PERTH(BullionStreet): Dacian Gold (ASX: DCN) has discovered high grade extensions to gold mineralisation at various prospects within its Mt Morgans Project in Western Australia’s north-eastern goldfields.
High grade gold has been intersected outside of existing resources at each of the Westralia, Transvaal and Ramornie prospects drilled.
Notable results from step-out resource-extension drilling at Westralia and Transvaal, and testing below the Ramornie prospect include:
- 4 metres at 10.4 grams per tonne (g/t) gold from 152 metres at Ramornie;
- 5 metres at 6.8g/t gold from 193 metres at Westralia; and
- 5 metres at 5g/t gold from 135 metres at Transvaal.
“Results received at this early stage in our programs are very encouraging with high grade gold mineralisation intersected outside of existing resources at each of the prospects drilled, said Paul Payne, Dacian Gold managing director.
“We will continue our drilling on these high grade targets as we begin our evaluation of the exciting regional targets,” he said.
Gold mineralisation at Westralia occurs within a well-defined banded iron formation (BIF) horizon.
Sparse drilling beneath the southern end of the Westralia pit carried out during the 1990s returned high grade gold intersections over an extent of about 1,000 metres along strike and 600 metres down dip.
Dacian has begun testing this large target area with an initial series of seven diamond holes.
Results from the first hole completed returned the high grade intersection of 5 metres at 6.8g/t gold from 193 metres, which lies about 30 metres below the existing 364,000 ounce resource.
Three other holes have also intersected the targeted BIF horizon at the expected location and results are awaited.
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