Dacian Gold continues drilling run at Morgans Underground

THE DRILL SERGEANT: Dacian Gold has received further positive high-grade drilling results from the conceptual Morgans Underground position, part of the Westralia prospect, at the company’s 100 per cent-owned Mount Morgans gold project (MMGP) in Western Australia.

Dacian explained the Morgans Underground, with the adjacent conceptual Westralia Underground position, forms part of a large mineralised system at the Westralia prospect where the comapny is targeting development of two large, high-grade underground mines below an historical open pit.

The latest drilling results come from an ongoing 129-hole resource infill diamond drilling program at Westralia, which Dacian anticipates will underpin the Westralia Resource upgrade planned for release later this year.

The 129-hole program comprises 67 diamond drill holes infill-testing the Morgans Underground Mineral Resource and 62 diamond drill holes infill-testing the Westralia Underground Mineral Resource.

According to Dacian the drilling is focussed initially on infilling the Morgans Underground position, once this has been completed the drilling focus will shift to Westralia Underground.

Latest results from the infill drilling at Morgans Underground include:

3.6 metres at 48 grams per tonne gold from 527.4m;

3m at 24.6g/t gold from 269.6m;

5.6m at 23.2g/t gold from 469.3m;

1.9m at 15.9g/t gold from 196.8m;

2.7m at 7.2g/t gold from 421m;

4m at 7g/t gold from 358m;

3m at 6.5g/t gold from 511m;

3.8m at 6.1g/t gold from 465m; and

4.4m at 5g/t gold from 365m.

“The company’s 90,000 metre resource in-fill and extensional drilling program at Mount Morgans is well advanced with both Jupiter and now Morgans Underground almost complete,” Dacian Gold executive chairman Rohan Williams said in the company’s announcement to the Australian Securities Exchange.

“These new high-grade drill results support our view that the conceptual Morgans Underground position may well develop into a significant new underground gold mine in its own right, playing a key role in the future production profile at Mt Morgans.

“The combination of these latest results and those we are generating at the Jupiter prospect auger well for the Feasibility Study we expect to complete by the end of this year, which in turn may pave the way for Dacian to become a significant new mid-tier Australian gold producer in 2018 at a targeted production rate of plus-220,000 ounces per annum.”

Website: www.daciangold.com.au