Dart Mining Expands Gold-Antimony Exploration in Queensland
DART MINING NL (DTM) Share Update September 2024 Tuesday 24th
Dart Mining Expands Exploration with New Permit in Queensland
Dart Mining NL (ASX:DTM) has announced the application for a new Exploration Permit Minerals (EPM 29097), which adjoins its recently acquired Triumph Gold Project in Central Queensland. The company is optimistic about the gold and antimony potential of this new area.
Instant Summary:
- New EPM 29097 covers 320 km² adjoining the Triumph Gold Project.
- The area is prospective for gold-antimony vein hosted mineralization.
- Historic Ubobo Creek Antimony Mine is within the Triumph Gold Project.
- The region hosts significant gold-antimony resources, including the Hillgrove mine.
- Dart Mining plans to commence drilling in November 2024.
Expansion Details
Dart Mining NL has taken a significant step by applying for a new Exploration Permit Minerals (EPM 29097) that adjoins its Triumph Gold Project in Central Queensland. The permit covers an extensive area of 320 km² in the New England Orogen, known for its rich mineral deposits.
The New England Orogen is highly prospective for intrusion-related gold systems, porphyry copper-gold-molybdenum, and gold-antimony vein hosted mineralization. This region includes the historic Ubobo Creek Antimony Mine, which lies within the southern part of the Triumph Gold Project.
Geological Context
The EPM 29097 area is characterized by Devonian-Carboniferous metasediments and Permo-Triassic granitoids, including the Miriam Vale Granodiorite and Castletower Granite. These geological formations are known for hosting significant quartz vein hosted gold-antimony mineralization.
Historic mines in the region, such as the Hillgrove gold-antimony mine, underscore the area's potential. Hillgrove, operated by Lavrotto Resources, boasts a resource of over 1 million ounces of gold and ranks among the top ten global antimony resources.
Strategic Importance
Dart Mining's Chairman, James Chirnside, expressed enthusiasm about the new permit, highlighting the region's potential for substantial gold deposits. The company believes that Queensland's favorable geological conditions will complement its existing projects in Victoria.
At the Triumph Gold Project, Dart Mining plans to finalize the acquisition and transfer of tenements from Sunshine Metals, update the Mineral Resource Estimate, and commence a drilling program in November 2024. The company also aims to identify additional exploration targets within the new permit area.
The announcement of the new exploration permit is likely to have a positive impact on Dart Mining's stock. The potential for significant gold and antimony deposits in the new permit area could enhance the company's resource base and attract investor interest. The planned drilling program and strategic expansion into Queensland further strengthen Dart Mining's growth prospects.
Investor Reaction:
Analysts are expected to react positively to Dart Mining's strategic move to expand its exploration activities in Queensland. The region's proven gold-antimony potential and the company's proactive approach to modern exploration techniques are likely to bolster investor confidence. However, the actual impact on the stock will depend on the results of the upcoming drilling program and resource estimates.
Conclusion:
Investors should keep an eye on Dart Mining's progress with the new exploration permit and the forthcoming drilling program. The company's expansion into Queensland's promising mineral regions could offer substantial growth opportunities. Stay tuned for updates on the resource estimates and exploration results.