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Doray Minerals targets gold production and margin increase from Deflector

Doray's goal is to produce over 100,000 gold ounces per annum from Deflector.
Doray Minerals targets gold production and margin increase from Deflector
Deflector recently revealed some bonanza grade results

Doray Minerals Ltd (ASX:DRM) is targeting a 30% increase in gold production from the Deflector Gold Copper Mine during financial year 2019.

Guidance has been set at 80,000 to 85,000 gold ounces.

Production costs are also falling, and for the guidance period the all-in-sustaining-cost is forecast between $1050 and $1150 per ounce, a reduction on the previous period.

If the Australian dollar gold price remains in its current $1700 range, then the mine is set to make a healthy margin.

Doray has allocated a $10 million exploration budget for the next 12 months.

Ultimately the company is targeting sustainable annual production of 100,000 gold ounces per annum with a mine life greater than five years.

Bonanza gold

Grade control diamond drilling recently revealed some bonanza grade results from Deflector, including:

- 0.6 metres at 299g/t gold and 3.3% copper;
- 0.6 metres at 219g/t gold and 10.5% copper; and
- 0.8 metres at 188g/t gold and 3.1% copper.

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Doray Minerals Ltd Timeline

Newswire
October 25 2016

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