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Dacian Gold’s 97-metre gold intersection thickest yet at Cameron Well prospect of Mt Morgans project

Results from recent drilling will be used in a maiden resource estimate for oxide mineralistion at Cameron Well.
Mt Morgans mineral processing plant
The treatment plant at Mt Morgans near Laverton in Western Australia

Dacian Gold Ltd (ASX:DCN) has hit thick high-grade gold intersections of up to 97 metres from the Cameron Well prospect of its Mt Morgans Gold Operation near Laverton in Western Australia.

The 97-metre intersection at 3.1 g/t gold starts at 59 metres downhole and continues to the end of the hole, where 8 metres at 4.8 g/t was recorded.

It is the thickest intersection returned to date from Cameron Well with a second hole also returning a 49.3-metre intersection from 96 metres at 2.6 g/t.

Maiden resource is imminent

Results from these holes will be incorporated into a maiden resource estimate for the prospect, which is due by the end of this month.

Dacian Gold executive chairman and CEO Rohan Williams described the thickness of the results as exceptional with the high grades also being important.

“The more we drill at Cameron Well, the more we believe we are onto something very substantial,” he said.

“There is clearly more work to do, but it is increasingly apparent that Cameron Well has the potential to become our third production hub at Mt Morgans.”

READ: Dacian Gold confirms third gold discovery at Mt Morgans project

The mineral estimate will form part of a Dacian strategy to increase the project’s resource base and extend its mine life.

Williams said the drilling results followed a period of strong performance at the operation which has set its sights on producing 200,000 ounces a year.

Production ramp-up in progress

The company’s maiden first quarter for gold production was June 2018, when 34,155 ounces were produced, in line with its 30,000‐40,000 ounce guidance.

“Our production ramp-up is well on track, with the project meeting guidance for the June quarter,” Williams said.

“We are now well positioned to meet production guidance for FY2019.”

The company is set on ramping up to commercial production this calendar year and delivering 180,000‐210,000 ounces for the 2019 financial year.

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Dacian Gold Ltd Timeline

November 09 2015

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