Quarterly Activities Report and Appendix 5B
Perth, Oct 27, 2014 AEST (ABN Newswire) - Dacian Gold Limited (
ASX:DCN) provide the Quarterly Activities Report for period ending September 2014 with the following highlights:
Wide-spaced diamond drilling confirms high grade mineralisation at Westralia is at least 3kmlong and is open at depth. It is significantly larger than previously recognised. Better results
include:
- 2m @ 18.0 g/t gold
- 2m @ 8.6 g/t gold
- 1.8m @ 7.9 g/t gold
- 4.2m @ 6.8 g/t gold
- 4.8m @ 3.5 g/t gold
- 3.9m @ 3.0 g/t gold
Westralia framework drill hole 14MMRD022 intersected 13.9m @ 3.7 g/t gold on the RamornieStructure, 175m below the previous deepest drilling at Ramornie.
Drill results continue to confirm excellent continuity of high grade mineralisation overgood thickness is present on the Cornwall Shear Zone at Jupiter. Better results include:
- 3m @ 9.5 g/t gold
- 6m @ 3.9 g/t gold
- 16m @ 2.0 g/t gold
- 8m @ 1.8 g/t gold
- 11m @ 1.3 g/t gold
- 16m @ 1.0 g/t gold
- 9m @ 4.3 g/t gold
- 4m @ 4.6 g/t gold
- 6m @ 3.1 g/t gold
- 7m @ 2.9 g/t gold
- 11m @ 2.0 g/t gold
o11m @ 1.8 g/t gold
Corporate
The company remains well funded with $9.4 million in cash as at 30 September 2014.
James Howard commenced work as Dacian's Project Manager during the quarter.
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-DCN-696678.pdf
About Dacian Gold Ltd
Dacian Gold Limited (
ASX:DCN) Mt Morgans Project hosts high grade Mineral Resources of 2.1 million ounces at an average grade of 2.6 g/t gold, including Ore Reserves of 136,000 ounces at an average grade of 6.2 g/t gold. In addition, the Company has identified multiple exploration targets and resource extension opportunities. If proven, they will enable growth of the Mt Morgans' existing Mineral Resource and Ore Reserve base.
Dacian's strategy at Mt Morgans is evolving toward mine feasibility and potential mine development. It has identified two large mineralised systems at Westralia and Jupiter where it believes mine development at each site is a possibility, and will be the subject of ongoing drilling and feasibility studies. Dacian considers a high grade Ore Reserve of at least 600,000 ounces of gold is reasonably likely to provide sufficient returns to justify the investment capital required to construct an ore processing facility at the project.
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