Sign up Australia
Proactive Investors - Run By Investors For Investors

Dacian Gold confirms third gold discovery at Mt Morgans project

The company is less than seven weeks away from first gold production.
Dacian RC drilling
Cameron Well is the third gold discovery in the area after Westralia and Jupiter

Dacian Gold Ltd (ASX:DCN) drilling results have confirmed that Cameron Well is the third significant gold discovery at its Mt Morgans Gold Project in Western Australia.

A 119-hole reverse circulation drilling program has returned shallow high-grade results of up to 11.7 g/t gold over 4 metres from 71 metres.

Other results included 7 metres at 10.6 g/t from 19 metres, 5 metres at 5.2 g/t from 49 metres, 4 metres at 5.1 g/t from 84 metres and 4 metres at 4.1 g/t from 17 metres.

Oxide mineralisation is open

Only 15 of these holes returned assays of less than 0.5 g/t gold and the oxide mineralisation is open in all directions.

A further 16,000 metres of infill drilling is underway targeting a maiden oxide indicated mineral resource.

Feasibility study underway

Dacian has started collecting feasibility study data to be used in assessing the potential for open pit oxide ore reserves at Cameron Well and aims to announce a maiden ore reserve by mid-2018.

Dacian’s Mt Morgans project is near Laverton.

Cameron Well is midway between the Westralia and Jupiter mining areas and is just 9 kilometres northwest of the new CIL treatment plant, which is more than 95% complete.

First production imminent

The company is less than seven weeks away from first gold production from the plant, which has an annual capacity of 2.5 million tonnes.

Mt Morgans, which is near Laverton, has a mineral resource of 3.3 million ounces, including an ore reserve of 1.2 million ounces.

Dacian plans to produce gold at an annual rate of 200,000 ounces.

View full DCN profile View Profile

Dacian Gold Ltd Timeline

November 09 2015

Related Articles

March 22 2018
Lithium and tungsten have been to the fore of late, but there are plenty of other strings to Premier African's bow
Signpost saying Nevada
March 28 2018
The near-term transition of the Eureka Gold Project to a cash-generating asset will be a major milestone for Tyranna.
An aircore drill rig at the GT6 prospect of the Pinnacles Gold Project
April 19 2018
Nexus has only scratched the surface in seeking out a Karari-style deep plunging ore body.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use