DART MINING NL - ASX: DTM

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Description

Dart is focused on exploration in the north-east of Victoria and south-east of New South Wales, targeting historic goldfields and structural concepts with little or no modern exploration activity.

Dart (EL4726)

The Dart Goldfield is located some 45km south of Corryong in NE Victoria. It comprises a number of shallow mines from the 1890s where the gold is associated with sulphide rich lode structures. Dart Mining has commenced evaluation of this goldfield by drilling at Mountain View and Mount Elliot.Other mines in the goldfield will be mapped and sampled in order to prioritise further drilling opportunities. The Dart EL also contains a number of porphyry gold, silver and base metals targets which are being explored.

Buckland (EL4724) - FAIRLEY’S PROSPECT

Located about 200 kilometres from Melbourne in north-eastern Victoria, the Buckland Valley goldfield is contained entirely within Darts EL 4724. Fairley’s prospect is a “rediscovery” which Dart considers of exploration significance. The prospect is situated at 800 metres elevation on a ridge above Fairley’s Creek, a tributary of the Buckland River and its extensive historic alluvial gold workings. Alluvial gold production from the Buckland goldfield was continuous from 1853 to abut 1919 with a second period of production in the late 1930s that included large hydraulic and bucket dredge operations. However, the source of the alluvial production remains unexplained as the reported hard rock orogenic-style deposits were small and insufficient to explain the source of such consistent alluvial gold production.

Dart geologists’ historical review resulted in rediscovery of Fairley’s Gold Prospect. Although lost in modern accounts of the goldfield, newspaper reports in the 1890s considered the Fairley’s Creek mine as one of the most significant hard rock deposits found in the field. The mine exhibited unusual mineralogy compared to the smaller surrounding orogenic lodes, in which the gold was traditionally free milling. Despite contemporary reports of very high grades, the low yields realised suggests to Dart that substantial gold was contained in sulphides and not able to be recovered onsite with the technology of the time. In addition, company geologists have recently rediscovered the historic Kaufmann and Centennial mines.

A soil geochemistry grid has been established at the Fairley’s prospect which is currently being extended to the south and east to follow up identified open soil gold anomalies. Initial rock chips and soil sampling programs over several prospects indicate that there are significant mineralised systems which warrant further exploration and drilling at the prospect. The results show consistently that mineralisation identified in historical reports as “large” or of “stockwork nature” exhibit broad surface gold anomalism on a 310 degree mineralisation trend. These new prospects will be taken through to the design of a drill program and a Work Plan submitted to the DPI for approval. Dart has already constructed new access roads into the Fairley’s prospect to allow exploration drilling to be undertaken.

Tooma (EL6172)

The Tooma region is in southern New South Wales, close to the Victorian border and is linked by sealed and secondary roads to the Victorian town of Corryong. Historically, the prospectivity of this exploration licence (EL) is related to historic alluvial gold production which is reported as 120,000 ounces of gold. There are four main alluvial targets within the EL: Tooma, Mannus, Tarcutta Creek and Burra Creek. Deep Lead targets beneath shallow overburden occur at Surface Hill.

Past drilling of the Tooma deposit showed that alluvial material containing approximately 0.2 g/m3 Au occurs with minor sapphire under shallow overburden. Mannus Creek and the Tarcutta deposit have similar alluvial’s, although the latter is smaller and possibly higher grade. Burra Creek is smaller again but could also be of a higher grade. This Tenement lies close to an important section of the Gilmore Suture Zone where a major inflexion begins before it crosses into Victoria just east of the Tenement, where its continuation is known as the Indi Fault.

Dart intends to undertake an extensive regional study of the tectonic and structural setting, using the Polygon Vortex Model to identify and evaluate prime structural locations for gold-base metals mineralisation. Regional assessment by hydro–geochemistry is planned. This will be supported by field checking to investigate the possibility of the Tooma EL to host reduced intrusive related gold (RIRG) porphyry systems to account for the alluvial deposits the source of which has never been explained. Dart also intends to evaluate tungsten targets at Quartzville and investigate the historic Pioneer gold vein.

First pass drilling of 9 RAB holes for a total of 47 metres was completed across the alluvial flats in 2007. The aim was to confirm the grades and depths to wash detail by Great Northern Mining Pty Ltd in the mid 1990’s, and to define the potential for high grade channels by carrying out a close spaced drill section across the flats. Assay results have been received and are being evaluated.

Porphyry Targets

Porphyry targets are deposits of igneous intrusive rock, formed when volcanic magma cooled and solidified within the earth hundreds of years ago, which can contain a common zoned distribution of precious and base metals mineralisation. The key porphyry targets for Dart are:

* Unicorn – A signicant molybdenum anomaly has been identified. A follow up drilling program has commenced,
* Morgan - Nearby to Mt Unicorn in the Zulu - Empress corridor intersect. Interpretation of geochemistry sampling is underway,
* North Mammoth - Located in the Zulu corridor to the south. A drill program is underway as part of the Rediscover Victoria Drilling (RVD) grant.

Mine For

gold, silver

Location of operation(s)

Victoria, New South Wales

Address

Level 3 , 15-17 Queen Street
MELBOURNE, VIC, AUSTRALIA

Phone

(03) 9621 1322

Email

Website

http://www.dartmining.com.au

Last Updated

26/04/2010