DTM - Dart Mining

[Dona Ferentes]

Dart Mining (ASX: DTM) has discovered new mineralisation in historic high-grade goldfields near the settlement of Eskdale in north-east Victoria. One field historically produced gold at an average 77 grams per tonne.

This latest news feeds into two bullish themes now underway in the Australian gold story: first, the rush to revive historic Victorian goldfields and, two, the surge in brownfield discoveries of gold left behind by early miners.

Dart has been working at the Sandy Creek and Tallandoon goldfields located 60km south of Albury-Wodonga.

The company said these fields are known for historical production of “exceptionally high-grade” gold from narrow veins.

Gold in this region was first discovered at Omeo in April 1854. Alluvial deposits were worked around Omeo, in the Mitta Mitta valley, and along the Cobungra River, Snowy and Little Snowy Creeks.

Gold-bearing reefs were also worked in the Dart River, around Tallandoon, Mitta Mitta and Corryong.

Drilling to start in September
At Sandy Creek, the company found multiple disseminated gold-sulphide mineralisation, while at Tallandoon there are high-grade gold occurring with antimony-lead-zinc-gold-silver silica sulphide.

Chip sampling has identified several zones of high-grade quartz-free gold as well as disseminated sulphide.

Dart’s assays include 0.2m at 122g/t gold, including grab samples assaying at 6.48% antimony, 23.8g/t silver, 0.68% lead and 0.82% zinc.

At the site of the old Shamrock mine — one of the larger operations on the field — one 20m interval assayed at 4g/t gold, while at the Morning Star mine site a grab sample returned 140g/t gold and 35.1g/t silver.

Dart has approved a workplan for about 1,000m of percussion drilling at Sandy Creek with work on five targets beginning in September.

The Sandy Creek and Tallandoon goldfields cover an area 26km by 5km hosting gold and minor tin mineralisation.

Alluvial gold was discovered along Sandy Creek in 1854, then in 1879 hard rock mining began with 83 recorded historic reef workings. Tallandoon was discovered in 1896 with 94 recorded gold workings, plus three antimony mines and 19 tin workings.

“Both fields were noted for exceptionally high gold grades within quartz veins and associated felsic dykes,” the company stated.

Sandy Creek is recorded to have produced 160,000oz of gold between 1877 and 1915 with one reported head grade at the A1 Lloyds mine of 3,562g/t, although contemporary local newspaper reports indicate the average grade across the field was 77g/t.

Tallandoon is estimated to have produced 100,000oz of gold between 1886 and 1915, although it was sporadically worked until 1945 (largely for antimony.

 

[Dona Ferentes]

and Dart made it to Tim Boreham's 20121 tips :: Criterion's list of stocks to watch in 2021

Dart Mining (ASX: DTM) ::: $17 million

This one is an early stage entry into the go go Victorian gold sector, without the (arguably) frothy valuations of the later stage plays. After a recent $5 million fund raising, Dart is drilling across several tenements. Its main focus to date, Buckland is suspected to be the source of alluvial gold taken from Buckland and Ovens rivers.

Further north east, Dart is probing the idea that gold extends undercover on the extension of the Lachlan Fold, which hosts the Newcrest Mining’s Cadia gold-copper mine near Orange.

 

[frugal.rock]

Clearly there's money in mining darts.
One for @Garpal Gumnut

 

[Garpal Gumnut]

Clearly there's money in mining darts.
One for @Garpal Gumnut

View attachment 121063

Thanks @frugal.rock . I was watching it last year but gave up.

Have the sophisticated, a director or a digger been given free or cheap shares recently?

gg

 

[barney]

No disrespect to the Company, but it has been a dismal under performer for as long as I can remember. I used to own a few a million years ago with nothing but losses off the back of my holdings. (my fault, not theirs)

Maybe the current Management can walk the walk, but the old Management could only talk the talk (in my opinion of course )

20-1 Share consolidation back in November 2019. SP went down steadily for a while after, but is going ok lately.

Maybe they can pull a rabbit out of the hat. There have been some decent looking "strikes". Good luck to those holding but not for me.

 

[frugal.rock]

Have the sophisticated, a director or a digger been given free or cheap shares recently?

Probably... I'm cynical too.

For others benefit, my post was not meant to mean I am interested in the company.

The company name Dart gave me a laugh is all.

See reference thread below.

Stock Picking Using A Dart

As I hope I have shown these two long days in to this trading month the use of a dart is as good as any way of entering a stock. My good friend from the Bush years, Don Rumsfeld wisely said apropos of our knowledge. One need look no further than the ASF July 2020 Competition to see the...

www.aussiestockforums.com

 

[barney]

The company name Dart gave me a laugh is all.

