ASX Announcement
4 September 2015
DEFLECTOR PROJECT UPDATE
Doray Minerals Limited (ASX:DRM, Doray) is pleased to provide an update on construction and development progress at the Company's 100% owned Deflector Gold Project (Deflector) in the southern Murchison region of Western Australia.
The Deflector Gold Project is a high-grade, low-cost gold-copper deposit with an initial mine life of six years and significant exploration potential. Doray will leverage its recent development expertise from the Andy Well Gold Project to optimise the construction, development and operation of Deflector and is targeting production of 150-160,000kozpa (AuEq) with an average All-in sustaining cost of
Funding Confirmed
The Company recently announced that it had secured funding for all construction and development expenses for the Deflector Project (see ASX release dated 31 August 2015).
Construction Progress
Following receipt of the final required approval, construction activities have recently commenced on site, including pouring of concrete footings for the primary and secondary crushing circuits, Fine Ore Bin, mill and floatation circuit.
Other activities include:
Refurbishment of the existing Gullewa accommodation village for use as a construction camp
Dewatering of existing open pits in preparation for open pit grade control drilling
Site works at the new Deflector accommodation village in preparation for installation of new accommodation blocks
Upgrading of the 6km access road linking Deflector with the sealed Morawa-Yalgoo road, along with new village access road.
All long lead time items, including mill, filter press and flotation cells have been ordered, to comply with the current construction timeline.
Gold-Copper Concentrate Off-take
The Company is in discussion with a number of potential off-take partners and expects to be able to announce the results of these negotiations in the near future.
-ENDS-
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Figure 1. Concrete footings for primary crusher.
Doray Minerals Ltd, 4 September 2015
Figure 2. Concrete footings for Fine Ore Bin and emergency feed hopper.
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Doray Minerals Ltd, 4 September 2015
Figure 3. Concrete footings for mill plinth and floatation circuit.
Figure 4. Site works at accommodation village in preparation for installation of accommodation units.
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Doray Minerals Ltd, 4 September 2015
For further information, please contact:
Allan Kelly Margie Livingston
Managing Director Associate
Doray Minerals Limited AMN Corporate
+61 (08) 9226 0600 +61 (0)438 661 131 [email protected][email protected]
About Doray Minerals Limited
Doray Minerals Limited is an Australian gold producer, developer and explorer with two high-grade Western Australian gold assets: the operating Andy Well Gold Project (Andy Well); and the Deflector Gold Project (Deflector), which is due to commence production in mid-2016, following completion of development and construction.
Doray has a strategic portfolio of gold exploration properties within Western Australia and South Australia and each presents multiple discovery opportunities. The Company's Board and management team has a proven track record in discovery, development, and production.
ASX:DRM