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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Jupiter | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 19-7-2016: Dacian Gold Ltd. announces a Resource Estimation report for its Jupiter deposit at the Mt Morgans project. Measured + Indicated resources up 69% to 1.1Moz Au at Jupiter. Dacian Gold Ltd (ASX: DCN) (“Dacian Gold” or “the Company”) is pleased to | |
| Resources: | (Resource, Total): 33.7Mt @ 1.3g/t Au for 1.4Moz Au contained at Jupiter prospect | |
| CP/QP: | [Resources]: Shaun Searle (RungePincockMinarco Ltd.) | |
| ABSTRACT: | Dacian Gold Ltd (ASX: DCN) (“Dacian Gold” or “the Company”) is pleased to advise that it has achieved another key milestone in its strategy to become Australia’s next significant mid-tier gold producer after delivering a 69% increase in the Measured and Indicated Mineral Resources at the Jupiter Prospect, part of its 100%-owned Mount Morgans Gold Project (“MMGP”) in WA. The Jupiter Prospect now has Measured and Indicated Resources of 1.12 million ounces, which will underpin the maiden Jupiter Ore Reserve due later in the quarter. Total Mineral Resources at the Jupiter Prospect – which comprises three shallow deposits, Doublejay, Heffernans and Ganymede – have increased by 207,000oz, or 19%, to 1.4 million ounces. Mineral Resource updates for the nearby Westralia Prospect, comprising the Westralia Underground and the Morgans Underground (current Mineral Resource of 1.5Moz at 5.1 g/t Au) are on track for release later this month. The new Mineral Resource incorporates drill results from the recently completed drilling program which comprised 313 RC drill holes (for 34,000m) and 37 diamond drill holes (for 7,000m). The key aim of this drill program was to in-fill drill the Jupiter Prospect Mineral Resource to 40 x 40m centres with a view to increase the Measured and Indicated Resource proportion of the overall resource estimate. Dacian Gold engaged international mining specialists RungePincockMinarco Ltd (RPM) to complete the independent Mineral Resource estimate for the Jupiter Prospect, which is the subject of this announcement. | |
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