I realised that Rock. I only commented because I used to own them ... Probably go to a $Dollar now I've ragged them out

 

[Dona Ferentes]

Dart provided an update on field activities across the Dorchap Lithium Project in Northeast Victoria. Field reconnaissance of pegmatite targets highlighted by the LiDAR survey has been completed, with initial results received.

Highlights include:
Sample 70847 – 2m @ 2.35% Li2O – Boones North Dyke, and
Sample 70840 – 5m @ 2.00% Li2O – Boones North Dyke.

 

[Dona Ferentes]

would've been good tip for April comp. ... up 100 per cent
.
1. No
2. Not applicable
3. If the answer to question 1 is “no”, is there any explanation that the Entity may have for the recent trading in its securities?
DTM notes that an article by resources journalist Barry FitzGerald, was published on 29 March 2024, in the online stocks publication, “Stockhead” (see:

Barry FitzGerald: Gold and lithium at under 2c a share? This honest toiler has 'extreme' leverage to success - Stockhead

It has a JV with Chilean giant SQM that covers either its gold or lithium ambitions, shares the same rock types as Fosterville, and is 30 minutes from the pub.

stockhead.com.au

The article refers to key projects of DTM which were described in DTM’s release “Dart Mining Gold Prospectivity Summary”, announced to ASX on 20 March 2024. Mr FitzGerald’s article was headed “Gold and lithium at under 2c a share? This honest toiler has ‘extreme’ leverage to success”, which may explain some of the recent trading in DTM shares.
4. In compliance
.
.
One that did get his interest up was DTM, a hardy Victorian gold and lithium explorer with big ground positions in centre of the state (gold), and in the northeast (gold and lithium) where Garimpeiro has been known to drop a fishing line now and then.

First up it has got to be mentioned that Jim Mellon, the billionaire stock-trader with a knack of picking trends early, holds 19% of the stock. Some refer to him as the UK’s version of Warren Buffett which he doesn’t enjoy, partly because he lives an upmarket lifestyle and Buffett doesn’t.

Mellon has long been a gold and lithium fan but like all Dart shareholders he has had to watch the stock sink during the junior market, shredding to all of 1.7c a share for a market cap of $3.87 million, would you believe.

Dart has been mentioned here previously on the strength of the lithium hunt in the northeast in a joint venture it manages with Chilean lithium giant SQM, no less, paying the bills. It is early stage stuff but certainly enough to more than cover Dart’s modest market cap.

Dart and SQM continue to advance the project at the technical level but it is parked up for the moment pending the issue of approvals to put in a track and some drill pads to test targets worked up in a busy 2023 with the drill bit.

Lithium sentiment still sucks so there is no angst about the likelihood that it will take three or four months for the approvals to come through.

When the drilling does get going at a site about a 30 minute drive on rough tracks from the Eskdale pub, it will be testing a fractionation zone which is what lithium explorers focus on to have the highest probability of finding high-grade and good tonnage mineralisation.

In the meantime, Dart is going hammer and tongs at its Rushworth gold project in central Victoria, about 40km northeast of the fabled Fosterville gold mine owned by Canada’s Agnico Eagle.

It is a historic high-grade gold field that has been overlooked in the modern era even though it shares the same rock types as Fosterville. Dart is now well into a 10-hole drill program at the wonderfully named Growlers Hill prospect.

It was a historic producer (1890s) from a high-grade northerly striking quartz vein to a depth of more than 100m and an adjacent east-west reef to a similar depth. It is but one of thousands of potential targets.

When Dart conducted a LIDAR survey which strips away the region’s dense canopy it was staggered to see that instead of a line of old working extending 600m or so from a known old gold mine, the line of strike could be traced for another 14km – 4600 historic workings in all.

Dart’s Victorian gold interests also extend to a project in the Buckland Valley, Sandy Creek close to Wodonga, and its namesake project near Corryong, with the latter having had no modern day exploration at all.

As suggested with its lithium interests, it has got to be said that Dart’s gold interests more than cover its $3.87 million market cap. The other way of looking at it is to suggest Dart’s leverage to any exploration success is extreme.

To that Garimpeiro adds his assessment that Dart has to be one of the most honest toilers in the ASX junior explorers’ space.

Its cash burn rate of $1.5 million is the lowest you’ll find yet it is one of the more active thanks to its ownership of its own drilling rig. It can get the task of drilling targets down to $70 a metre all up or less than half the going rate of a contractor.

It means that year in year out Dart can plan to drill 6000-7000m on its 100% owned gold ground.

Dart chairman James Chirnside explained to Garimpeiro that the aim is to be very self-reliant, and to be drilling constantly.
“The idea is that an exploration company is a drilling company. And if you are not drilling, as Paul Keating would say, you’re camping out.’’