Targeting high grade gold

New life for the Mount Morgans gold project

Dacian Gold presented the findings of its 100% owned Mt Morgans Gold Project Feasibility Study to deliver an Initial Ore Reserve of 1.2Moz on 21 November 2016.


Dacian Gold Quarterly Activities Report and Appendix 5B to 31 December 2017


Australia's New Mid-Tier Gold Producer - First Gold in 5 Weeks


Welcome to Dacian Gold

Dacian Gold Limited (ASX:DCN) is a Western Australian based gold development and exploration company.  Its sole focus is to bring its 100% owned Mount Morgans Gold Project (MMGP) in the highly endowed Laverton district of Western Australia into production in Q12018.  The Company completed a definitive Feasibility Study in November 2016 and commenced construction in January 2017, once key approvals were granted and permits received.

The Feasibility Study delivers an initial Ore Reserve of 18.6Mt @ 2.0 g/t Au for 1.2Moz at an AISC of A$1,039/oz (US$779/oz) and an initial 8 year mine and treatment schedule produces an average 186,000 oz per annum for first 4 years.  Dacian Gold estimates infrastructure capital costs of A$172M (US$129M) including a new 2.5Mtpa CIL treatment facility and tailings storage facility and 416-person accommodation village and mine-establishment capital costs of A$48M (US$36M) at Beresford and Allanson underground mines; and at Jupiter open pit.

The MMGP is a brownfields site and as such, much of the necessary infrastructure and services required to build the operation are already in place.  This includes all project tenure is granted Mining Leases, installed gas pipeline, on-site high quality raw water supply, local townships with sealed airstrips 25km away, installed communication tower on site, sealed highways within tenure, existing haul roads on site and a construction camp is in place.

The Feasibility Study contemplates  two mining complexes 15km apart (underground mining at Westralia and open pit mining at Jupiter) which includes:

  • Westralia Mine Area (Beresford and Allanson underground mines) initial Ore Reserve of 492Koz at an AISC of A$837/oz (US$628/oz) over an initial 4 year period; and
  • Jupiter Mine Area Ore Reserve of 643Koz from a 1.8km long open pit at an AISC of A$1,193/oz (US$895/oz) mined over an 8 year period

Upon completion of the Feasibility Study, Dacian Gold secured up to $150M in project debt funding with three tier-one banks.  Construction started in early CY2017, with gold production expected to commence in Q1 CY2018.