Dacian Gold Limited Quarterly Activities Report and Appendix 5B
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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