Dacian Gold Limited (DCN) is an Australian based mineral exploration company formed in 2011 to acquire the Mount Morgans Gold Project in the Laverton district of Western Australia. Mount Morgans is a historically high grade goldfield and has produced over 1.3Moz of gold at an average grade of 4.1g/t since the first discovery in 1896. The project comprises a land holding of 520km2 on which high grade Mineral Resources of 1.17Moz at 4.0g/t are currently reported, including Ore Reserves of 136,000oz at 6.2g/t.
Dacian listed on the ASX in November 2012 and is now well funded to conduct an intensive exploration and resource definition drilling program over the next two years, with a view to developing Mount Morgans into a stand-alone gold production centre. Our Board and management team has an extensive track record in successfully exploring for gold and developing gold mines in both Western Australia and overseas.
Drilling commenced soon after the company listed and high grade intersections have been returned from each of the prospects drilled. The most significant results have been returned from the Westralia and Jupiter deposits where substantial zones of high grade gold mineralisation were intersected during Dacian’s 2013 exploration campaign. This resulted in a major upgrade to the Westralia Mineral Resource to 610,000oz at a grade of 5.9g/t Au. High priority extensional targets to the Westralia and Jupiter mineralisation have been identified and remain to be drilled, and this work will continue through 2014 in conjunction with a regional exploration program.