Dart Mining Secures 865km2 Yamarna Gold Project and $2M Placement
Dart Mining (ASX:DTM) has agreed to acquire a large, underexplored gold and lithium project near the Gruyere mine in WA’s Yamarna district, backed by a $2 million capital raise to fund exploration and acquisition costs.
- 865km2 gold and lithium project acquisition near Gruyere
- Acquisition via cash, shares, options, and 1% royalty
- Firm $2 million placement secured with director participation
- Historical data reveals significant gold and lithium anomalies
- Systematic exploration and drilling planned post-acquisition
District-Scale Gold and Lithium Opportunity in Yamarna
Dart Mining NL (ASX:DTM) is stepping up its presence in Western Australia’s premier gold belt with a binding agreement to acquire 100% of a tenement package spanning 865 square kilometres in the Yamarna district. The project area, split between Yamarna South (320km2) and Yamarna North (545km2), sits just 25 kilometres west of Goldfields’ 8 million ounce Gruyere Gold Mine, placing Dart squarely in a highly prospective geological setting.
The acquisition targets both gold and lithium, leveraging large-scale tenure along the Yamarna Shear Zone and greenstone belt structures known for hosting significant mineralisation. Despite the proximity to major operations and the district’s rich endowment, the project remains substantially underexplored, with historical datasets revealing broad geochemical anomalies and pathfinder elements indicative of hydrothermal systems.
Acquisition Terms Combine Cash, Equity and Royalty
Dart Mining’s acquisition of EE II Pty Ltd and EE IV Pty Ltd, which collectively hold one granted exploration licence and seven applications, involves a low-cost, equity-aligned structure. The upfront consideration includes a $50,000 cash payment and approximately 37.6 million Dart shares valued at $320,000, subject to shareholder approval. Additionally, 18.8 million unquoted options will be issued, and a 1% net smelter return royalty granted to the vendors.
The deferred consideration shares relating to the seven pending tenements will be issued in tranches upon grant or disposal of each licence, introducing conditionality but aligning incentives. The acquisition remains subject to due diligence, shareholder approvals, and execution of a royalty deed, with completion expected shortly after a general meeting planned for late September 2026.
$2 Million Placement to Fuel Exploration and Growth
Backing the acquisition and broader exploration ambitions, Dart Mining has secured firm commitments for a $2 million placement at $0.0085 per share, representing a discount of around 23% to recent prices. The raise will be conducted in two tranches, with the second tranche contingent on shareholder approval. Directors are participating for $60,000, signalling alignment with shareholders.
Placement participants will also receive free-attaching options exercisable at $0.011, expiring in 2029, subject to approval. Joint lead managers Discovery Capital Partners and Zerp Capital will receive shares and options as partial fees and referral incentives.
Historical Data Highlights Multiple Targets for Drilling
Historical exploration across Yamarna South and North outlines compelling targets. At Yamarna South, a broad-spaced auger survey defined a greater than 20-kilometre-long gold-in-soil trend, complemented by pathfinder elements such as molybdenum, arsenic, and bismuth suggesting large hydrothermal systems. Elevated lithium, rubidium, cesium, and niobium values hint at pegmatite potential for lithium; a dual commodity play.
Yamarna North hosts multiple advanced gold targets obscured by shallow sand cover, including high-grade rock chips up to 36.8 g/t gold at Sail & Anchor and soil anomalies exceeding 10 ppb gold over hundreds of metres. Magnetic “bullseye” anomalies interpreted as granitoid intrusions add an intrusion-related gold system dimension. Previous drilling was limited and ineffective due to wide spacing and cover, underscoring the need for systematic modern exploration.
Next Steps and Technical Expertise
Dart Mining plans to commence infill auger sampling, geophysical surveys, and first-pass aircore drilling to refine and test priority targets. Cain Fogarty, director of the acquired entities and a qualified geoscientist, is expected to join Dart as a technical advisor, bringing continuity and expertise to the exploration program.
The company’s approach reflects a methodical, model-driven strategy aimed at unlocking the project’s potential in a Tier-1 jurisdiction. While the acquisition and placement are subject to shareholder approval and due diligence, the deal positions Dart Mining to build a significant gold and lithium pipeline in a proven mineral province.
Bottom Line?
Dart Mining’s acquisition and $2 million placement set the stage for a focused exploration campaign in a highly prospective but underexplored WA gold district, with results over the coming months critical to validating the project’s potential.
Questions in the middle?
- Will the shareholder meeting in late September approve the acquisition and placement as planned?
- How will initial exploration and drilling results shape Dart Mining’s valuation and strategy?
- Could lithium potential alongside gold add meaningful value to the Yamarna project’s economics?
