DEG - De Grey Mining

DEG announcement just out!
Copper Intercepts at Beyondie

Slowly building a company maker portfolio. As in above chart, looks like a double bottom to rebound from if more good announcements follow maybe.

anyone else following this one?

http://imagesignal.comsec.com.au/asxdata/20070801/pdf/00744693.pdf

but the sp hasn't really moved much. any thoughts?

-merry said:

anyone else following this one?

http://imagesignal.comsec.com.au/asxdata/20070801/pdf/00744693.pdf

but the sp hasn't really moved much. any thoughts?

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Again, more excellent results, sort of swamped by other minor matters today

i don't really understand why the sp is going down when they've got so much going for them and the cash in the bank to back it up along with management who seems to know what they're doing =/ maybe it hasn't received enough attention yet

I emailed the company a week or so ago and got a very prompt and full reply from Darren Townsend (MD). I expressed the opinion that the sp would do nothing until a JORC resource was calculated. He agreed with me, but said that they didn't want to spend money to prove up a resource until they were sure of which prospect was the best one to be drilling out to JORC status. He said that he thought at least one, if not two more drilling programmes would be needed before they were in a position to make a decision on the best prospect to concentrate on.

If you have a long term outlook then I'd say it's a good one to accumulate while others are panicking or looking elsewhere. You could have done well buying Vulcan (VCN) at 20c 6 months ago for example.

I agree Exgeo, all they have done so far is kick some rocks around, although some very promising rocks. The Co would be aware of the fact of spending money wisely, but are in the fortunate position of possibly being able to have the choice of which tenement to mine in the hopefully not too distant future.

It certainly has been a dud as far as share price goes, but their fundamentals continue to be enhanced with every drill hole and announcement, so I am hoping for a re-rating in more favourable market conditions?

Well, it looks to me that if and when they finally get around to doing a drillout to JORC status, the grade will certainly be there (some of the drilling results have been excellent), it's just a matter of will there be enough tonnes to support a mine? My money is on "yes" anyway. Prairie Downs PDZ shows what can happen when one of these tiddlers looks like it's on to something economic.

do you know if the 203,300 oz of gold that they say they have at wingina well is JORC certified? Cause at the moment they say they have a gold resource base of 203,300 oz at Wingina Well

Following the successful discovery of the Wingina Well gold mineralisation in December 2003, the company announced in October 2004 a JORC compliant resource estimate of 203,300 ounces of gold for Wingina Well.

http://www.degreymining.com.au/TurnerRiver.asp

Anyone have any idea at all when they'll be looking at production? it seems like all they've been doing the past 5 years is exploring, exploring and more exploring. If they know theres something in the ground why dont they start up production and use the revenue from that to fund future explorations instead of constantly raising capital from the market and diluting the shareholder's stake in the coy. On a side note, anyone have any idea how long it takes to drill say 10m?

There was movement at the station..... Something happening here on an otherwise slow day for gold stocks, DEG spurting higher. A definate but subtle weekly up trend emerging since the low in August, supported by volume. Anyone know anything the rest of us should know?

Cracker of a chart both day and week and look at the vol spikes on the up days and weeks ,,, some assay reports and other results this month isnt there??? preety good strong and experienced managment behind this one and in the back ground . may go some were this time has had a few previous starts maby a real start this time and not a false one..

danc said:

Cracker of a chart both day and week and look at the vol spikes on the up days and weeks ,,, some assay reports and other results this month isnt there??? preety good strong and experienced managment behind this one and in the back ground . may go some were this time has had a few previous starts maby a real start this time and not a false one..

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Well, it did fade again, but this time after a company called Karari Pty Ltd gave notice that it had become a major shareholder with nearly 7.2% of the company, buying since early October, so that explains the rise. Back to consolidation again!

It used to be Uranium, but now it's iron ore, & DEG might have found a bit.

De Grey Mining Limited (ASX code: DEG) is pleased to advise significant high-grade
iron assays have been received from reconnaissance rock sampling completed at Mt
Dove.

Mt Dove is located close to the Great Northern Highway, 69 kilometres south of Port
Hedland. It comprises a prominent hill of hematitic banded iron formation (BIF)
structurally thickened by folding and faulting.

Managing Director Gary Brabham said “Considering the current ‘iron ore rush’ in the
Pilbara, Mt Dove could represent some significant value to De Grey.”

