Targeting high grade gold

New life for the Mount Morgans gold project

Scoping Study estimates life-of-mine gold production of 1.2 million ounces at an All-In-Sustaining-Cost (AISC) of A$929/oz.


Quarterly Activities Report to 30 September 2015


A New Australian Gold Project - Equity Raising Investor Presentation


Welcome to Dacian Gold

Dacian Gold Limited (DCN) is a Western Australian based gold exploration and development company listed on the ASX in November 2012 to explore the Mount Morgans Gold Project (MMGP) in the Laverton district of Western Australia.

Mount Morgans is a historically high grade goldfield which has produced over 1.3Moz of gold at an average grade of 4.1g/t Au since the first discovery in 1896. The project comprises a land holding of 520km2 .

Since listing, the Company has added over 1 million ounces of gold at each of Westralia and Jupiter; and the project-wide resource inventory now exceeds 3 million ounces of gold. Dacian has now added over 2.2 million ounces at a discovery cost of less than A$7/ounce.

Highlights from the drilling include confirming the substantial size of the gold mineralisation systems present at both Westralia and Jupiter. At Westralia, Dacian has now defined a continuous zone of high grade mineralisation over 2.8km long: the resource now stands at 9.1Mt at 5.1 g/t for 1.5 million ounces of gold. At Jupiter the Company has now defined a continuous zone of near surface mineralisation over 1.8km long: the resource now stands at 27Mt at 1.3 g/t for 1.1 million ounces of gold.

Towards the end of the financial year, Dacian commenced work on completing a Scoping Study for Mt Morgans on the increased resource base. The results of the study were announced on 30 September 2015 and clearly showed that the MMGP has the potential to be a significant, low-cost WA-based gold operation.

A quick summary of the results of the Scoping Study includes:

  • An average of 220,000 ounces of gold production per annum in the first 5 years of operation
  • All in sustaining costs of A$929/ounce
  • Site infrastructure capital is estimated at A$157 million, which includes a purpose-built 2.5Mtpa treatment facility

The Company has the benefit of extensive existing infrastructure which includes: gas pipeline, haul roads, borefield with excellent quality water, operating camp, Telstra communications tower, granted Mining Leases and ready access to sealed airstrips at nearby Laverton and Leonora.

Our plan next year is to complete a definitive feasibility on the Mt Morgans Gold Project. Your Board of Directors will then consider whether to commence construction of the treatment plant considered in the Scoping Study. Our target is to commence gold production in early 2018.

Further detail on the MMGP Scoping Study can be found here.