Quarterly Activities Report and Appendix 5B
Perth, April 11, 2014 AEST (ABN Newswire) - Dacian Gold Limited (
ASX:DCN) provide the Quarterly Activities Report to the period ending March 31, 2014. Four new, previously unreported, high grade gold intersections from up to 150m outside the current 610,000 ounce Mineral Resource at Westralia include:
- 2.0m @ 66.1 g/t Au from 147m
- 10.0m @ 11.3 g/t Au from 125m
- 5.6m @ 3.8 g/t Au from 365m
- 1.1m @ 10.6 g/t Au from 550m
High grade gold mineralisation has been intersected over a vertical distance of approximately 500m in five broadly spaced holes on section 10160N on Millionaires Shoot at Westralia, and remains open at depth.
New, previously unreported, intersections at Heffernan's Zone and the Link Zone at Jupiter confirm near surface gold mineralisation, and include:
- 6.0m @ 2.9 g/t Au from 0m
- 13.0m @ 3.1 g/t Au from 78m
- 6.0m @ 2.5 g/t Au from 56m
- 58.0m @ 1.0 g/t Au from 115m
CORPORATE
- The company remains well funded with $12.2M in cash as at 31 March 2014.
- Rohan Williams was appointed to the role of Executive Chairman following the departure of Paul Payne.
EXPLORATION
March Quarter Overview
Exploration work completed in the March Quarter within Dacian's 100% owned Mt Morgans Project included the drilling of eight diamond drill holes for 2,758m at the Westralia prospect; and 10 RC holes for 1,509m of drilling at the Jupiter prospect. Prospect locations are shown in Figure 1 in link below.
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-DCN-673813.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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