Dart Mining NL reported standout high-grade gold, silver, and antimony results from its Queensland projects, alongside key acquisitions and asset sales, as it advances towards a maiden resource estimate at Coonambula.
- Record gold, silver, antimony assays at Coonambula Banshee prospect
- High-grade rock chip samples expand Triumph Gold Project targets
- Strategic Skarn Ridge acquisition enhances Queensland footprint
- Sale agreements progress for Victorian non-core assets
- Cash position tight; capital raise planned to fund exploration
Record High-Grade Assays Define Coonambula’s Banshee Prospect
Dart Mining NL (ASX:DTM) has unveiled a series of exceptional assay results from its ongoing diamond drilling at the Coonambula Antimony-Gold Project in Central Queensland. The standout intercept comes from hole CBADD010, which returned 0.2 metres at 20.20 g/t gold and a staggering 44.6% antimony between 37.7m and 38.3m depth, marking the highest gold and antimony grades recorded to date at Banshee. Complementing this, silver assays peaked at 234 g/t over 0.6 metres in CBADD004, underscoring the polymetallic nature of the mineralisation.
These results confirm a robust Au-Ag-Sb system with mineralisation extending over a strike length exceeding 2 kilometres, supported by a recent Induced Polarisation (IP) geophysical survey co-funded by the Queensland Government’s Collaborative Exploration Initiative. The IP survey has delineated a subtle chargeability trend consistent with the Banshee mineralised corridor, highlighting extensions towards the historic Lady Mary Antimony mine and identifying new off-trend chargeability anomalies yet to be drilled. This geophysical data provides a strong framework for targeting future drilling campaigns and expanding the resource footprint.
Triumph Gold Project Rock Chips Expand High-Grade Zones
At the Triumph Gold Project, Dart Mining’s recent rock chip sampling has yielded remarkable grades, with assays up to 109 g/t gold and 105 g/t silver from the Chandlers lode and 73 g/t gold with 45 g/t silver at the Spotted Gum prospect. These results extend the known mineralisation east of the Norton Mine and reinforce the potential of the Northern Corridor for resource growth.
Importantly, reinterpretation of historical RC drilling and field reconnaissance at the Advance prospect within Triumph has identified it as a priority target for upcoming diamond drilling. The prospect hosts structurally controlled, high-grade gold mineralisation that remains underexplored, suggesting meaningful upside beyond the current inferred resource of 2.16 Mt at 2.17 g/t gold for 150,000 ounces. This exploration momentum aligns with Dart’s strategy to unlock additional ounces in Queensland’s intrusion-related gold systems. These findings build on the company’s prior new high-grade gold zones reported last quarter.
Skarn Ridge Acquisition Bolsters Base and Critical Metals Portfolio
Dart Mining also completed a strategic acquisition of the Skarn Ridge Copper-Gold and Mt Bauple Graphite projects in southeast Queensland for AUD 25,000. The projects, located within the Mt Perry–Electra Fault Zone, include historic drilling intercepts such as 4m at 0.5 g/t gold and rock chip assays up to 5.14% copper with associated silver and gold. This acquisition complements Dart’s existing Queensland portfolio, enhancing its exposure to precious, base, and critical metals in a historically mineralised region. The move follows the company’s recent Skarn Ridge acquisition and signals a broader regional growth strategy.
Portfolio Rationalisation with Victorian Asset Sales
In line with focusing on core assets, Dart Mining has entered into binding agreements to divest several Victorian projects. The Buckland Gold Project was sold to Daybreak Minerals for $300,000 cash, with Dart retaining rights to provide drilling services. Additionally, a non-binding term sheet with Indigo Metals Limited covers the sale of the Mt Unicorn, Sandy Creek, and Tallandoon projects for $7 million plus shares, with Dart retaining a 2.5% net smelter royalty on antimony production from Sandy Creek and Tallandoon. These transactions aim to streamline the portfolio and raise funds for advancing Queensland projects, building on the company’s recent Buckland sale.
Financial Position and Funding Outlook
Despite the exploration successes, Dart Mining’s cash position tightened to approximately $139,000 at quarter-end, with net cash outflows from operations and investing activities reflecting ongoing drilling and evaluation costs. The company acknowledges funding constraints, with less than one quarter of operating funding available, but directors express confidence in a forthcoming capital raise to support continued exploration and resource development. This funding is critical as Dart progresses towards a maiden Mineral Resource Estimate (MRE) at Coonambula, supported by metallurgical test work and further drilling.
Bottom Line?
Dart Mining’s robust assay results and strategic deals position it well for Queensland growth, but funding remains a pressing challenge ahead of a maiden resource estimate.
Questions in the middle?
- Will Dart Mining’s planned capital raise secure sufficient funds to sustain its accelerated exploration?
- How will the polymetallic nature of Coonambula’s mineralisation influence future processing and project economics?
- Can the Advance prospect at Triumph deliver a meaningful resource addition beyond the current inferred estimate?