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Doray Minerals Ltd.
Summary
| Project: | Deflector | |
|---|---|---|
| Deposit: | Da Vinci | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 9/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-9-2018: Doray Minerals Ltd. announces a Resource Estimation report for its Da Vinci deposit at the Deflector project. Upgraded mineral resource estimate at Da Vinci deposit. Doray Minerals Limited (“Doray” or “the Company”) (ASX: DRM) is pleased to ann | |
| Resources: | (Resource): 248Kt @ 12.5g/t Au, 0.5% Cu for 100Koz Au, 1200Kt Cu contained at Da Vinci | |
| CP/QP: | [Resources]: Mark Cossum (Internal) | |
| ABSTRACT: | Doray Minerals Limited (“Doray” or “the Company”) (ASX: DRM) is pleased to announce an upgraded Mineral Resource for the high-grade Da Vinci gold discovery within the Deflector Gold Copper Mine. The upgraded Da Vinci Mineral Resource is a key step in Doray achieving its Target 1-5-1 strategic goal of 100,000 ounces Au production per annum, a minimum of five year’s mine life and an All-In Sustaining Cost (AISC) of less than $1,000 per ounce Au. Commenting on the Da Vinci Mineral Resource upgrade, Doray Minerals Managing Director Leigh Junk said: “Following a transformational 2017-18 for Doray during which we managed to strengthen the Company’s balance sheet and achieve safe and steady operations at our flagship Deflector Gold Copper Mine, we are now committed to building on that success with a focus on cash flow and production growth. “Our Target 1-5-1 strategic goal is aimed at delivering sustained value for the Company and our shareholders by maximising the potential of our exceptional Deflector asset. The Link Lode ore body and Da Vinci, which were both delineated last year, will play a pivotal role in the Company achieving this goal. “Importantly, the Da Vinci Mineral Resource was not included in Doray’s significantly improved Life of Mine plan for Deflector, which we announced to the ASX on 23 July 2018, and therefore presents clear potential for future upside. “In a short space of time, we have managed to increase Da Vinci’s Mineral Resource to 100,000 ounces of gold without encountering the end of the mineralisation. This gives us great confidence that we are yet to discover Da Vinci’s full potential. A $10 million near-mine exploration programme is under way to build on these outstanding results.” | |
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