Dart Mining NL (ASX: DTM) ('Dart Mining' or 'the Company') is pleased to announce the completion of fieldwork and data acquisition for the geophysical survey across the prospective porphyry target at its Granite Flat Cu-Au porphyry project.
Highlights of the Geophysical Program include: Six 2.4 km-long Induced Polarisation (IP) & Magneto-Telluric (MT) geophysical survey transects completed across the Granite Flat Project
IP & MT surveys will test the porphyry mineralisation potential for the project, indicated by numerous long drill intersections of low-grade Copper-Gold mineralisation in altered granitic rock
Geological setting at Granite Flat is prospective for porphyry mineralisation, with strong potential for Cu-Au porphyry mineralisation presently untested. A WNW-ESE trending structural zone bears stark similarities to that of the Cadia Valley Cu-Au system
The project also hosts potential for other styles of mineralisation, such as breccia hosted Cu-Au, and higher-level gold veining
Preliminary interpretation of geophysical survey results anticipated shortly
Chairman, James Chirnside commented: 'Data acquisition at Granite Flat has provided us with substantial encouragement thus far, and we are keenly anticipating the final results and interpretation of this recent geophysical survey. It will substantially improve specific targeting for drill testing copper and gold mineralisation in the subsurface at Granite Flat.'
Fender Geophysics was contracted to acquire Induced Polarisation (IP) and Magneto-Telluric (MT) geophysical survey data across the Granite Flat project. Recent drilling competed by Dart Mining at Granite Flat in Northeast Victoria has highlighted strong potential for bulk tonnage, porphyry-style Cu-Au mineralisation (Dart ASX 8th March 2021).
Dart Mining aims to test the prospective porphyry mineralisation system through the application of this geophysical program, consisting of six 2.4 km IP and MT survey lines situated across Cu-Au soil anomalies, drill holes demonstrating long Cu-Au intersections and across remanent magnetism anomalies identified in open-file aeromagnetic data.
This survey is the first application of the Advanced Geophysical Technologies gDAS-32 system in Australia, allowing IP and MT data to be collected on a single array. Data collection initially began in late May, although the project was extended due to regional and inter-state restrictions arising from the Covid-19 pandemic and uncharacteristically high rain and snowfall in the region.
Consequently, the Fender Geophysics field crew have worked exceedingly hard in difficult conditions, overcoming various hurdles to complete this survey, whilst demonstrating an inordinate amount of determination to complete the job without compromise; for these efforts, Dart Mining is incredibly grateful. Mackey Geophysics have been consulted for interpretation of IP and MT data, and to revise and interpret regional gravity and airborne magnetics datasets. A preliminary interpretation of these data is anticipated in the coming weeks.
The Granite Flat prospect is located nine kilometres southeast of Mitta Mitta and is accessed directly from the Omeo Highway. Historically, the prospect was mined at several small-scale production centres between 1856 and 1918, following its initial discovery when the source of alluvial gold in the Mitta River was followed upstream.
Previous explorers have targeted the area with geophysical surveys, rock chip, soil and stream sediment sampling, and drilling and trenching. Historic soil grids have established 8 strong Cu-Au anomalies that have been variably drill tested across the prospect. In total, 18 costeans, 52 reverse circulation (RC) and 19 diamond drillholes have been completed by previous explorers between 1986-1997 (Meltech Ltd., CRA Exploration [now Rio Tinto], and Perseverance Mining Ltd.). The broad intersections of low grade Cu-Au mineralisation returned in historic drilling and Dart's recent RAB drilling program are hosted within potassic, chlorite and epidotealtered granodiorite, further confirming the potential for porphyry style mineralisation (Dart ASX 8th March 2021).
Mineralised zones at Granite Flat are hosted within the Banimboola Quartz Monzodiorite (BQM) igneous intrusion. The BQM has been broadly identified as hosting a porphyry style of Cu-Au mineralisation associated with I-type granitoid and sulphide veins, with alteration varying from silicic to argillic to propylitic, with moderate to high background copper (Hesp, 1974; Bolger et al., 1983; Ramsay & Vandenberg, 1986; Wilde, 1988). Monzonite intrusive bodies are often the host of porphyry systems in the Lachlan Fold Belt. Additionally, the Granite Flat prospect lies adjacent to the Gilmore Suture, a significant crustal-scale structure that is associated with the emplacement of several porphyry Cu-Au systems across the border in New South Wales. Whilst still in the early stages of exploration, Dart Mining geologists believe that many of the geological characteristics and mineralised features of the Granite Flat prospect correspond with key elements of the porphyry exploration mode
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About Dart Mining
Dart Mining (ASX: DTM) floated on the ASX in May of 2007 with the aim of evaluating and developing several historic goldfields, as well as substantiating a new porphyry province in North East Victoria. The area is prospective for precious, base, and strategic metals. These include Lithium, Gold, Silver, Copper, Molybdenum, Zinc, Tungsten, Tin, Tantalum, and a host of other important minerals. Dart Mining has built a strategically placed gold exploration footprint in the Central and North East regions of Victoria, where historic surface and alluvial gold mining indicates the existence of potentially significant gold endowment.
Certain statements contained in this document constitute forward-looking statements. Forward looking statements include, but are not limited to, Dart Mining's current expectations, estimates and projections about the industry in which Dart operates, and beliefs and assumptions regarding Dart's future performance. Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. When used in this document, words such as; 'anticipate', 'could', 'intends', 'estimate', 'potential', 'plan', 'seeks', 'may', 'should', and similar expressions are forward-looking statements. Although Dart believes that its expectations presented in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements. Investors are cautioned that forward-looking information is no guarantee of future performance and accordingly, investors are cautioned not to place undue reliance on these forward-looking statements. -
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