Australia-based explorer Dampier Gold Limited (ASX:DAU) is positioning itself to be among the next generation of Australian gold producers. The Company is evaluating and exploring 700km² of the Plutonic-Marymia Greenstone Belt in central Western Australia with a view to near-term gold production.
In a presentation to investors Dampier Gold CEO Richard Hay outlines the investment case for the company including its advanced project pipeline, discovery potential and fast track and low capex path to production, underpinned by Barrick’s Plutonic processing facility.
PLUTONIC DOME PROJECT OVERVIEWThe Plutonic Dome project covers the majority of the Plutonic - Marymia greenstone belt and a portion of the smaller Baumgarten greenstone belt to the east.
Fast track-low capex path to productionDampier has secured framework terms for ore purchase agreements with Barrick to access the plant and has also been granted mining leases and established haul roads and environmental compliance history.
Advanced project pipelineDampier has established a mineral resource base with a total mineral resource of 627,500 ounces of gold and says opportunities exist along strike and down dip of most deposits. The company’s K2 deposit is its most advanced development opportunity with the highest grade open pit mine. The Cinnamon deposit is an underdeveloped open pit opportunity, prospective for additional open pit mineralisation.
Discovery potentialMr Hay believes “wonderful discovery potential exists” in the company’s “dominant and extensive” land holding position. The land holding includes under-explorer mineralised corridors in addition to identified gold anomalies and the emerging copper potential at its Apex prospect. At Apex, two priority drill targets have been defined with drill testing now imminent.