DRAGON MOUNTAIN GOLD LIMITED
Developments at Lixian Project
DMG - Quarterly Report - Mr Andrew Richards, MD
Fri, 1 Aug 2008 04:00PM
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Andrew Richards
Fri, 1 Aug 2008
04:00PM Australia/NSW
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DRAGON MOUNTAIN GOLD LIMITED (DMG)
ASX code: DMG
Website: http://www.dragonmountain.com.au
Industry: Materials
Principal Activities:
Gold exploration
Address:
62 - 64 Ord Street, Unit 4
WEST PERTH
WA
Phone: 08 9215 6300
Fax: 08 9481 6799
Executives & Directors
Mr John Hopkins , Non Exec. Chairman
Mr Robert Gardner , Executive Director
Mr Alan Beanland , Non Exec. Director
Mr John Lewis , CFO
Ms Julie Duong , Company Secretary
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
DRAGON MOUNTAIN GOLD LIMITED (DMG) Events
Australia/NSW
DRAGON MOUNTAIN GOLD LIMITED (DMG)
| Drill Results - Jinshan Project | Thu, 4 Dec 2008 |
| Results of 2008 Annual General Meeting | Mon, 1 Dec 2008 |
| Retirement of Non-Executive Director | Thu, 27 Nov 2008 |
| Amended September 2008 Quarterly Activities Report | Wed, 5 Nov 2008 |
| Lixian Project Drill Results | Wed, 5 Nov 2008 |
| Change of Registered Office | Mon, 3 Nov 2008 |
| Newspaper Article | Mon, 3 Nov 2008 |
| Quarterly Activities Report | Fri, 31 Oct 2008 |
| Quarterly Cashflow Report | Fri, 31 Oct 2008 |
| Shareholder Update | Wed, 29 Oct 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH ANDREW RICHARDS, MANAGING DIRECTOR OF DRAGON MOUNTAIN GOLD LIMITED (DMG)
“Developments at Lixian Project”
http://www.brr.com.au/event/48893/developments-at-lixian-project
FRIDAY, AUGUST 1, 2008, 4:00 PM.
BRR Good afternoon and welcome to Boardroom Radio. Today, we are speaking with Mr. Andrew Richards, Managing Director of Dragon Mountain Gold.
10 Thank you for joining us today, Andrew.
DMG Thanks very much, Eddie. Good to be here.
BRR Andrew, I guess we could start off by saying congratulations on the anniversary of your listing. What has the first year for Dragon Mountain Gold
15 entailed?
DMG Quite rightly so. Yesterday was the anniversary, the first anniversary of our listing on the ASX. Fortuitously, it also coincided with the release of our quarterly statement and that documents what has been a dramatic year for us. Everyone has worked really hard on site and elsewhere in the corporate
20 and management side and I am glad to say that we have achieved every objective we set for ourselves in the timeframe we said we would. We are in a great position to go forward, but just to recap, of course, we have done a lot of drilling, prioritised our resource. We have announced a JORC compliant inferred resource of 1.1 million ounces that is open in all directions. It really is
25 going to grow, no doubt about that, and that is just one small part of the whole area. But we have also been able to establish that this mineralisation extends elsewhere throughout our lease areas. We are also happy to say that we have submitted a mining area demarcation application as we said we would, and that commenced the process of obtaining a mining license for our stage 1
30 operation. That, I guess, is the highlight of where we are at, but underpinning all of that, we have got a very well-established network on the ground now, a good infrastructure of people and services, and we were just pleased, most recently from a tour we did of China and government at all levels, we have received the strongest endorsement support from the highest levels of
35 government and that was very reassuring. We just see the future is going ahead really well.
BRR As you briefly touched on, Andrew, the anniversary coincides with the release of your quarterly report and we read through there that there have been some
40 strong developments at the Lixian Project. What have been these developments and what can you tell our listeners?
DMG We have confirmed the surface (inaudible) (0:02:00) mineralisation and we have also confirmed that the resource that we have already outlined in that area where there was a previous Chinese mineralisation outline, we have
45 increased that by almost two-and-a-half times and it is still open literally in every direction, every direction except up which is obviously because it has had cropping, but it is wide. We have also established that while overall the low cut-off we announced is 1.8 grams as an average grade, by increasing the cut-off grade, that actually dramatically increases quite significantly and still contains a lot of gold. We have also identified within that there is a very strong core of high-grade mineralisation which where it goes to the eastern boundary is 36 metres wide on average over the full length of the eastern boundary. That is a very large high-grade zone and will enhance the
5 economics of the project in both open pit and underground. What is also interesting through our investigational work on that area is that not only will that deposit with JORC resource extend to the east and west, but in the footwall and hanging wall which we have excluded for the purpose of getting this first where JORC resource at. This is a repetition of that mineralisation
10 which we have to look at in more detail as well and that is certainly going to be the object of our studies over the next few months.
BRR Andrew, Dragon Mountain Gold has initiated the process of obtaining its mining license, what does this mean for Dragon Mountain Gold and what
15 does the future hold?
DMG The stage 1 of our mine and plant is a relatively small scale plant. It is our first stage to our ambition of getting to be a plus 100,000 ounce per year producer. But in the environment we are in, we have to start a little small and we are doing that now to fast track ourselves towards production. The mining
20 area demarcation application actually outlines the area that we want to occupy for our mining lease. We understand that is progressing well, and as soon as that is done, it is the first step towards getting the granting of our mining license.
25 BRR Definitely some encouraging news there, Andrew, coming out of the quarterly report and also the anniversary for Dragon Mountain Gold. That was Mr. Andrew Richards, Managing Director of Dragon Mountain Gold. If you have any questions about this broadcast or any other broadcast, please feel free to contact us on brr@brr.com.au. I am Eddie (inaudible) (0:04:20) and thank you for listening to Boardroom Radio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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