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Dacian Gold starts drilling at Western Australia gold project

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Dacian Gold (ASX:DCN) has recommenced drilling at its wholly-owned Mt Morgans Project near Laverton, Western Australia.

The 25 hole reverse circulation program will drill out the prospective Heffernans prospect ahead of completing an inaugural resource estimate for Jupiter

It will also in early February start a four hole diamond drill program to test the significant surface TEM anomaly defined 3 kilometres north of the plus 1.5 million ounce BIF-hosted Westralia deposit.

Mt Morgans has a current Resource of 1.2 million ounces at an average grade of 4 grams per tonne gold as well as an Ore Reserve of 136,000 ounces.

The company’s strategy is to define Ore Reserves of at least 600,000 ounces at the project. This is expected to provide sufficient returns to justify the investment capital required to construct an ore processing facility at the project.

Multiple exploration targets and resource extension opportunities have been identified.

 

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Quick facts: Dacian Gold Ltd

Price: 1.435 AUD

ASX:DCN
Market: ASX
Market Cap: $326.86 m
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