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DART MINING NL Capital/Financing Update 2021

Sep 13, 2021

64792_rns_2021-09-13_6d7b01a4-4747-451c-bc76-e71f7784331c.pdf

Capital/Financing Update

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ASX Release

14 September 2021

Encouraging Copper-Gold Drill Results from Granite Flat Cu-Au Porphyry Project

“real possibility of bulk tonnage – and most likely indicate peripheral mineralisation from a Porphyry

Dart Mining NL (ASX:DTM) (“Dart Mining” or “the Company”) is pleased to report multiple copper and gold mineralised intervals in the first six holes of its reverse circulation (RC) drilling program at the Granite Flat Porphyry Cu-Au project in Northeast Victoria.

Highlights Include:

  • Drilling of the deepest hole drilled in the Granite Flat project (EMRC03 at 180m)

  • Visible chalcopyrite and molybdenite in drill chips

  • Several holes collared and terminated in mineralisation

  • Additional 15 RC holes are planned over the coming months

  • Multiple Copper & Gold intercepts including:

  • 1m @ 6.0 g/t Au & 6m @ 0.18% Cu from 16m downhole, 6m @ 1.0 g/t Au from 42m, 1m @ 5.0 g/t Au from 126m (EMRC01)

  • 41m @ 0.17% Cu from surface, 17m @ 0.42 g/t Au from 14m & 1m @ 4.9 g/t Au from 57m (EMRC02)

  • 138m @ 0.09% Cu from surface (EMRC02 – entire hole)

  • 111m @ 0.07% Cu from surface (EMRC03)

  • 40m @ 0.11%m Cu including 19m @ 0.18% Cu from 35m downhole (EMRC04)

  • 21m @ 0.46 g/t Au from 46m downhole (EMRC04)

  • 12m @ 0.37 g/t Au & 0.23% Cu from 26m downhole (EMRC06)

  • Tungsten Mineralisation intercepted in EMRC05

  • 7m @ 0.12% W from 83m in EMRC05, including 1m @ 0.61% W

  • Narrow Molybdenite mineralisation intercepted in holes EMRC01, EMRC03 and EMRC04

  • 1m @ 1.2% Cu, 1.5 g/t Au & 655 ppm Mo in EMRC01 from 103m

  • 1m @ 463 ppm Mo from 116m, 1m @ 835 ppm Mo from 122m & 6m @ 153 ppm Mo from 132m in EMRC03

Chairman, James Chirnside commented :

We are encouraged by the excellent results of Dart’s recent RC drilling program at Granite Flat. Although we still have much to do, I think these results convey the real possibility of bulk tonnage – and most likely indicate peripheral mineralisation from a Porphyry – mineralisation source. It also serves as a timely confidence booster in our modelling and approach to what is apparently a very large and highly complex intrusion related mineralised system”

Webpage: www.dartmining.com.au LinkedIn: Dart Mining NL Twitter: @DartMining

Contact: James Chirnside Dart Mining NL Email:[email protected] ABN: 84 119 904 880 Mobile: +61 447 447 613 Level 6, 412 Collins Street Melbourne VIC 3000

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Drill Assay Results

A low impact Reverse Circulation (RC) percussion drilling program targeting porphyry and stockwork / sheeted vein-style mineralisation has been initiated at Granite Flat. Six holes have been completed for a total of 951m of drilling, representing the deepest drilling undertaken at Granite Flat, with hole EMRC03 the deepest hole at 180m. An additional 15 holes are planned for the remaining RC program over the coming months. The extensive network of existing tracks and drill pads constructed by CRA Exploration in the early 1990’s means this drilling program can be undertaken under a low impact exploration workplan without compromising targeting or results.

Drilling assay results have produced several significant intersections encountered (Table 1), and preliminary interpretation of geological logging and drilling results have identified zone of propylitic and potassic alteration, along with pyrite and chalcopyrite (± molybdenite) sheeted vein systems at two sites (Figures 1, 2 & 5) consistent with Dart’s interpretation of a porphyry copper-gold system at Granite Flat. Significant intersections are noted in Table 1, with all intersections compiled in Appendix 2.

Discussion of Results

Copper, and particularly gold mineralisation in EMRC01 is repeated at regular intervals down hole, consistent with previous drilling intercepts, interpreted as a sheeted vein system (Figure 1). Within the vein system, gold is principally restricted to primary structures, whereas copper mineralization is more widespread, with stringer veins and diffuse chalcopyrite extending into the alteration zone surrounding the main veins (Figures 1 & 2). Notable intercepts from EMRC01 include 1m @ 6.0 g/t Au and 6m @ 0.18% Cu from 16m, 6m @ 1.0 g/t Au from 42m, 1m @ 5.0 g/t Au from 126m, and terminated in mineralisation with 3m @ 0.34 g/t Au and 0.11% Cu from 162–165m (Table 1). EMRC01 was planned to a depth of 180m, however significant water was encountered at 165m and the hole was terminated. The hole has been capped, providing the option of completing a diamond tail in the future.

EMRC02, EMRC03 and EMRC04 were drilled across an outcropping granitic porphyry dyke, where previous RAB drilling by Dart Mining (Dart ASX 8[th] March 2021) encountered long intercepts of low grade Cu-Au mineralisation. The extent of this mineralised zone has been extended and tested at depth through these latest RC drill holes, with EMRC02 intersecting 41m @ 0.17% Cu from surface, 17m @ 0.42 g/t Au from 14m and 1m @ 4.9 g/t Au from 57m, with several subsidiary intercepts at depth (Table1, Appendix 2).

