3 ASX Gold companies to Maximise gains

De Grey Mining Limited, continues to test for extensions to known mineralisation

TEAM VEYE | 06 OCT 2020 | ASX – DEG

De Grey Mining Limited (ASX: DEG)

Brolga mineralisation extends north towards Aquila and northeast towards Scooby Zones

De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) on 21 August 2020 provided the following drilling update for the Brolga Zone at the Hemi Gold Discovery, located approximately 60km south of Port Hedland in Western Australia.


• Aircore drilling intersects mineralisation 320m to the northeast of Brolga trending to Scooby:

− 17m @ 1.4 g/t Au from 64m in BWAC847
− 4m @ 3.3g/t Au from 44m in BWAC846

(Chart source: TradingView)

  • RC drilling extends mineralisation north of Brolga: 

− HERC206 

  • 40m @ 2.0g/t Au from 36m 
  • 30m @ 1.6g/t Au from 101m 
  • 5m @ 2.8g/t Au from 142m 

− HERC209 

  • 12m @ 2.9 g/t Au from 36m 
  • Metallurgical diamond holes at Brolga returned strong results including HEDD004 with a broad interval at a 0.3g/t Au cut-off grade of 150m @ 1.5g/t Au including the following intervals at a 0.5g/t Au cut-off grade of: 
  • 0m @ 2.2g/t Au from 47.0m 
  • 8m @ 1.8g/t Au from 117.0m 
  • 0m @ 2.1g/t Au from 151m 
  • 8m @ 0.9 g/t Au from 170.2m 
  • RC drilling on 80m line spacing south of Brolga has intersected anomalous mineralisation in intrusive over a strike length of 1km. Intersections include: 

− 19m @ 1.2g/t Au from 38m in HERC166 (Data Source – Company Reports)

Veye’s Take

De Grey continues to test for extensions to known mineralisation around Hemi using aircore and RC drilling. Aircore drilling had intersected new mineralisation approximately 320 metres north east of Brolga. This was along the structural corridor heading toward Scooby. RC drilling had succeeded in identifying extensions to the north of Brolga, heading toward Aquila. The rig combination at Hemi was allowing it to locate near surface extensions and then look for depth extensions with the diamond rigs. This combination was working successfully toward its strategic goal of making Hemi a Tier 1 scale deposit and finding an additional upside nearby. After a brief rangebound movement, the stock has broken on the upside. It is moving above all MAs. It can have the potential of moving very strongly in the near to medium term. Veye recommends a “Buy” on “De Grey Mining Limited” at the current price of $1.25


Bulletin Resources Limited, increasing the potential for further gold mineralisation

TEAM VEYE | 06 OCT 2020 | ASX – BNR

Bulletin Resources Limited (ASX: BNR)

Better Gold Grades Confirmed From 1 Metre Splits Lake Rebecca Gold Project

Bulletin Resources Limited (ASX: BNR) (“Bulletin”, “BNR”) on 2 July 2020 advised final 1m split assay results from its recent RC drilling program at its Lake Rebecca gold project (BNR 80%; MAT 20%), 150km east north-east of Kalgoorlie, Western Australia. Bulletin’s Lake Rebecca gold project is immediately along strike of Apollo Consolidated Limited’s (“Apollo”; ASX: AOP) 1.03M oz Rebecca gold project (refer ASX: AOP announcement dated 10 February 2020).

(Chart source: TradingView)


  • 1m assay results confirm higher grade gold zones within broader anomalous gold intercepts, including: 

1m at 4.69 g/t Au from 74m 

1m at 2.54 g/t Au from 66m 

1m at 2.30 g/t Au from 149m 

5m at 1.12 g/t Au from 93m 

  • RC drilling was an early stage and widely spaced. Infill and extension drilling is planned to determine the extent of the Rebecca gold mineralisation trend which remains open to the NW 
  • Multiple gold trends were identified which increases the potential for further gold mineralisation within the greater Lake Rebecca project area 
  • Targeting review of entire 576km2 Bulletin’s Lake Rebecca Project area underway including planning for a drill program on Lake Rebecca itself.

