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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Mt Morgans | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-8-2018: Dacian Gold Ltd. announces a Resource Estimation report for its Mt Morgans deposit at the Mt Morgans project. Updated mineral resource estimate at the project, and new drill results. Dacian Gold Ltd (Dacian Gold or the Company) (ASX: DCN) is ple | |
| Resources: | (Resource, Total): 54.676Mt @ 2.0g/t Au for 3.520Moz Au contained at Mt Morgans | |
| CP/QP: | [Resources]: Shaun Searle (Internal) | |
| ABSTRACT: | Dacian Gold Ltd (Dacian Gold or the Company) (ASX: DCN) is pleased to report that Measured and Indicated (M&I) Mineral Resources at its 100%‐owned Mt Morgans Gold Operation (MMGO) in Western Australia have increased by 11 per cent, or 245,000oz, to 2.5 million ounces. The increase, which also sees the total Mineral Resource base at the MMGO rise to 3.5 million ounces, marks another key step towards Dacian’s goal of becoming a mid‐tier gold producer with annual production of over 200,000 ounces a year and a +10‐year mine life. Following the Company’s recent successful A$48 million capital raising, Dacian will now embark on an aggressive drilling and exploration program specifically targeting additional Mineral Resource growth at Cameron Well and Westralia. Dacian Gold Executive Chairman Rohan Williamssaid the substantial increase in Measured and Indicated Resources showed the Company was on track to achieve its key growth objectives at Mt Morgans. “This outstanding result is important for three reasons,” he said. “Firstly, it demonstrates that we are making great progress towards our goal of establishing a +10‐year mine life with annual production of +200,000oz – cementing our position as a significant new mid‐tier Australian gold producer. | |
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