Cameron Well

Cameron Well is situated midway between the Company’s Westralia and Jupiter mining areas at Mt Morgans. It lies only 9km to the north‐west of the operation’s 2.5Mtpa CIL treatment plant.

Dacian Gold first commenced reconnaissance aircore drilling at Cameron Well in September 2016. Over the course of the following 14 months, Dacian Gold completed 855 reconnaissance aircore drill holes which confirm a large, approximately 6km2 near‐surface regolith gold anomaly. The regolith anomaly is centred around a 1.1km diameter circular magnetic feature that defined the Cameron Well Syenite Complex (see Figure 1).

Following the results of the 50m‐spaced aircore program, the Company completed an initial 6‐hole diamond drill program beneath several of the more prominent regolith gold anomalies. Diamond drilling confirmed a number of in-situ, fresh rock mineralisation styles. The Company proceeded to infill‐drill the remainder of the 6km2 oxide gold anomaly with an additional 542, mostly 50m‐spaced, aircore drill holes. This second air core program helped to further define a number of prominent regolith gold targets.

Between 2017 and 2019, the Company completed a number of RC drilling programs, primarily focussed on the definition of a shallow oxide mineralisation. A small number of additional diamond drill holes were also completed during this period to confirm the orientation of mineralisation identified through RC drilling.

The current Mineral Resource Estimate for Cameron Well, stands at 2.9Mt @ 1.1g/t Au for 105,000oz (see ASX release 27 February 2020).

A two-stage strategy has been developed to continue exploration at Cameron Well during FY2021. The first stage includes targeted RC programs designed to test the remaining geochemical anomalies not previously drilled.  In addition, an AC program will be undertaken to extend reconnaissance drilling further south onto the southern portion of M39/1122 along strike of the Mt Marven Shear Zone (MMSZ). The aim of these RC and AC programs is to rapidly delineate additional open pit opportunities.

The second stage of the proposed exploration strategy across Cameron Well will be the completion of both broad spaced and targeted diamond drilling with the aim of:

  • Understanding the broader structural framework that has produced several mineralised orientations across the project
  • The timing of syenite intrusion relative to mineralised structures
  • Investigate the influence of the MMSZ across the east side of the project

Please refer to the Company’s ASX releases for more detail on the Cameron Well project.

Figure 1: The circular magnetic anomaly that defines the Cameron Well Syenite Complex. Note the central core of the magnetic anomaly, from where mineralised rock chips have been collected (assay grades shown), is outcropping syenite. The Cameron Well Syenite Complex measures 1.1km in diameter.