Dacian ahead of schedule at Mt Morgans

Shares in newly-listed explorer Dacian Gold have jumped on the ASX, after the company commenced drilling at its Mt Morgans gold project near Laverton ahead of schedule.

Dacian announced today that reverse circulation drilling had commenced at Mt Morgans, which contains an 840,000 ounce JORC-compliant gold resource.

By close of trade today, Dacian’s stocks had gained 8.7 per cent, to finish trade at 68.5 cents.

“We are excited to have commenced drilling so soon after listing,” Dacian managing director Paul Payne said.

“It demonstrates the ease of operating in the very well-serviced Laverton district.

“Our exploration team is now busy planning work at a number of other high grade targets where drilling will continue throughout 2013.”

Dacian is already ahead of schedule on its plans for Mt Morgans, after it initially expected to list on the ASX in December after launching its initial public offering early this month.

The $20 million float was the year’s largest for gold, and the 10^th listing for Perth this financial year.

The company is chaired by former Avoca Resources boss Rohan Williams.