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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Jupiter, Europa, Callisto | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/10/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 10-10-2016: Dacian Gold Ltd. announces an Exploration/Drilling Update report for its Jupiter, Europa, Callisto deposit at the Mt Morgans project. Drilling results incl. 4.45m @ 6.7g/t Au from 475m. Dacian Gold (ASX: DCN) is pleased to announce new explora | |
| Resources: | (Reserve, Prob.): 28000t @ 9.2g/t Au for 8000oz Au contained at Mt Morgans | |
| CP/QP: | [Overall Report]: Rohan Williams (Internal) | |
| ABSTRACT: | Dacian Gold (ASX: DCN) is pleased to announce new exploration results and provide an update on exploration activities at the Jupiter Regional, Callisto and Westralia Prospects at its 100%‐owned Mt Morgans Gold Project (MMGP) in Western Australia. The results continue to highlight the potential for further growth in Mt Morgans’ 3.3Moz gold resource inventory. The exploration is being conducted in parallel with Dacian’s work on the Mt Morgans Definitive Feasibility Study (DFS), which is on track for completion this quarter. Under this timetable, first gold production is scheduled for the March quarter, 2018. Dacian Executive Chairman Rohan Williams said the latest exploration results continued to demonstrate the substantial scope to grow Mineral Resources and Ore Reserves at Mt Morgans. “Having spent the best part of three years focusing on the Jupiter and Westralia Deposits, we are now intensifying our wider exploration campaign and are already generating excellent results” he said. “The recent drilling results from Cameron Well – which has been confirmed as a large scale, highly‐ prospective target – and those we are now seeing at the previously untested magnetic corridors at Jupiter Regional; the southern extension of the Cornwall Shear Zone and the now‐mineralised Europa target, give us great confidence in the potential to continue to grow our gold inventory. “At Jupiter, early‐stage reconnaissance drilling has demonstrated the outstanding near‐mine exploration potential, with gold mineralisation now intersected in the previously unexplored area at Europa immediately adjacent to the 1.4Moz Mineral Resource,” Mr Williams said. “While further work is required to confirm the extent of this new mineralisation, the successful start to this drilling campaign augurs well for the potential to increase the size and footprint of the Jupiter Gold Deposit.” Mr Williams said drilling at Callisto had intersected a large structure measuring more than 100m wide with very strong alteration. | |
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