Drilling Confirms Rebecca Gold Trend Extends 600m Into Bulletin’s Lake Rebecca Gold Project

Bulletin Resources Limited on 18 June 2020 advised results from the recent drilling program at its Lake Rebecca gold project (BNR 80%; MAT 20%), 150km east north-east of Kalgoorlie, Western Australia.


  • Wide spaced drilling confirms gold mineralisation extends from Apollo Consolidated Limited’s Rebecca gold deposit at least 600m along strike into Bulletin’s Lake Rebecca gold project 
  • The Rebecca gold mineralisation trend remains open to the northwest with potential to increase the 600m strike extent (Data Source – Company Reports)


Veye’s Take

Bulletin is extremely energised by the results of this initial explorative drill program, which confirms its belief that its neighbour’s gold trend does in fact extend well into Bulletin’s ground. The identification of another separate gold trend reinforces its view that the Lake Rebecca gold project does offer an excellent opportunity to host gold mineralisation in addition to the Rebecca gold trend. Bulletin’s recent expansion of its holding in the Lake Rebecca area confirms the view that there are additional gold targets in the tenement package. On the long term charts, the stock is maintaining its trend. It is trading above its strong support at $0.059 and also above 5MA and 50 MA. Protecting $0.080 it can have the potential of surpassing earlier highs also. “Speculative Buy” was given to “Bulletin Resources Limited” at the price of $0.045 on 7 August 2018. It has already grown by more than 77% in less than 2 years till now. Veye maintains a “Buy” on “Bulletin Resources Limited” at the current price of $0.068

Marmota Limited, focusing on primary mineralisation extensions

TEAM VEYE | 06 OCT 2020 |ASX – MEU

Marmota Limited (ASX: MEU)

Drilling to Commence

Marmota Limited (ASX: MEU) had reported on 8 April 2020 the outstanding high-grade intersections from the first 2020 drilling at Marmota’s 100%-owned gold discovery at Aurora Tank, including intersections over 1m of 74 g/t gold (from 64m downhole).

Marmota on 22 June 2020 announced that: RC Drilling was due to commence in 3 weeks (around mid-July).

Marmota setting-up semi-permanent camp

(Chart source: TradingView)

As Marmota transitions towards a pathway to production at its Aurora Tank gold discovery, Marmota Limited (ASX: MEU) on 18 June 2020 announced that:

  • Marmota is setting up a semi-permanent camp facility at its Aurora Tank gold discovery 
  • Camp includes: multiple sleeping quarters, separate kitchen & separate management office 
  • First stage: 5 donga units are currently being prepped for the move to Aurora Tank 
  • Environmental PEPR for the Aurora Tank camp has been approved

Uranium Asset – Strategic Review underway


Given Marmota’s present focus and success in making new gold discoveries at Aurora Tank, newer shareholders may be unaware that: 

  1. Marmota started out as a successful uranium explorer 
  2. Marmota has a substantial Uranium JORC resource at Junction Dam 
  3. Junction Dam is strategically situated immediately adjacent to the Boss (ASX: BOE) Honeymoon uranium mine and tenement – one of just 

4 permitted uranium mines in Australia 4. By the end of 2014, Marmota spent over A$8 million developing its uranium project [ ASX: MEU 29 Sept 2014] 

  1. Marmota owns 100% of the uranium rights at Junction Dam 
  2. Marmota has not been active on uranium since 2014 (Data Source – Company Reports)

Veye’s Take

Marmota is setting up a semi-permanent camp at Aurora Tank to provide critical infrastructure. It enables Marmota to expedite the operations pathway at its Aurora Tank gold discovery. Recent tests of high-grade gold at Aurora Tank found that gold grains collected at 38m to 39m downhole on the NW flank were predominantly primary mineralisation. This suggests their host mineralised lodes can be expected to geologically continue to a depth below the zone currently drilled. This is Marmota’s largest-ever RC drill program at Aurora Tank and with a special focus on primary mineralisation extensions. It is shaping up as one of its most interesting, varied, and exciting drill programs to date. The stock is following its uptrend. It may face a little retracement in between but above $0.061 it can have the potential of a significant breakout. Veye recommends a “Speculative Buy” on “Marmota Limited” at the current price of $0.049 



Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. 

ACN 623 120 865 | ABN 58 623 120 865
Copyrights© 2018 veye