Dart Mining has declared a substantial Exploration Target at its Triumph Gold Project, alongside promising high-grade assay results from its Coonambula Antimony-Gold Project and an expanded gold zone at New Constitution.
- Triumph Gold Project Exploration Target of 5.1-7.6 Mt @ 1.72-2.52 g/t Au, base case 506,800oz gold
- New Constitution gold zone widened to 170m with multiple new parallel lodes discovered
- High-grade antimony, gold, and silver assays from Coonambula’s historic Banshee Mine drilling
- Ongoing IP survey at Banshee highlights new chargeability anomalies for follow-up
- Company ends quarter with $403,000 cash, proposes capital raise to fund exploration
A Robust Exploration Target at Triumph
Dart Mining NL (ASX, DTM) has taken a significant step forward in defining the scale of its flagship Triumph Gold Project in Queensland. The company declared an Exploration Target ranging from 5.1 to 7.6 million tonnes grading between 1.72 and 2.52 grams per tonne gold, translating to a potential 285,100 to 613,200 ounces of gold. The base case estimate stands at 6.9 million tonnes at 2.29 g/t gold, or approximately 506,800 ounces. This target is in addition to the previously reported JORC Mineral Resource of 150,000 ounces, indicating substantial upside potential.
Importantly, about 80% of this Exploration Target is classified as open pit material within 200 metres of surface, making it accessible for mining, while the remainder lies at greater depths, offering underground mining opportunities. The target is underpinned by a robust drill database, with 216 drill hole intercepts supporting the interpretation of new lodes and extensions to known deposits such as New Constitution, South Constitution, and Big Hans.
Expansion of New Constitution Gold Zone
Drilling results from late 2025 have confirmed a significant widening of the New Constitution gold zone, now extending to 170 metres in width at one location, up from previous estimates. The standout drill hole TRDD014 intersected multiple new parallel lodes, including high-grade gold and silver assays such as 0.5 metres at 28.20 g/t gold and 121 g/t silver. These findings not only extend the known mineralisation but also reveal broad mineralised zones that had not been previously identified.
The discovery of these new lodes and the extension of mineralisation at depth highlight the potential for the Triumph project to evolve into a million-ounce gold deposit, a milestone that would significantly enhance Dart Mining’s profile in the Australian gold sector.
High-Grade Assays at Coonambula Antimony-Gold Project
Meanwhile, Dart’s joint venture at the Coonambula Antimony-Gold Project in Central Queensland has yielded encouraging results. The company completed 14 diamond drill holes at the historic Banshee Antimony Mine, with assays confirming high-grade antimony, gold, and silver mineralisation. Highlights include 5 metres at 4.33% antimony, 1.69 g/t gold, and 23.65 g/t silver, and narrower intervals with exceptionally high antimony grades exceeding 30%.
These results are particularly notable given the combination of antimony and gold, metals that can complement each other economically. Dart is actively pursuing a JORC-compliant resource at Banshee, with ongoing drilling aimed at infilling high-grade zones and expanding the mineralised footprint.
Supporting Geophysical Surveys and Victorian Prospects
An induced polarisation (IP) geophysical survey at Banshee has identified new chargeability anomalies extending beyond historical drilling, suggesting further mineralisation at depth and along strike. Dart plans to integrate these geophysical insights with drilling results to refine exploration targets.
In Victoria, drilling at the Phoenix Reef prospect within the Rushworth Goldfield has confirmed wide zones of gold mineralisation within a stacked lode system. Assays include 12.8 metres at 1.75 g/t gold and multiple narrower high-grade intersections, reinforcing the prospectivity of this historic goldfield.
Financial Position and Outlook
Despite these exploration successes, Dart Mining ended the December quarter with a modest cash balance of approximately $403,000 and reported negative operating cash flow. The company has proposed a capital raising to fund its ambitious 30,000-metre drilling program at Triumph and ongoing activities at Coonambula and other projects.
Chairman James Chirnside expressed optimism about the year ahead, highlighting the potential for resource growth at Triumph and the exciting high-grade discoveries at Coonambula. The company is also in advanced discussions to divest several Victorian projects, which could provide additional funding and strategic focus.
Bottom Line?
With a robust Exploration Target and promising assay results, Dart Mining’s next drilling phase will be critical to unlocking value and securing its future funding.
Questions in the middle?
- How will upcoming drill results impact the conversion of the Exploration Target into a JORC Mineral Resource at Triumph?
- What is the potential economic impact of the high silver grades found alongside gold and antimony at Coonambula?
- Can Dart Mining successfully execute its proposed capital raise to sustain its aggressive exploration programs?