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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Phoenix Ridge | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-11-2019: Dacian Gold Ltd. announces an Exploration/Drilling Update report for its Phoenix Ridge deposit at the Mt Morgans project. Drilling results incl. 23.1m @ 30.2g/t Au from 266.9m. Dacian Gold Ltd (Dacian Gold or the Company) (ASX: DCN) is pleased | |
| Resources: | (Resource, Inf.): 0.481Mt @ 8.1g/t Au fro 125Koz Au contained at Phoenix Ridge | |
| CP/QP: | [Overall Report]: Rohan Williams (Internal) | |
| ABSTRACT: | Dacian Gold Ltd (Dacian Gold or the Company) (ASX: DCN) is pleased to report outstanding results from in-fill drilling of its recently discovered high-grade Phoenix Ridge deposit, located less than 500m north of the operating Westralia gold mine within its 100%-owned Mt Morgans Gold Operation (MMGO), near Laverton in WA. The results are expected to underpin an upgrade of the existing Inferred Resource of 481,000 tonnes at 8.1g/t Au for 125,000oz (see ASX release of 3 October 2019), due to be completed next quarter. The new intersections, which come from a recently commenced 40m x 40m infill drilling program have confirmed the continuity of the high-grade gold mineralisation. The infill drilling has also identified a new high-grade shoot lying less than 50m into the hangingwall of the main lode that comprises the Phoenix Ridge Mineral Resource. This new hangingwall lode has been defined over a plunge extent of over 350m and remains open at depth. None of the newly-defined high-grade shoot is accounted for in the maiden 125,000oz Mineral Resource at Phoenix Ridge. | |
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