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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Cameron Well | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-5-2018: Dacian Gold Ltd. announces an Exploration/Drilling Update report for its Cameron Well deposit at the Mt Morgans project. Drilling results incl. 24m @ 5.3g/t Au from 62m. Dacian Gold Ltd (ASX: DCN) (Dacian Gold or the Company) is pleased to anno | |
| Resources: | (Reserve, P+P): 18.585Mt @ 2.0g/t Au for 1.2Moz contained at Mt Morgans | |
| CP/QP: | [Overall Report]: Rohan Williams (Internal) | |
| ABSTRACT: | Dacian Gold Ltd (ASX: DCN) (Dacian Gold or the Company) is pleased to announce strong shallow and deeper drilling results which confirm the growing potential of the Cameron Well discovery at its 100%‐ owned Mt Morgans Gold Project, located 25km south‐west of Laverton in Western Australia. The new results, from 193 Reverse Circulation (RC) drill holes, demonstrate the continuity of the horizontal blanket of near‐surface oxide mineralisation at Cameron Well. In light of these results, Dacian Gold expects to complete a maiden oxide Mineral Resource at Cameron Well around mid‐year. The latest drilling has also confirmed the presence of at least four separate primary gold‐hosting lode structures in the fresh rock below the oxide mineralisation. The drilling supports the Company’s view that Cameron Well has the potential to become the third production source at Mt Morgans, which recently poured its first gold from a newly‐constructed 2.5Mtpa CIL processing plant which was completed on time and on budget (see ASX release 3 April 2018). Dacian Gold’s Executive Chairman, Mr Rohan Williams, said the latest results provided more strong evidence that Cameron Well is emerging as a significant new gold discovery which has excellent potential to deliver further growth in both Ore Reserves and mine life at Mt Morgans. “These results show that Cameron Well is likely to play a key role in the future of Mt Morgans,” he said. “The strong continuity of oxide mineralisation from the 40m x 40m RC drilling we have recently completed will help underpin the first Mineral Resource estimate for Cameron Well. “Meanwhile, the four separate geometries of the primary lode structures which have now been confirmed sitting below the oxide mineralisation are a key indicator that a large and strongly mineralised system may be present at Cameron Well. “We have now confirmed that oxide mineralisation and associated primary lode structures are present throughout the 1km x 1.2km area described in this release, and we still have the rest of the 6km2 oxide | |
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