Dacian Gold increases Westralia to 900.000 ounces

THE DRILL SERGEANT: Dacian Gold (ASX: DCN) reported a 176 per cent increase in the Measured and Indicated Mineral Resources for the Westralia deposit, part of the company’s 100 per cent- owned Mount Morgans gold project (MMGP) in Western Australia.

The Westralia deposit now has Measured and Indicated Resources of 905,000 ounces, which Dacian said would underpin a maiden Westralia Ore Reserve due later this year.

Total Mineral Resource at the Westralia deposit has increased by 101,000 ounces and is currently sitting at 8.6 million tonnes at 5.8 grams per tonnes gold for 1,621,000 ounces.

Dacian stressed the new Westralia Mineral Resource of 1.62 million ounces has an average grade of 5.8g/t gold, which is an increase of 0.7g/t gold, or 15 per cent, in the average grade compared with the previous Westralia Mineral Resource announced in 2015.

Dacian Gold also advised that for reasons known only to the company, it has renamed the Westralia Underground Mineral Resource to the Beresford Mineral Resource and the Morgans Underground Mineral Resource to the Allanson Mineral Resource.

The previously named Westralia prospect is renamed the Westralia deposit, and now comprises the following Mineral Resources: Beresford, Allanson and Morgans North.

“Our success in building a Measured and Indicated Resource of this size – now totalling over two million ounces of Measured and Indicated Resources across the Westralia deposit and Jupiter prospect – means we have ticked another key box in our strategy to become a mid-tier gold producer in 2018,” Dacian Gold Executive Chairman Rohan Williams said in the company’s announcement to the Australian Securities Exchange.

“We also have a high-grade 715,000 ounce Inferred Resource below the Measured and Indicated Resource at the Westralia deposit, which provides an immediate target for drilling to convert additional ounces into the higher-confidence Measured and Indicated categories.”

Website: www.daciangold.com.au