Dacian reveals new Resource for Heffernans gold discovery

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THE DRILL SERGEANT: Dacian Gold (ASX: DCN) has released a maiden Mineral Resource estimate for its Heffernans gold discovery, located within the Jupiter prospect, which is situated within the eastern half of the company’s 100 per cent-owned Mt Morgans project west of Laverton in Western Australia.

The Heffernans Resource has added a further 709,000 ounces to the Mt Morgan project, taking its Resource to 24.4 million tonnes at 2.6 grams per tonne gold for 2.1 million ounces of gold.

The Heffernans Resource estimate comprises a higher grade component of:

13.7 million tonnes at 1.4g/t gold for 625,000 ounces above a 0.5g/t gold lower cut-off grade; and

A lower grade:

6.7 million tonnes at 0.4g/t gold for 84,000 ounces above a 0.3g/t gold lower cut-off grade and below a 0.5g/t gold cut-over grade.

According to Dacian, 70 per cent of the 709,000 ounce maiden resource estimate is in the Indicated Mineral Resource category.

538,000 ounces of the Mineral Resource (or 76 per cent) occurs within 200 metres of the surface.

The Mineral Resource inventory for the Jupiter prospect now exceeds
780,000 ounces.

Dacian indicated it has commenced a Scoping Study at Mt Morgans to assess combining the new 780,000 ounce Jupiter prospect with the high-grade 850,000 ounce underground Westralia prospect as separate ore sources feeding a single processing facility.

“The combination of the large, high-grade underground Westralia Mineral Resource and the new near-surface Heffernans Mineral Resource provides Dacian with an excellent opportunity to consider the potential of multiple feed sources to a single centralised processing facility,” Dacian Gold said in its ASX announcement.

“To that end, Dacian has commenced work on a Mt Morgan project Scoping Study (MMSS) aimed at evaluating the potential for a large stand-alone gold operation.

“The MMSS will include ongoing drilling and project evaluation work which will potentially lead into a full feasibility study aiming for completion at the end of CY2016.”

Website: www.daciangold.com.au