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New drilling results indicate that the 'largest ever' gold deposit in the Pilbara may have been discovered.
New drilling results indicate that the 'largest ever' gold deposit in the Pilbara may have been discovered.

Australian company strikes gold in the Pilbara

A West Australian mining company has discovered a potentially record-breaking deposit of gold at the Mallina Gold Project, 80km south of Port Hedland.

De Grey Mining announced that its preliminary drilling at its Hemi site indicated it may be the largest-ever gold deposit in the Pilbara region, in the north-west of Western Australia.

Andy Beckwith, operations manager De Grey Mining, said drilling at two parallel sites indicated very promising results.

Andy Beckwith, De Grey Mining
Andy Beckwith, De Grey Mining
"There is potentially a 200m-wide zone – that's almost unheard of [in the Pilbara region]"
Andy Beckwith, De Grey Mining

“With the new reverse circulation drilling, there is potentially a 200m-wide zone – that's almost unheard of,” he said, adding that the site “has exceptionally wide intersections, we've got mineralisation that is very consistent, and we are just busily trying to extend them and see what we have.”

View ABC's detailed coverage »

The Mallina results led De Grey Mining’s largest shareholder, DGO Gold, to invest a further $4.75 million in the company.

De Grey chairman Simon Lill said the move was “a clear validation from DGO of their belief in De Grey’s Mallina Gold Project and, more specifically, the recent Hemi discovery, where drilling is continuing, and we are seeking to further grow its size and scale.”

The Pilbara is best known for its iron and manganese-rich deposits and is not considered a premier source of gold in Australia; each year, it produces less than half of the gold mined from the Kalgoorlie Super Pit.

At the time of publication, gold was trading at $AU2,549.64 per ounce, an increase of 38.32 per cent over last year.

 

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