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COVER
Maiden resource has
Hemi revving
by Dominic Piper
A maiden resource which immediately makes the project the
largest undeveloped deposit in Australia – as first impressions
go, De Grey Mining Ltd’s opening gambit is comparable to Elvis
Presley in 1954, Darth Vader in 1977 and Mike Tyson in 1986.
e Grey’s June announcement of the inaugural resource gold resource ever in Western Australia,” De Grey technical
Dstatement for its Hemi gold discovery in the Pilbara was director Andy Beckwith tells GMJ. “And, even right from the
highly anticipated and, at 192.4mt @ 1.1 g/t for 6.8 moz gold, start investors automatically thought it would be mined.”
did not disappoint. That such a resource could be defined at As Beckwith confirms, expectations were high from the
a cost of $8.50/oz (against an industry average of $20/oz) start. By February 2020, there was wide agreement among
and within just 16 months of discovery makes it all the more resource analysts that Hemi would host at least 2 moz gold.
remarkable. By May, those estimates were up to 4 moz. Although the
“A lot of people are already saying it is the largest maiden discovery was still undoubtedly in its early days, a rising
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