Dacian eyes high-grade production source

Dacian Gold will update the resource for its Phoenix Ridge discovery early next year after drilling confirmed the continuity of high-grade mineralisation (reports MiningNews).
29th November 2019
Resources Rising Stars

Dacian Gold will update the resource for its Phoenix Ridge discovery early next year after drilling confirmed the continuity of high-grade mineralisation (reports MiningNews).

The 40m by 40m infill drilling program returned 23.1m at 30.2 grams per tonne gold from 266.9m; 19.1m at 5.1gpt gold from 223.6m; 2.4m at 47.5gpt gold from 313.4m; and 10.2m at 3gpt from 235.6m.

The program also confirmed a new parallel high-grade shoot less than 50m away from the Phoenix Ridge maiden resource of 125,000oz at 8.1gpt, announced last month.

Results included 2.95m at 17.7gpt gold from 300.9m; 7.75m at 8.3gpt from 202.2m; 4.35m at 4.8gpt gold from 166.6m; 1.4m at 9gpt gold from 218.5m; and 1.6m at 6.2gpt from 308.6m.

The shoot has been defined over a 350m plunge extent and remains open at depth.

Drilling to test the up-plunge and near-surface potential of Phoenix Ridge will begin before the end of the year.

Dacian executive chairman Rohan Williams said the results reinforced the potential for Phoenix Ridge to be a new high-grade production source at the Mt Morgans operation outside Laverton.

"If the three key focus areas for ongoing drilling focus continue to yield positive results, we are confident there is an excellent opportunity to bring Phoenix Ridge into the near-term production schedule at Mt Morgans," he said.

Read more at https://www.miningnews.net/resource-definition/news/1376421/dacian-eyes-high-grade-production-source

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