AGM Presentation
Perth, Nov 17, 2014 AEST (ABN Newswire) - Dacian Gold (
ASX:DCN) provide the 2014 Annual General Meeting Presentation with the following highlights:
- Well funded: $9M in cash.
- Strong and experienced team.
- Focused on Mt Morgans and focused on technical excellence.
- Drilling 40,000m this FY, 16,000m drilled to date.
- Aim to increase the 1.2 Moz, 4g/t resource base.
- Minimum Ore Reserve target is +600,000oz, +5 year mine life & stand-alone operation.
- Made two high grade discoveries since the November 2012 IPO.
Mineral
- Resource 1.2Moz @ 4.0g/t
- Acquired Ore Reserve 136Koz @ 6.2g/t ~25% of minimum 600Koz target.
- Simple drill strategy in FY2015:
* Define mineralisation limits of new discoveries at Millionaires & CSZ.
* Define size of ore systems at Westralia & Jupiter.
To view the presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-DCN-699904.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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