Great Bear Resources

Dacian Gold: Mt Morgans Gold Project Update - On Time And On Budget

West Perth, WA / January 11, 2018 / JMN Wire / Dacian Gold Ltd (ASX: DCN) (Dacian Gold or the Company) is pleased to report on the excellent progress being made at its 100%‐owned Mount Morgans Gold Project, located near Laverton in Western Australia, and provide photos of the near‐completed processing plant and recent mining activity.

The project’s current development status is:

  • Construction of the 2.5Mtpa CIL treatment plant is now more than 90% complete and is on schedule and on budget;
  • The high‐pressure gas pipeline, which connects the Eastern Goldfields Pipeline to the gasreceiving infrastructure being constructed at the Mt Morgans power station, has been installed;
  • Underground mining at Beresford and Allanson is now 873m ahead of the Feasibility Study mining schedule, with ore now intersected on five separate levels at Beresford and ore development having commenced on several levels;
  • Mining has commenced at Dacian’s second mining centre, the Jupiter Open Pit, with the first blast at Heffernan’s Hill occurring on 29 December 2017;
  • More than 40km of grade control drilling has been completed with 563 surface RC holes for over 15.5km at Jupiter and 224 underground diamond drill holes for over 26.5km completed at Beresford;
  • Recruitment of operational personnel is progressing well: all 37 roles at the treatment plant (including maintenance personnel) have been filled. Dacian is pleased to advise that some of these positions have been filled by members of the nearby Mt Margaret community.
  • RC resource drilling for the oxide mineralisation at Cameron Well is almost complete, with the first results to be released to the market in the coming weeks;

“Thanks to the outstanding work by our staff and contractors, Dacian has achieved what we said we would do,” Mr Williams said. “We remain on time and on budget, which means the project is being de‐risked by the day and we are getting closer to production and cash‐flow by the day. At the same time, we are pushing ahead with our near‐mine exploration campaign. We are very positive about the opportunity at Cameron Well and we look forward to the results from the initial resource drillout currently being completed.”

Dacian Gold Ltd 1 11 2018

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Dacian Gold

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