Dacian Gold Limited Quarterly Activities Report and Appendix 5B
29.07.2014 | ABN Newswire
Perth, Australia (ABN Newswire) - Dacian Gold Ltd. (ASX:DCN) provide the Quarterly Activities Report for period ending June 2014 and include exploration highlights from the period. Two new, previously unreported, high grade gold intersections from within the upper extent of the current 610,000 ounce Mineral Resource at Westralia include:
- 8.1m @ 4.6 g/t Au from 146m
- 5.1m @ 5.3 g/t Au from 179m
Major geological review and reinterpretation of the Jupiter prospect identifies a significant new exploration drill target on the Cornwall Shear Zone.
New intersections from the Cornwall Shear Zone at Heffernans confirm open pit potential at Jupiter and include:
- 18m @ 3.3 g/t Au from 100m
- 16m @ 3.0 g/t Au from 92m
- 12m @ 2.3 g/t Au from 75m
- 15m @ 1.8 g/t Au from 53m
- 39m @ 1.1 g/t Au from 120m
Shallow intersections returned above the Cornwall Shear Zone include:
- 2m @ 9.9 g/t Au from 29m
- 3m @ 7.3 g/t Au from 82m
- 2m @ 5.7 g/t Au from 13m
- 6m @ 2.4 g/t Au from 22m
- 15m @ 1.6 g/t Au from 11m
CORPORATE
- The company remains well funded with $11.0 million in cash as at 30 June 2014.
EXPLORATION
June Quarter Overview
Exploration work completed in the June Quarter within Dacian's 100% owned Mt Morgans Project included:
- a major geological review and reinterpretation at the Jupiter project leading to a 56 hole, 7,000m RC drill program of which 25 RC holes for 3,327m were completed.
- planning a major 8,300m framework diamond drilling program testing a 3km strike of the highly prospective Westralia BIF to a depth of approximately 700m. Prospect locations are shown in Figure 1.
The Company's current drilling strategy is:
1) Determine the resource limits of the recently discovered Millionaires Shoot at Westralia. Westralia is currently estimated to contain 3.2Mt @ 5.9 g/t for 610,000 ounces of gold.
2) Confirm the size of the Westralia mineralised system.
3) Test mineralised extent of the newly defined +2km Cornwall Shear Zone at Jupiter - a Wallaby look-a-like.
4) Confirm the size of Jupiter mineralised system.
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-DCN-685364.pdf
About Dacian Gold Limited:
Dacian Gold Ltd. (ASX:DCN) is a well-funded, Western Australian focused gold exploration and development company, headquartered in Perth. In November 2012, the company raised $20 million in its IPO to explore its 100% owned Mt Morgans gold project, located in the Laverton District of Western Australia's North Eastern Goldfields.
Contact:
Dacian Gold Ltd.
Rohan Williams, Executive Chairman
T: +61-8-9226-4622
E: rohan.williams@daciangold.com.au
www.daciangold.com.au
