De Grey Mining Limited (ASX: DEG) has been granted the Mining Lease for the Hemi Gold Project by the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS).
The newly granted Mining Lease (M47/1628) covers the Hemi deposits, proposed mining area and processing plant site.
The granting of the Mining Lease for Hemi represents an important milestone for the company and de-risking of the Project on the path toward development and production. This important milestone follows the previously announced signing of a Mining Agreement with the Kariyarra People in December 2022.
In addition to Hemi, mining leases have to date been granted over six of the seven Regional deposits, including Wingina, Amanda, Mt Berghaus, Calvert, Withnell and Mallina.
The mining leases granted cover all De Grey’s current 9.5Moz Hemi Mineral Resource and approximately 95% of the Company’s current Global Mineral Resource of 11.7Moz. Other mining leases now also cover the Hemi Regional deposits. The new mining leases have been granted for an initial term of 21 years.
The grant of the Hemi Mining Lease is another significant milestone for De Grey and further demonstrates the company’s systematic approach to de-risking the Hemi Gold Project,” Managing Director, Glenn Jardine, said.
“For De Grey shareholders and potential financiers this is a critical approval on the pathway to bringing Hemi into production. We are committed to ensuring the project creates sustainable long-term benefits to stakeholders and look forward to updating our investors with the outcomes of the Definitive Feasibility Study for Hemi in the coming weeks.”
