Dacian Gold increases Westralia Resource

THE BOURSE WHISPERER: There was some keen activity around the booth of gold producer Dacian Gold (ASX: DCN) at the Diggers & Dealers Conference.

The commotion was most likely caused by the company’s announcement of an increase to the Mineral Resource for its Westralia prospect, taking it to 9.2 million tonnes at 5.1 grams per tonne gold for 1.5 million ounces of gold above a lower cut-off grade of 2g/t gold.

The company said the updated Westralia prospect Mineral Resource represents a 76 per cent increase, or 652,000 ounces, above the previous Mineral Resource of 4.6 million tonnes at 5.8g/t gold for 853,000 ounces.

The new figure includes an Inferred Mineral Resource of 1.1 million tonnes at 9.2g/t for 318,000 ounces for the new footwall BIF discovery the company announced in July.

The Westralia Resource has now been continuously defined over a strike length of 2.8 kilometres and a vertical extent of 720 metres where Dacian said it exhibits an average endowment in excess of 2,000 ounces per vertical metre.

The company indicated the Resource also contains, between 120m and 560m below the surface (440 vertical metres), an average endowment of over 2,970 ounces per vertical metre at an average grade of 5.4g/t for 1.3 million ounces.

The total Mineral Resource inventory for the Mt Morgans gold project now stands at 47.1 million tonnes at 2g/t gold for 3.1 million ounces.

“Dacian has discovered over one million ounces of gold at both the Westralia prospect and the Jupiter prospect since its IPO in November 2012,” the company claimed in its ASX announcement.

Website: www.daciangold.com.au