Total
0
Shares
Dacian Gold (ASX:DCN) - Managing Director, Leigh Junk
Managing Director, Leigh Junk
Source: Mining News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Dacian Gold (DCN) reports an indicated mineral resource for its recently acquired Redcliffe Project following a resource definition drilling effort
  • The company executed 18 drill holes as part or the programme for 3489 metres
  • The campaign has resulted in an indicated mineral resource of 530,000 tonnes at 4.7 grams of gold per tonne for 80,000 ounces
  • It brings the total updated mineral resource — some 80 kilometres from its Mt Morgans processing plant — to 1.1 million tonnes at 3.9g/t for 139,000 ounces
  • Dacian Gold shares are down 1.82 per cent and trading at 27 cents

Dacian Gold (DCN) has reported an indicated mineral resource for its recently acquired Redcliffe Project following a resource definition drilling effort.

The company executed 17 diamond drill holes and one reverse circulation pre-collar with a diamond drill tail for 3489 metres ahead of further mining studies.

The campaign has resulted in an indicated mineral resource of 530,000 tonnes at 4.7 grams of gold per tonne for 80,000 ounces and a total updated Hub mineral resource estimate of 1.1 million tonnes at 3.9g/t for 139,000 ounces.

Hub is located in the southern Redcliffe tenements located approximately 80 kilometres from the Mt Morgans processing plant.

Broadly, the company said the results have improved its geological understanding of the project.

Dacian Gold Managing Director Leigh Junk said the upgrade was an excellent result for the company.

“We are continuing with this work across all of the other Redcliffe mineral resources ahead of our upcoming life-of-mine plan with the goal of diversifying our production and improving our operational flexibility from this second mining centre,” he said.

Dacian Gold shares are down 1.82 per cent and trading at 27 cents at 2:52 pm AEST.

DCN by the numbers
More From The Market Herald

" Beacon Minerals (ASX:BCN) declares fully franked dividend

Beacon Minerals (BCN) has declared a fully franked dividend of 0.125 cents per share.

" Alchemy’s (ASX:ALY) subsidiary wins tenement ballots at Lake Rebecca

Alchemy Resources’ (ALY) subsidiary, Goldtribe Corporation, has won ballots for three exploration licence applications within ALY’s Lake Rebecca Project in Western Australia.

" Tigers Realm Coal (ASX:TIG) recounts positive September quarter

Tigers Realm Coal (TIG) has released its quarterly report for the three months ending September 30.

" Chase Mining’s (ASX:CML) Red Fox applies for more tenements in Queensland

Chase Mining’s (CML) 40 per cent-owned company Red Fox Resources has applied for another three exploration permits in northwest Queensland.