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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Maxwells | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-8-2017: Dacian Gold Ltd. announces an Exploration/Drilling Update report for its Maxwells deposit at the Mt Morgans project. Drilling results incl. 15m @ 4.1g/t Au from 23m. Dacian Gold Ltd (Dacian Gold or the Company) (ASX:DCN) is pleased to announce | |
| 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 (Dacian Gold or the Company) (ASX:DCN) is pleased to announce strong results from initial RC drilling at two shallow oxide prospects within its 100%‐owned Mount Morgans Gold Project (MMGP), located 25km south‐west of Laverton in Western Australia. The results continue to highlight the outstanding potential to grow the Mineral Resource at Mt Morgans in parallel with the Company’s project developmentstrategy, which remains on track to commence gold production in March next year. The drilling at Maxwells Oxide represents the initial, first‐pass RC drilling of the prospect. At Allanson Oxide, the drilling is the first follow‐up RC drilling in an area where Dacian discovered significant mineralisation in two 50m‐spaced reconnaissance drill holes in June 2016. The new results include. Dacian Gold Executive Chairman Rohan Williamssaid: “These latest resultssupport ourstrong belief that there is a lot more gold to be found at Mt Morgans, even in areas located relatively close to existing deposits. “The excellent exploration potential was clearly demonstrated by the recent results at the Cameron Well prospect, where we currently have three drilling rigs operating. “We have also now generated some impressive early‐stage results from two promising oxide prospects located close to existing mining and processing infrastructure. “The discovery and delineation of oxide resources may have significant strategic value to the Company, allowing us to introduce incremental sources of oxide feed to our new hard‐rock CIL plant in the early stages of operations. “With this in mind, we will commence follow‐up drilling at both of these prospects as part of our wider strategy to continue growing the Mineral Resource and mine life at Mt Morgans. This work will continue during the second half of the year in parallel with an accelerating exploration effort at Cameron Well. “We expect to provide the market with updated news flow on a number of fronts over the next few months as we count down to gold production in March 2018.” | |
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