Dart Mining (ASX:DTM) has increased the contained gold ounces in the Triumph Project resource in Queensland by 27%.
The total resource now contains 2.16 million tonnes @ 2.17 grams per tonne gold for 150,000 ounces of contained gold.
At the current Australian dollar gold price of about $4,666.50, that is worth about $700 million.
In addition to the 27% increase in ounces, Dart Mining reports a 7% increase in grade.
The company says the update takes advantage of previously reported exploration drilling carried out by Sunshine Metals (ASX:SHN) after its initial reporting of the maiden resource in 2022.
In 2022, the resource totalled 1.8 million tonnes @ 2g/t gold for 118,000 ounces of contained gold.
Dart Mining Chairman James Chirnside says based on drilling completed prior to acquiring the project and applying those results through the resource update, the company has reduced the acquisition cost on a dollar-per-ounce basis.
“Dart will continue on with its preliminary 7,000m diamond drilling program through 2025 to continue to grow the resource and upgrade the JORC classification,” Chirnside says.
Results are expected sometime this quarter.
Dart Mining is also undertaking regional exploration,alongside testing bulk tonnage targets.
The company plans to review and identify additional prospective target zones for exploration at Triumph in addition to existing resource areas.
Concurrently, Dart Mining will also review and identify further advanced projects throughout central Queensland for potential acquisition or joint venture opportunities.
Dart Mining is a junior mineral explorer focused on precious, base, and strategic metals in Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Sunshine Metals
