De Grey Mining DEG is my holding for the conglomerate gold rush in the North West of Western Australia. The stock has been currently trading in a holding pattern that indicates that sophisticated investors are accumulating. Expect Novo Resources to be releasing a 3D conglomerate mapping update this week that will impact all the exploration plays in the area. My snapshot notes of De Grey can be found below.
* Novo conglomerate Updates * Q4 2017 US/Canada Roadshow DEC 17 * Blue Moon first-ever drilling - underway * Q1 2018 Toweranna final 1m drilling assays * Blue Moon drilling assays * King Col lithium soil sampling (5km strike) and diamond drilling * Toweranna and Blue Moon Phase 2 RC/Diamond drilling commencement * Conglomerate Gold Target heritage surveys * Loudens - Trench and bulk sampling commencement * Farno McMahon/Van Maris geological mapping, geo chem and heritage surveys * Q2 2018 Toweranna and Blue Moon continued RC and DD drilling results * Aircore/RAB - Farno McMahon, Van Maris Tabba Tabba Shear commencing * Conglomerate Gold trenching and bulk sampling results * Metallurgical test work results and proposed final plant design
Conglomerate Gold
• Heritage Clearance • Ongoing Orientation Sampling • Reconnaissance Level Soil Sampling, Mapping, Metal Detecting • Geophysics – trial seismic to detect basement of conglomerates • Continue to monitor and learn from Novo/Artemis releases – leading the way!
Once heritage clearance achieved • Trenching for geology and bulk sampling • Drilling and/or adits
Highlights --------------- * 1.2Moz GOLD resources and growing * Conglomerate Gold Targets 3 target with nuggets * Positive Scoping Study (PEA) with significant capacity to improve * Large pipeline of 41 untested gold anomalies > 200 kms of mineralised shear zone 1,800km2 * Large LITHIUM target 7.5km long target with new discovery drill intercep
Corporate Snapshot ------------------------------ Shares on issue: 284M Listed Options on issue: 53M Unlisted Options: 25M Cash (Sept 2017): AUD $7.3 million
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De Grey Mining DEG Still locked in that boxed accumulation zone. Novo update is the next news catalyst - hopefully released tonight so it can trade on the news tomorrow before the break