Dacian Gold reports 1.4Moz resource for Jupiter

JOHANNESBURG (miningweekly.com) – ASX-listed Dacian Gold’s Jupiter prospect, which forms part of its 100%-owned Mount Morgans gold project, in Western Australia, has seen a 19% increase in mineral resources, to 1.4-million ounces.

The miner on Tuesday reported that the 207 000 oz increase from the Doublejay, Hefferans and Ganymede deposits stemmed from recently completed drilling programmes, conducted between September 2015 and May this year.

Marking it as a “key milestone in its strategy to become Australia’s next significant mid-tier gold producer”, the company said that it had seen a 69% increase in the measured and indicated mineral resources since 2013.

Dacian Gold executive chairperson Rohan Williams said the achievement was an outstanding result, which reflected the success of its 2016 drilling programme.

“We expect to continue to rapidly advance of our development strategy with strong news-flow leading up to completion of the feasibility study in the December quarter. This will include imminent resource upgrades for Westralia and a maiden ore reserve for Jupiter, plus we also expect to start drilling the highly promising Callisto target.”

Dacian Gold first started drilling at its Jupiter prospect in September 2013 when the defined mineral resource stood at 73 000 oz. 

Meanwhile, the miner also reported that mineral resource updates for the nearby Westralia prospect, comprising the Westralia underground and the Morgans underground, were on track for release later this month.

The new mineral resource incorporated drill results from the recently completed drilling programme which comprised 313 reverse circulation drill holes, for 34 000 m, and 37 diamond drill holes.  The key aim of this drill programme was to in-fill drill the Jupiter prospect mineral resource to 40 m x 40m centres, with a view to increase the measured and indicated resource proportion of the overall resource estimate.