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Current Projects - Summary
De Grey Mining is actively exploring for base metals, gold and uranium in the Pilbara Region of WA and the Mt Isa Region of Queensland, and for epithermal gold-silver deposits in Santa Cruz Province, Argentina.
De Grey has retained 100% of the 220,000oz Wingina Well gold resource and commenced a farm out of up to 75% of the gold and base metal projects at Turner River Project near Port Hedland in order to secure minimum exploration funding commitments of $1 million and $700,000, respectively, over two years.
The Company reached agreement with Teck Australia Pty Ltd in September 2009 that allows it to earn 100% interest in EPM14142, Apex Project , located north of Cloncurry in Northwest Queensland. The EPM covers an undrilled IOCG target informally called the Apex Magnetic Complex, located 55 kilometres north of Xstrata's Ernest Henry copper-gold mine. Applications have also been lodged for an additional 158km2 of ground covering other geophysical targets in the same region.
De Grey has also amassed nearly 5000km2 of ground in the Paterson region of Western Australia, with exploration targets defined for Kintyre-style uranium and Nifty-style copper mineralisation in this frontier exploration area. Recent pre-competitive government geophysical surveys are changing interpretations of the geological architecture of the region and revealing direct exploration targets.
By staking, and farm-in and option agreements, De Grey has secured exploration rights over nearly 2,200km2 in the Deseado Massif of Santa Cruz Province, Argentina. The Deseado has recently been recognised as one of the world's premier regions of low-sulphidation epithermal Au-Ag mineralisation. Mineral resources and reserves discovered since 1990 total about 11.5Moz Au and 245Moz Ag.
The Company has significant exposure to a magnetite iron ore project through its priority application for a 378km2 area at Fortescue Island, off Cape Preston in Western Australia. The tenement covers the northern strike extensions of the Brockman Iron Formation, the unit that hosts the combined 60 to 100 billion tonnes of magnetite iron resources owned by Citic Pacific Mining, Australasian Resources Ltd and Mineralogy Pty Ltd.
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