From Discovery to $5b: The Untold Story Behind Hemi with Andy Beckwith

Описание: Host John Forwood Chief Investment Officer of the Lowell Resources Fund (ASX:LRT) welcomed viewers to the August 2025 session of Drilling Deeper. Our guest speaker was Andy Beckwith, key figure in the Hemi gold discovery - one of Australia’s largest recent gold finds.

The session was structured into:
1. Market update, with a focus on M&A in gold.
2. Discussion with Andy on the Hemi discovery and De Grey’s journey.
3. What Andy is working on post-De Grey.
4. Audience Q&A.

Andy shared the story behind one of Australia’s most significant gold discoveries in decades - Hemi, in WA’s Pilbara region.

Despite the widespread belief that the Pilbara lacked large gold systems, the De Grey team saw potential in overlooked data and challenging cover sequences. Early exploration had focused on narrow shear zones, with limited success due to transported cover and technical drilling failures.

The breakthrough came in 2019. While testing geophysics lines, De Grey chose to drill across a subtle anomaly - an area previously untested due to difficult drilling . The drill rig hit significant intrusion-hosted gold mineralization, unlike anything previously seen in the region. This led to the discovery of Hemi, a wide (50-400m), bulk-tonnage gold system. Hemi remains open at depth and along strike, with continued potential at prospects.

KEY SUCCESS FACTORS REVEALED INCLUDED:

• Re-evaluating old data and validating prior work.
• Geological conviction in the potential of covered terrain and deep structures.
• Sufficient drilling capacity
• Fast drilling execution - over 1.5 million metres drilled rapidly.
• Use of handheld XRF to track arsenic pathfinders and steer real-time drilling.
• Strong support from the board and shareholders, including Chinese partners.
• Whole-team involvement, with staff from reception to drillers incentivized.

The discovery happened just as COVID-19 hit, but mining's essential status in WA allowed operations to continue. De Grey’s success transformed its valuation and the perception of Pilbara’s gold potential.

Andy’s experience - from the world-class Hemi discovery to leading new gold ventures - offers deep insight into what makes exploration success possible. His key takeaways and hard-won lessons include the following:

💡 KEY TAKEAWAYS

 Persistence and belief in underexplored areas were pivotal at Hemi.
 Intrusion-hosted systems are game changers vs. narrow shear zones.
 Cover is not a deterrent - but it demands technical skill and patience.
 Success came from team cohesion, fast decision-making, and clear exploration models.
 “You can’t find anything unless you’re drilling.”
 “People + good projects = money.”

💡 KEY LESSONS LEARNED

1. People First: The Right Team is Everything
2. Good Projects, Backed by Good Data
3. Be Technically Persistent
4. Structure + Scale = Opportunity
5. Focus, Speed & Flexibility
6. Geological Commitment Beats Market Trends
7. Strategic Communication & Confidence
8. You Must Drill to Discover
9. Every Day is a New Day

Andy’s story highlights the value of geological vision, drilling discipline, and team empowerment. From Pilbara's unlikely discovery to monetizing a high-grade niche asset in Leonora, it’s a case study in Australian gold exploration done right.

Plus, we also heard about his background at North Flinders Mines and Anglogold Ashanti, and current projects at Carnavale Resources and the Kookynie Gold discovery.

This interview and update is not to be taken as financial advice. Please consult a financial professional before making any investment decision.