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They just got an iron ore tennant in the Pilbara region... Looks like it could be a turnaround for DEG

This does look promising after the disappointing efforts so far. Mt Dove is looking more viable as well. Maybe time for DEG to diversify into the hot iron ore sector and maybe another country for better gold prospects? Perhaps 12c is now too cheap with the potential in a well established iron ore province with infrastructure close by. It should at least get the day traders into a frenzy for a few days.

DE GREY WINS BALLOT FOR IRON TENEMENT, PILBARA
De Grey Mining Limited (ASX code: DEG) is pleased to advise that it has been
awarded first priority to application E45/3188 in a ballot of eight applicants. De Grey
was successful over several iron mining and exploration companies in the region
whose tenements surround the application.

The highly sought after 15.5km²
area lies 104km south of Port Hedland and covers a
1,600m strike length of a known channel iron deposit that straddles the Great
Northern Highway (Figure 1). The application is also strategically placed between
other channel iron deposits 17km to the east, 2.5km to the west and 4.5km to the
north.

Considering the high level of activity in iron exploration and mining in the Pilbara and
the proximity to infrastructure this iron mineralisation represents significant value to
De Grey.

Managing Director Gary Brabham said “This ground was picked up as a result of our
diligent monitoring of tenements in the Pilbara. We will immediately assess the
known iron deposits to evaluate their potential value and determine how De Grey
may best realise that value”.

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DEG still want's to be an iron ore producer?

De Grey Mining Limited (ASX: DEG) is pleased to advise that it is seeking to secure
title over 1,292 square kilometres of tenements with geology prospective for iron
mineralisation in shallow waters west of Cape Preston in the Pilbara region of
Western Australia.

Sounds like a similair project to that of VEC-hasnt done their sp any harm.Havent read this through but if its anything like VECs where they talk about 250Mt(not all iron though) of sediment being dumped annually so unlike a traditional IO resource whereby once its dug up its done this may be sustainable.Check out VECs ann for more info on what this may hold for DEG

Vein Breccia Zone Drill Results
• Drillhole SM-12-01 returns significant results including 0.45m @ 0.53% Zn and 95ppb Au from 118.50m
• Drillhole SM-12-02 returns significant results including 1m @ 2.16% Zn from 82.80m, 1m @ 329ppb Au and 14g/t Ag from 186.80m and 1m @ 59g/t Ag from 219.80m
• Results confirm that drilling at the Vein Breccia Zone has intersected a low sulphidation epithermal system
• Excellent potential for the Vein Breccia Zone to host Au-Ag mineralisation at depth

Vein Breccia Target - Background
The Vein Breccia Zone is located in the eastern portion of the Sierra Morena Project, Santa Cruz Province in Argentina. De Grey Mining Ltd has been exploring the project since 2010 and has completed rock chip and soil sampling, geological mapping and diamond drilling.

The Vein Breccia Target is a zone of low temperature quartz veining, brecciation and alteration developed along a >800m long north-west trending duplex fault system, with north-south striking extensional faults developed within this overall north-west oriented fault system. A large proportion of the area is covered by a thin layer of recent volcanic ash, which has limited geological mapping and sampling generally to the crests of hills.

Sampling of the area has located numerous vein and vein float occurrences with rock samples returning up to 11.75g/t Au and 96.2g/t Ag1 accompanied by significant arsenic, lead and zinc over an area of approximately 750 metres by 800 metres (Figure 1). These high metal grades appear to be associated with both the northwest striking faults and northsouth striking extensional faults.

With the encouraging 1st results from a limited drilling program, the company plans to continue exploration at the Vein Breccia Zone in the 2012-2013 field season. Initially the company will complete trenching and further geological mapping in the area to better understand structural controls on mineralisation, and then proposes a Gradient array IP program prior to further drilling. This next stage of drilling will aim to test the deeper parts of the epithermal system (100-400m below surface) which typically contain the Au-Ag rich zones.


SIERRA MORENA PROJECT – ROCK CHIP SAMPLES TO 23g/t Au and 3,240g/t Ag
At the Eastern Zone, rock chip samples returned up to 23.3g/t Au and 3,240g/t Ag. The zone consists of partially outcropping quartz veining and silicification with coincident Au-Ag- As-Hg-Sb anomalism (in soils) over a strike distance of approximately 725 metres.

The Western Zone consists of partially outcropping quartz veining and siliceous breccia with coincident Au-Ag-As-Hg-Sb anomalism (in soils) over a strike distance of more than 1.2 kilometres. Rock chip samples have returned up to 7.2g/t Au and 755g/t Ag.

... and the next Big Breakthrough comes from the Pilbara:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01900143