Dart Mining NL (ASX:DTM) Updates Triumph Mineral Resource
Mineral Resource Expansion
Dart Mining NL (ASX:DTM) has announced a JORC Mineral Resource update for its Triumph project in Queensland. The updated estimate stands at 2.16Mt with a grade of 2.17g/t Au, totaling 150koz gold at a 1g/t Au cut-off. This marks a 7% uplift in grade and a 27% increase in contained gold ounces. Additionally, at a 0.5g/t Au cut-off, the resource expands to 3.35Mt at 1.7g/t Au, resulting in 178koz gold, a 51% increase.
Cost Efficiency Improvements
The resource update benefits from previous exploration drilling conducted by Sunshine Metals Limited (ASX:SHN), effectively reducing Dart’s acquisition cost per ounce from $17.0 to $13.3. High grades are concentrated near the surface, with 43% of gold ounces within the first 50m at 2.18g/t Au and 77% within the first 100m at 2.10g/t Au.
Ongoing and Future Drilling
Dart is actively drilling to expand and upgrade the Mineral Resource at the New Constitution prospect. With resources remaining open along strike and at depth, Dart anticipates steady growth of the resource throughout 2025. The company is executing a preliminary 7,000m diamond drilling programme aimed at further enhancing the resource and upgrading the JORC classification.
Executive Comments
Chairman James Chirnside stated, “Dart is pleased to update shareholders with an updated MRE for the Triumph project. Taking into account the addition drilling completed prior to acquisition and applying those results through the resource update, Dart has effectively reduced our acquisition cost on a dollar per ounce basis. Dart will continue on with its preliminary 7,000m diamond drilling programme through 2025 to continue to grow the resource and upgrade the JORC classification. Diamond drilling is progressing well with the company looking forward to updating shareholders on results in Q1 2025.”
Future Outlook
Dart Mining NL plans to continue regional exploration and identify additional prospective target zones within the Triumph project. The company is also reviewing and identifying advanced projects throughout Central Queensland for potential acquisition or joint ventures, aiming to build a strategic presence in the region.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.