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Dacian Gold Ltd.
Summary
| Project: | Mt Morgans | |
|---|---|---|
| Deposit: | Westralia Underground | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 28-6-2016: Dacian Gold Ltd. announces an Exploration/Drilling Update report for its Westralia Underground deposit at the Mt Morgans project. Drilling results incl. 3.3m @ 84.3g/t Au from 212.2m at Westralia Underground deposit. Dacian Gold Ltd (“Dacian Go | |
| Resources: | (Reserve, Prob): 28000t @ 9.2g/t Au for 8000oz Au contained at project | |
| CP/QP: | [Overall Report]: Rohan Williams (Internal) | |
| ABSTRACT: | Dacian Gold Ltd (“Dacian Gold” or “the Company”) (ASX: DCN) is pleased to advise that its strategy to develop two high-grade underground mines at its 100%-owned Mount Morgans Gold Project (MMGP) in WA has been further strengthened by a series of high-grade drilling results. The new results come from the Westralia Underground deposit which, along with the Morgans Underground deposit, form part of the Westralia Prospect. The two proposed underground mines at Westralia are in addition to the proposed open pit mining complex at the nearby Jupiter Prospect. The latest results have established the presence of extensive high-grade mineralisation within 60m of the base of the dormant Westralia open pit. These results will be included in the Mineral Resource upgrade for the Westralia Prospect, which is due to be released next month. A Mineral Resource upgrade for the Jupiter Prospect at Mt Morgans is also due to be released next month, followed by a maiden Ore Reserve estimate for Jupiter. These estimates will form part of the MMGP Feasibility Study, which is scheduled for completion in the December quarter of this year. The latest drilling program of 24 diamond drill holes for 11,000m completes the in-fill diamond drilling program at the Westralia Prospect which comprised 95 diamond drill holes for a total of 46,000m. Results from the previously released 71 in-fill diamond drill holes from Morgans Underground were reported in ASX announcements dated 11 February 2016, 21 March 2016 and 1 June 2016. | |
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