Pilbara’s gold potential.The Pilbara is renowned for its world-class iron ore deposits and has more recently become a lithium hot spot.While there are existing gold mines in the region, it was De Grey’s late 2019 discovery of the Hemi deposit that really cemented its gold potential.Hemi and the surrounding deposits within De Grey’s Mallina project have since grown to a resource of 13.6 million ounces of gold at 1.4 grams per tonne.
(20min delay)