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Dacian Gold confirms large scale gold system in WA Goldfields

Last updated: 14:40 24 Oct 2013 AEDT, First published: 13:40 24 Oct 2013 AEDT

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Dacian Gold's (ASX:DCN) first 5 diamond drill holes at its Jupiter prospect in the Western Australian Goldfields have returned thick intervals of gold mineralisation indicative of a substantial system over a strike in excess of 2 kilometres.

Intersects included 120 metres at 0.4 grams per tonne gold and 71 metres at 0.5 grams per tonne gold.

The drill holes lie in the southern part of the prospect and have confirmed extensive mineralisation within large syenite pipes in addition to the surrounding basalt.

The geology and style of mineralisation defined at Jupiter is analogous to that seen at the nearby 7 million ounce Wallaby deposit owned by Barrick Gold (NYSE:ABX).

The historic Jupiter open pit, combined with the current mineral resource, represent an endowment of around 300,000 ounces of gold to a depth of just 150 metres.

Dacian's drilling successfully defined the depth extensions of the syenite bodies and confirmed a steep, pipe-like orientation of the intrusions, with the entire syenite body continuously mineralised in some cases.

These results are promiusing for Dacian and indicate clear potential for an economic, bulk tonnage gold deposit.

 

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