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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Westralia | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 28-7-2016: Dacian Gold Ltd. announces a Resource Estimation report for its Westralia deposit at the Mt Morgans project. Updated mineral resource estimate for Westralia deposit, 176% increase in M+I resource. Dacian Gold Ltd (ASX: DCN) (“Dacian Gold” or “t | |
| Resources: | (Resource, Total): 8.6Mt @ 5.8g/t Au for 1.621Moz Au contained at Westralia deposit | |
| CP/QP: | [Resources]: Shaun Searle (RungePincockMinarco Ltd.) | |
| ABSTRACT: | Dacian Gold Ltd (ASX: DCN) (“Dacian Gold” or “the Company”) is pleased to report a 176% increase in the Measured and Indicated Mineral Resources for the Westralia Deposit, part of its 100%- owned Mount Morgans Gold Project (“MMGP”) in WA. The key announcement, which follows last week’s Mineral Resource upgrade for the nearby Jupiter Prospect, marks the culmination of Dacian’s highly successful 2016 resource in-fill drilling campaign and signals another key step towards achieving its objective of becoming Australia’s next significant mid-tier gold producer. The Westralia Deposit now has Measured and Indicated Resources of 905,000 ounces, which will underpin the maiden Westralia Ore Reserve due later this year. Total Mineral Resource at the Westralia Deposit has increased by 101,000 ounces and is now: 8.6Mt @ 5.8 g/t Au for 1,621,000 ounces. Importantly, the new Westralia Mineral Resource of 1.62 million ounces has an average grade of 5.8 g/t Au, which is a significant increase of 0.7g/t Au or 15% in the average grade compared with the previous Westralia Mineral Resource (see ASX announcement 16 September 2015). The new Westralia Deposit Mineral Resource incorporates drill results from the recently completed resource in-fill and extensional drilling program which comprised 71 diamond drill holes (for 35,000m) at the Morgans Underground and 24 diamond drill holes (for 11,000m) at the Westralia Underground. The key aim of this major 46,000m diamond drilling program was to in-fill drill the respective Westralia Deposit Mineral Resources to 50 x 50m centres with a view to increase the Measured and Indicated Resource proportion of the overall resource estimate. | |
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