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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Morgans North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/5/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 5-8-2019: Dacian Gold Ltd. announces an Exploration/Drilling Update report for its Morgans North deposit at the Mt Morgans project. Drilling results incl. 10.2m @ 3.02g/t Au from 132.8m. Dacian Gold Ltd (Dacian Gold or the Company) (ASX: DCN) is pleased t | |
| Resources: | (Reserve, P+P): 26.737Mt @ 1.6g/t Au for 1.389Moz Au 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 more strong drilling results which confirm it has made a high-grade discovery below the historic Morgans North open pit at its Mount Morgans gold operation near Laverton in WA. The Morgans North open pit lies approximately 500m north of the operating Westralia underground gold mine, one of the two principal operating centres at Mt Morgans. The new discovery is interpreted to be hosted by a previously unrecognised banded-iron-formation (BIF) unit that lies in the footwall of the BIF units that were mined as part of the historic (1990s) Morgans North open pit. The results continue to confirm the potential for significant increases in Mineral Resources and mine life with the Company accelerating activities to complete a maiden Mineral Resource for this new discovery by the end of the September quarter. Dacian Gold Executive Chairman Mr Rohan Williams said “The new drill results confirm the previously unidentified BIF unit associated with the Morgans North open pit has a strike continuity of high grade mineralisation over at least 300m. “We are currently completing a number of 80m-spaced holes in the 250m gap between our new drilling and the base of the old Morgans North open pit. If these drill holes return similar widespaced, high-grade intersections to those seen in our recent drilling programs, then there is strong potential for this discovery to become a new, near-term production source at Mt Morgans. Mr Williams said the latest discovery was another example of the excellent exploration upside at Mt Morgans. “On top of the eight-year life-of-mine that we announced in early July, the added potential production associated with this new discovery below the Morgans North open pit, combined with the discoveries we have made at Cameron Well and Basin Margin auger well for a production life at Mt Morgans well beyond the eight years we have outlined.” | |
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