Dart Mining Plans to Explore Triumph Gold Project
Dart Mining is set to kick off exploration activities at its recently acquired Triumph gold project in Queensland. The company has identified several promising targets and potential extensions to its existing resource.
In August, Dart Mining purchased the Triumph project from ASX-listed Sunshine Metals for $2 million. Since then, the management team has been analyzing the geology, mineral system models, and historical drilling data from the site. The detailed dataset compiled by the previous owners provides valuable preliminary information, indicating significant potential for resource expansion.
Promising Historical Drilling Results
The Triumph project already has notable historical drilling results. Key hits include:
- 10 meters at 26.86 grams per tonne (g/t) of gold from a depth of 51 meters.
- 16 meters at 8.44 g/t from 38 meters.
- 16 meters at 5.48 g/t starting from 44 meters.
Among the areas earmarked for further investigation is the extension of the eastern section of the Bald Hill resource. This section hosts 311,000 tonnes grading 1.08 g/t, which amounts to 18,000 ounces of gold. To date, only 13 holes have been drilled, reaching an average depth of 31 meters. The deposit appears to be open along strike, and deeper exploration targets remain largely untouched.
Potential for Resource Expansion
Another area requiring further exploration is the Constitution inflection zone in the southern corridor, which contains a combined 690,000 tonnes with 56,000 contained ounces of gold. Dart Mining’s management believes there is an opportunity to expand the resource by targeting additional footwall vein systems. This will help clarify the structural controls and vein orientations that connect various domains.
Historic drilling at the Advance mine, located just north of Bald Hill, revealed high-grade results, including:
- 3 meters at 24.9 g/t from 17 meters.
- 1 meter at 45.5 g/t from 28 meters.
Additionally, the deeper Brigham-Young target in the southern corridor has promising results as well, including:
- 6 meters at 3.9 g/t from 188 meters.
- 1 meter at 20.4 g/t from 265 meters.
Chairman’s Remarks on Project Excitement
James Chirnside, chairman of Dart Mining, expressed excitement about the ongoing research and planning for the Triumph Gold Project. He emphasized the importance of targeting conceptual exploration drilling across lease areas, along with initial drilling for resource expansion and upgrades.
Chirnside also noted that one of the project’s advantages is its readiness for low-cost drilling operations. Dart Mining can utilize its own drilling equipment and crews, which enhances the ongoing development of the project.
Expansion of Ground Holding
Since acquiring the Triumph project, Dart Mining has expanded its ground holding in the region by securing additional leases to the east. This move effectively triples its land area.
The management team believes that Triumph has strong potential as an intrusion-related gold system (IRGS), similar to the privately owned Ravenswood deposit in Queensland, which contains over 5 million ounces of gold.
Dr. Gregg Morrison, representing Metal Bank (the previous owner of the project), highlighted the region’s vast prospectivity. Queensland is home to 130 known IRGS deposits, with 17 containing over 1 million ounces of gold.
Immediate Priorities
Dart Mining’s immediate priorities include finalizing the acquisition of new tenements, updating the resource estimate, and launching the drilling program next month.
At an effective cost of $16.94 per ounce, Dart Mining has secured a low-cost entry into advanced gold exploration at Triumph. With gold prices currently about 30% higher than at the beginning of the year—approximately $3950 an ounce and nearing all-time highs—the company is eager to boost its inventory of this precious metal as soon as possible.
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