Perth, Australia (ABN Newswire) -
Dacian Gold Ltd. ("Dacian" or "the Company") (ASX:DCN) is pleased to announce a new drilling result from the Ramornie project on its 100% owned Mt Morgans Gold Project, located 40km west of Laverton in Western Australia's north-eastern goldfields.
A key exploration objective for Dacian in FY2015 is to better understand the potential size of the Westralia ore system. As part of this objective, Dacian commenced a 14 hole 9,000m Westralia framework diamond drilling program aimed at testing a 3km strike of the highly prospective Westralia BIF.
Drilling targeted the BIF horizon along strike and below the defined ore positions at Westralia, at depths of between 150 and 700m below the surface. One of the drill holes completed, 14MMRD022, passed through the projected position of the Ramornie shear zone below the Ramornie open pit. The drill hole returned a significant intersection 175m below the previous deepest drill intersection at Ramornie and is located approximately 400m into the hangingwall of the Westralia BIF, (see Figures 1 and 2).
New Ramornie Drill Hole Intersection
The new Ramornie intersection within drill hole 14MMRD022 returned:
- 25.9m at 2.4 g/t Au from 335m; including
- 13.9m at 3.7g/t Au from 347m; or
- 4.4m at 6.8g/t Au from 356.5m.
Figure 2 is a cross section showing the location of the new Ramornie intersection in 14MMRD022 beneath the previously drilled holes. Significantly, the new intersection is 175m below the previous holes and confirms strong continuity of moderate width and high grade for in excess of 400m of dip extent.
The intersection also confirms excellent potential exists for discovering new mineralisation immediately beneath the 700m strike extent of the Ramornie Structure which is host to two small historically mined open pits (see Figure 1). The geology observed in the 14MMRD022 intersection is very similar in appearance to the biotite-pyrite altered shear zone seen in the open pits, and along the 2km trend defined as the Transvaal - Ramornie Corridor (see also Figure 1 in link below).
The drill results are further described in Table 1 and Appendix I of this announcement. (link below)
Summary and Next Steps
Dacian is presently preparing an exploration update of the major 9,000m Westralia framework drilling program as well as compiling the last results of the 56 hole RC drilling program recently completed at Jupiter. Following the release of these drilling results, Dacian will reprioritise its infill drilling programs for the December quarter activities. It is expected that infill drilling in and around this new Ramornie intersection will be part of the ongoing exploration activities.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-DCN-694247.pdf
About Dacian Gold Limited:
Dacian Gold Ltd. (ASX:DCN) is a well-funded, Western Australian focused gold exploration and development company, headquartered in Perth. In November 2012, the company raised $20 million in its IPO to explore its 100% owned Mt Morgans gold project, located in the Laverton District of Western Australia's North Eastern Goldfields.
Contact:
Dacian Gold Ltd.
Rohan Williams, Executive Chairman
T: +61-8-9226-4622
E: rohan.williams@daciangold.com.au
www.daciangold.com.au
