Dart adds advanced antimony-gold project to | Australian Markets

Dart Mining has added one other arrow to its Queensland quiver, securing a future majority stake within the high-grade Coonambula antimony-gold project, 130 kilometres from its flagship Triumph gold project in Central Queensland.

The binding farm-in settlement with now-gold developer Nice Divide Mining positions Dart to use the superior project and surging antimony costs, which have elevated due to China’s current export ban.

The Coonambula project sprawls throughout 282 sq. kilometres of granted tenements, with an further 227 sq. kilometres beneath software. It’s within the mineral-rich New England Orogen in New South Wales – a geological hotspot home to antimony market darlings reminiscent of Larvotto Assets’ Hillgrove mine.

Dart’s latest transfer will goal the historic Banshee mine, the place previous drilling and rock chips unearthed jaw-dropping grades together with a 3-metre hit operating at 9.18 per cent antimony from 158m, a thicker 6m part grading 5.12 per cent antimony and 1.55 grams per tonne (g/t) gold from 77m, and rock chips samples peaking at a huge 44.9 per cent antimony and 9.93g/t gold.

Administration sees a golden alternative on the prospect, which has seen restricted trendy exploration since 2014 and restricted drilling required to outline a JORC-compliant useful resource at pace.

Underneath the deal, Dart can pay $250,000 upfront for a 15 per cent curiosity within the Coonambula project after which run a 4000m drilling marketing campaign over two years to earn up to a 51 per cent stake.

The company’s diamond rigs are already buzzing away on a 7000m diamond drilling program at Dart’s Triumph project and can then roll straight into Coonambula to begin with 2000m of infill drilling at Banshee later this yr.

Preliminary drilling will goal to verify Coonambula’s historic high-grade intercepts and fast-track a maiden useful resource. Drill holes might be spaced 20-30m aside throughout a 300m antimony-rich core zone.

12 months two of the farm-in will see a additional 2000m of drilling to chase extensions alongside a 5km east-west strike and take a look at gold-heavy targets reminiscent of Perseverance, the place historic mining coughed up 20,000 tonnes at 20g/t gold.

Coonambula positions Dart to the forefront of antimony exploration in a single of Australia’s best antimony addresses, the New England Orogen that additionally hosts Larvotto’s Hillgrove gold- antimony mine and Trigg’s Wild Cattle Creek antimony deposit. We might be drilling with the intent to declare a JORC-compliant antimony-gold useful resource on the historic Banshee mine on the earliest alternative.

The project’s attract isn’t simply in its grades – it’s additionally in its geology. Hosted in intrusive granites, Coonambula mirrors the intrusion-related gold systems that outline multi-million-ounce deposits reminiscent of Cracow, 70km northwest, and Ravenswood additional afield.

The Banshee mine is one of Central Queensland’s largest historic antimony mines and stands out for producing direct transport ore going back to 1876. Floor trenching by Brisbane-based miner Nice Divide Mining final yr delivered 4m at 3.09g/t gold and 1.14 per cent antimony, whereas the close by Girl Mary mine, 1km east, returned rock chips up to 49.6 per cent antimony.

The 5km strike zone linking these prospects stays largely untested.

Strategically, Coonambula slots neatly into Dart’s Queensland playbook.

It’s 390km north-northwest of Brisbane and a stone’s throw from Triumph, the place the company just lately boosted its mineral useful resource by 27 per cent to 150,000 ounces of gold from a strong 2.16 million tonnes of mineralisation grading 2.17g/t gold.

The company is now leveraging its in-house rigs, crews and infrastructure to keep prices lean.

Nice Divide’s CEO Justin Haines sees it as a win-win.

Haines says the farm-in settlement with Dart secures a associate to advance Coonambula’s prospects that can permit his company to “further focus on project development, operation, and near-term cash-flow”, together with its freshly introduced refurbishment of the Challenger gold mine in South Australia.

With gold costs hitting new highs and antimony’s document costs additionally holding robust, Dart is doubling down on the New England Orogen’s potential.

Alongside Triumph’s ongoing drilling and a current 192-square-kilometre tenement software on the Raglan goldfields within the area, Coonambula provides a dual-commodity twist to the company’s Queensland growth story. The following 12 months promise a flurry of low-cost drilling exercise – and many of news for punters wishing to stay with the surging yellow and silvery-white metals.

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