Dart Mining's Promising Gold Discoveries at Rushworth Goldfield
DTM (DTM) Share Update July 2024 Monday 22nd
Dart Mining Announces High-Grade Gold Results at Rushworth Goldfield
Dart Mining NL (ASX:DTM) has announced promising high-grade gold results from their ongoing Phase 2 diamond drilling program at the Rushworth Goldfield. This development marks a significant step in refining their mineral systems model and highlights the potential for substantial gold deposits in the area.
Instant Summary:
- 799m of the planned 1,630m of diamond drilling completed.
- SWDD004 intersected 0.24m @ 8.8g/t Au from 56.2m downhole.
- GHDD002 additional sampling returned 0.55m @ 7.48g/t Au from 23.1m downhole.
- Potential for multiple stacked, plunging reefs identified.
- Further assay results expected in the coming weeks.
Drilling Results and Analysis
The initial results from Dart Mining's Phase 2 diamond drilling program at the Rushworth Goldfield have been highly encouraging. The company has completed 799 meters of the planned 1,630 meters of drilling, focusing on the Star of the West and Henry Horne prospects. These results have confirmed the presence of high-grade gold mineralization, supporting the company's Mineral Systems Model.
One of the standout results came from drill hole SWDD004, which intersected several zones of sulphide mineralization. Notably, it returned 0.24 meters at 8.8 grams per ton (g/t) of gold from 56.2 meters downhole within a broader zone of sulphide mineralization that averaged 7.1 meters at 0.75 g/t Au from 50.8 meters. Additionally, SWDD004 intersected 3.6 meters at 0.44 g/t Au from 161.8 meters, including higher-grade sections of 0.2 meters at 2.87 g/t Au and 0.3 meters at 1.45 g/t Au.
Growlers Hill Prospect
Further sampling of drill hole GHDD002 at the Growlers Hill prospect yielded 0.55 meters at 7.48 g/t Au from 23.1 meters downhole. This result, combined with detailed project interpretation, suggests the potential for multiple stacked, plunging reefs within the broader reef channel at Growlers Hill. This finding aligns with historic geological maps that indicate a series of north-south lens-like mineralized quartz structures in the area.
Ongoing Exploration and Future Prospects
Dart Mining's Chairman, James Chirnside, expressed optimism about the ongoing exploration efforts. He highlighted that the high-grade results from reef structures within gold-bearing sulphide zones are a crucial step in refining their mineral systems model. The company is particularly excited about the potential for a stacked reef system at Growlers Hill and the addition of a second prospective target zone within 500 meters at the Star of the West prospect.
The company plans to continue drilling at the Star of the West prospect, with SWDD007 remaining to be drilled. They are also moving their drill rig to the Phoenix Reef area, targeting significant historic mining sites and modern exploration areas. The goal is to test for repeating thrust fault structures at depth below the historic mining and existing exploration.
The confirmation of high-grade gold mineralization at Rushworth Goldfield is a positive development for Dart Mining. This could lead to increased investor confidence and potentially drive up the company's stock price. The identification of multiple prospective target zones and the potential for substantial gold deposits further bolster the company's exploration prospects.
Investor Reaction:
Investors and analysts have responded positively to the announcement, noting the high-grade results and the potential for significant gold deposits. The ongoing exploration efforts and the company's strategic approach to refining their mineral systems model have been well-received.
Conclusion:
Investors should keep a close eye on Dart Mining's future announcements, particularly the forthcoming assay results. The company's continued exploration efforts and the potential for substantial gold deposits at Rushworth Goldfield make it a promising prospect for stock market investors. Stay tuned for further updates and consider the potential long-term impacts on your investment portfolio.