Current Projects - Summary

De Grey Mining is actively exploring for base metals, gold, precious metals and iron ore in the Pilbara and Gascogne Regions of WA.

De Grey's wholly owned tenements cover 75km strike length of the Tabba Tabba Greenstone Belt at Turner River, near Port Hedland, and 2,445km2 of the Bangemall Basin and the northern margin of the Marymia Inlier at the Beyondie Project.

The Company also has a number of joint venture agreements with several companies over prospective projects in close proximity to De Grey's current landholdings.

Base and Precious Metals

De Grey Mining made the virgin discovery of silver-zinc-lead-gold rich Volcanogenic Massive Sulphide (VMS) mineralisation at Turner River in 2006. Gold exploration at Turner River also continues to return encouraging results from prospects that have the potential to significantly add to the current resource base of 203,000oz gold at Wingina Well.

Through 2007/08 the Company has pursued a strategy of increasing its footprint in the Pilbara by entering into joint ventures over targeted, strategic landholdings. At Yandeyarra, De Grey is applying modern exploration techniques and fresh geological thinking, drawing on the discovery experience gained at Turner River, to evaluate the potential for economic VMS-style base metal and orogenic gold mineralisation. Early stage results have been encouraging and follow-up programs are working up priority drill targets.

At the Yule JV project, geological reconnaissance at Tambourah has confirmed the presence of gossanous felsic volcanic rocks similar to those that host the Panorama Project copper-zinc deposits owned by CBH Resources Ltd, located 70km to the north. Several gold targets are also being defined in preparation for drill testing.

De Grey's current Pilbara Base and Precious Metal tenure, September 2008

De Grey Mining is actively exploring for Base and Precious Metals at its Beyondie Project. The current target is a large scale SEDEX Zn system with widespread base metal and silver anomalism.

 
De Grey's Beyondie Base and Precious Metal tenure, September 2008

De Grey's current Base and Precious Metal prospect areas are;

Pilbara Iron Assets

De Grey Mining was awarded first priority to a 15.5km² tenement application (E45/3188), located 104km south of Port Hedland. The application covers 1.6km length of known detrital iron deposits.

De Grey has secured a significant new conceptual exploration opportunity for offshore iron ore exploration in a 1300km2 area of shallow water at Fortescue Island, off Cape Preston.

The Company has also entered into a Joint Venture with Emergent Resources Limited under which Emergent will explore for iron ore and related minerals, such as vanadium and manganese, over a portion of De Grey's Beyondie Project. The deal enables De Grey to participate in iron ore exploration at Beyondie through a free-carried interest to decision to mine. Emergent is managing exploration during the earn-in period.

De Grey's current Iron projects include;