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Doray Minerals eyes potential new ore body at Deflector Gold Copper Mine

The company commenced gold production at Deflector in May 2016.
A gold bar
Andy Well is forecast to produce 50,000 ounces of gold in 2017

Doray Minerals (ASX:DRM) has intersected high-grade gold from follow-up drilling at the newly discovered northern extension at its Deflector Gold Copper Mine in Western Australia.

The assays received include 1.4 metres at 106.2 g/t gold and 4.4% copper from 166 metres.

A total of four diamond drill holes have been drilled to date.

Two holes intersected zones of significant visual mineralisation, including visible gold.  To date assays have only been returned from one hole.

With bonanza grades, visible gold and massive chalcopyrite in the drill core it does appear that Doray is at the early stages of defining a new ore body at Deflector.

Drilling is continuing with a diamond rig currently drilling the next step-out section 80 metres further north.

Doray is a gold producer with two Western Australian gold operations - the Andy Well Gold Mine, which commenced production in August 2013; and Deflector, which commenced production in May 2016.

The company is expected to achieve its current forecast production guidance for FY 2017 at Andy Well of between 50,000 to 55,000 ounces of gold.

Deflector is scheduled to produce 60,000 - 65,000 ounces gold in FY 2018 at an all in sustaining cost of between A$1,225 – A$1,275 per ounce inclusive of by-product copper credits.

Doray’s shares were last trading 5% higher intra-day on Friday, at $0.205.

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Doray Minerals Ltd Timeline

Newswire
October 25 2016

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