Dacian increases underground Resources at Westralia

THE DRILL SERGEANT: Dacian Gold (ASX: DCN) announced a Mineral Resource increase for the Westralia gold deposit at the company’s Mt Morgan project, located in the Laverton District of Western Australia’s North Eastern Goldfields.

The Resource now stands at 4.6 million tonnes at 5.8 grams per tonne gold for 853,000 ounces – above a lower cut-off grade of 3g/t gold.

The latest result is a 40 per cent increase from the previously reported resource estimate of 3.2 million tonnes at 5.9g/t for 610,000 ounces, which Dacian said was due principally to the inclusion of a portion of mineralisation identified from recent drilling, which had confirmed the Westralia mineralised system as being substantially larger than previously recognised.

“The 853,000 ounce Mineral Resource at Westralia is defined over a total vertical interval of 720 metres, however a 500 metre interval between 360 and 140 metres RL exhibits a significant endowment of over 1,600 ounces per vertical metre, at an average grade of 5.9 grams per tonne, Dacian Gold said in its ASX announcement.

“This major, high-grade resource upgrade confirms the Westralia deposit as having the potential for development as an underground mine.”

Dacian also reported it has updated the Ramornie estimate with a 23,000 ounce increase to the total Mineral Resource, which now stands at 0.4 million tonnes at 4g/t for 57,000 ounces.

The increase of the Mineral Resource for the Westralia and Ramornie deposits brings the total resource inventory for the Mt Morgans project to 10.7 million tonnes at 4g/t for 1.43 million ounces.

“The company is pleased the average grade of the 1.43 million ounce resource base is maintained at the high-grade of 4 grams per tonne gold,” Dacian said.

Website: www.daciangold.com.au