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Doray Minerals drilling hints at more gold from producing mine

The company produced 24,497 ounces of gold in the last quarter.

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The drilling is part of Doray’s strategy to upgrade the resource

Doray Minerals (ASX:DRM) has intersected high-grade gold and copper from its ongoing resource infill and extension program at the Deflector Gold Copper Operation in Western Australia.

The Deflector Mine, located in the southern Murchison region, commenced production in May 2016.

The drilling is part of Doray’s strategy to upgrade the inferred sections of the resource to indicated category, and to extend it at depth, which will allow additional ore reserves to be delineated.

Doray’s drilling has primarily focussed on the extremities of resources on the main Western and Central Lodes, with additional intersections of the Contact Lodes.

A total of 19 diamond drill holes for 6,103 metres have been completed to date, with drilling continuing.

Significant intersections returned to date from the program include:

- 0.87 metres at 8 g/t gold and 0.7% copper from 204.5 metres (Western Lode); and
- 0.79 metres at 23.1 g/t gold and 1.2% copper from 185.7 metres (Western Lode).

The latest results have increased the understanding of the orebody and confirmed that strong mineralisation continues at depth beyond the boundaries of the current mine plan.

Drilling is continuing with two diamond drill rigs on site operating on a double shift basis.

Doray also owns the Andy Well Gold Mine in the Murchison region, which commenced production in August 2013.

The company produced 24,497ounces of gold and 1,438 tonnes of copper during the March 2017 quarter, generating a revenue of $60.5 million for the quarter.

Doray closed the quarter with cash, gold and concentrate-on-hand of $31.9 million as at 31 March 2017.

Quick facts: Doray Minerals Limited

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ASX:DRM
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