Dart Mining has wrapped up a major 4,100m diamond drilling campaign at the Coonambula project, triggering an increase in its ownership to 45% and revealing promising gold, silver, and antimony grades.
- 4,100m diamond drilling completed over 41 holes at Banshee Prospect
- High-grade assays include 9m at 2.67g/t gold and 5.8% antimony
- Dart Mining to increase project interest to 45%, aiming for 51%
- Ongoing assay results and metallurgical studies to support resource estimate
- Coonambula hosts historical high-grade antimony-gold mineralisation
Drilling Completion Unlocks Increased Project Stake
Dart Mining NL (ASX:DTM) has completed a substantial 4,100-metre diamond core drilling program at the Banshee Prospect within the Coonambula Antimony-Gold Project in Central Queensland. This milestone triggers Dart’s right to increase its project stake to 45% under the existing farm-in joint venture with Great Divide Mining (ASX:GDM). The company is targeting a further 6% ownership boost to a majority 51% upon completion of a Mineral Resource Estimate and metallurgical sighter studies.
Robust Assay Results Highlight Multi-Metal Potential
The drilling encompassed 41 holes averaging 100 metres depth, covering a 730-metre strike and extending to 185 metres vertically. Early assay results, reported up to hole CBADD022, reveal compelling mineralisation with standout intercepts such as 9.0 metres grading 2.67 grams per tonne (g/t) gold, 16.8 g/t silver, and 5.8% antimony from 32.5 metres in CBADD010. Several intervals exceeded 10 g/t gold, and a peak antimony interval hit 44.6% over 0.6 metres.
These results confirm the presence of a polymetallic system combining gold, silver, and antimony mineralisation, consistent with historical mining records at Banshee, one of Central Queensland’s largest historic antimony mines. Dart’s chairman, James Chirnside, emphasised the quality of the assays and the productive partnership with Great Divide Mining, signalling confidence in advancing the project’s development.
Strategic Path Forward for Resource Definition
With the drilling program complete, Dart Mining and its JV partner plan to continue releasing assay results as they come in, alongside metallurgical testing designed to understand ore characteristics and recovery potential. A 3D geological model and a JORC-compliant Mineral Resource Estimate are slated for delivery at the earliest opportunity, subject to assay outcomes.
The project’s geological setting within the New England Fold Belt hosts quartz veins rich in antimony and gold, with mineralisation styles ranging from high-grade antimony-calcite-quartz reefs to gold-arsenopyrite quartz veins. The Banshee and nearby Lady Mary prospects remain high priority targets, with an interpreted continuous mineralised zone between them identified by recent geophysical surveys.
Coonambula’s Place in Dart’s Queensland Ambitions
Coonambula forms a key part of Dart’s strategy to build a regional footprint in Queensland’s intrusion-related and epithermal gold systems. The project lies 390 kilometres north-northwest of Brisbane and near established goldfields like Cracow and Eidsvold. Dart’s broader portfolio also includes the Triumph Gold Project and several Victorian goldfields, positioning the company across promising gold and strategic metal provinces.
While the drilling and assay results to date are encouraging, the full extent and economic viability of the mineralisation remain to be defined pending further assay releases, metallurgical results, and resource modelling. Dart’s progress at Coonambula follows recent strategic moves including a $7.1 million sale of Victorian projects to Indigo Metals, which will help fund ongoing exploration efforts.
Bottom Line?
Dart Mining’s completed drilling at Coonambula secures a larger stake and lays groundwork for a resource estimate, but the final resource size and metallurgy remain key uncertainties.
Questions in the middle?
- How will the pending assay results influence the upcoming Mineral Resource Estimate?
- What recovery rates and ore characteristics will metallurgical testing reveal for antimony and gold?
- Could exploration between Banshee and Lady Mary uncover significant extensions of mineralisation?