EMRC03 encountered a long, low-grade copper intersect of 111m @ 0.07% Cu from surface. Deeper down hole, EMRC03 intercepted high Mo mineralisation, which includes 1m @ 835 ppm Mo from 122m and 6m @ 153ppm Mo from 132m, including 1m @ 640 ppm Mo .

EMRC04 intercepted 40m @ 0.11% Cu from 35m , including 19m @ 0.18% Cu and 1.2 g/t Ag, and 21m @ 0.46 g/t Au from 46m downhole (Figure 3). An intercept of 1m @ 161 ppm Mo was returned at the base of hole EMRC04 from 173m. The entire lengths of holes EMRC02, EMRC03 and EMRC04 demonstrate anomalously high Cu values, with EMRC02 returning a whole-hole grade of 0.09% Cu over 138m, EMRC03 returning 180m @ 0.05% Cu and EMRC04 showing 174m @ 0.06% Cu (Figure 2).

EMRC05 was drilled to test the western extent of significant Cu anomalies identified in previous drilling by Dart Mining (Dart ASX 8[th] March 2021) and CRA exploration (Dart ASX 27[th] October 2020). EMRC05 encountered low grade Cu and Au mineralisation, which included 27m @ 0.07% Cu from surface and 3m @ 0.2 g/t Au from 22m, but unexpectedly intercepted tungsten mineralisation, returning 7m @ 0.12% W, including 1m @ 0.61% W from 83m (Figure 3).

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EMRC06 was oriented to target vein-style Cu-Au mineralisation, with the most notable intercept being 12m @ 0.37 g/t Au and 0.23% Cu from 26m, including 1m @ 1.3 g/t Au & 1.0% Cu and 1m @ 1.4 g/t Au & 0.63% Cu .

EMRC01 and EMRC06 are 2.3 km apart (indicative of the scale of the Granite Flat project), but both demonstrate a regularly spaced vein system. However, the vein set at EMRC06 is much wider-spaced than that observed at EMRC01 (Figures 1 & 4). Additionally, the vein system at EMRC01 interpreted to be predominantly E-W trending and characterised by Cu-Au ± Ag, Te & Mo with 5-10m wide alteration zones; whereas the vein system at EMRC06 is dominated by a NW-trending vein set and characterised by narrow Cu-Au mineralisation (Figure 4).

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Figure 1: Cross-section and preliminary geological interpretation across drill hole EMRC01 showing mineralised intercepts for gold (A) and copper (B). Historic drillholes RC93BO25, RC93BO28, GF26 and GF26 shown for reference. EMRC01 was sampled at 1m intervals, whereas 2m Au sampling intervals were used on historic holes. Holes GF25 and GF26 were not sampled for Cu, and RC93BO25 and RC93BO28 were only sampled every 10m for Cu. Data across 100m width projected onto section.

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Table 1: Significant intersections from recent Granite Flat RC drilling. Significant intervals calculated using a lower cut-off of 0.2 ppm Au and 0.05% Cu, with no more than 2m of internal dilution. All intervals represent downhole thicknesses. For a complete list of intersections, refer to Appendix 2.

Hole Hole
Depth
(m)

Fro
m
(m)
To
(m)
Intercept Comments
EMRC01 165 16 18 [email protected]/t Au inc. 1m@ 6.0g/t Au
16 22 [email protected]% Cu & 1.2g/t Ag
28 30 [email protected]/t Au
42 48 6m@ 1.0g/t Au inc. 2m@ 2.5g/t Au & 0.23% Cu
61 67 [email protected]/t Au inc. 1m@ 1.9g/t Au
77 85 [email protected]/t Au inc. 1m@ 4.2g/t Au
80 83 [email protected]% Cu
99 135 36m@ 0.41g/t Au & 0.11% Cu
103
104
1m @ 1.5 g/t Au, 6.5 g/t Ag, 1.2% Cu &
655ppm Mo
106
111
[email protected]/t Au
126
127
1m@ 5.0g/t Au, 2.7g/t Ag & 0.6% Cu
162
165
[email protected]/t Au & 0.11% Cu Ended in mineralisation
EMRC02 138 0 41 41m@ 0.17 % Cu Collared in mineralisation
14 31 17m@ 0.42g/t Au
57 58 1m@ 4.9g/t Ag
59 112 [email protected]% Cu 18m internal dilution
80 86 [email protected]/t Au
80 83 [email protected]/t Ag
103
110
[email protected]/t Au
EMRC03 180 0 111 111m @ 0.07% Cu Collared in mineralisation. 32m
internal dilution
6 12 [email protected]/t Au
19 20 [email protected]/t Au inc. 1m@ 1.62g/t Au
101
106
[email protected]/t Au
116
117
1m@463ppm Mo
122
125
3m @ 0.28 g/t Au & 0.12% Cu & 1m @
835ppm Mo
132
138
6m@ 153ppm Mo inc. 1m@ 640ppm Mo
EMRC04 174 35 75 40m@ 0.11% Cu inc. 19m@ 0.18% Cu & 1.2g/t Ag
46 67 21m@ 0.46g/t Au inc. 1m@ 2.37g/t Au
92 94 [email protected]/t Au
117
130
[email protected]% Cu
122
126
[email protected]/t Au
172
173
1m@161ppm Mo
EMRC05 156 0 27 [email protected]% Cu inc. 4m@ 0.2 % Cu
22 25 [email protected]/t Au
83 90 7m@ 0.12% W inc. 1m@ 0.61% W
139
150
[email protected]% Cu
EMRC06 138 11 13 [email protected]/t Au
26 38 12m @ 0.37 g/t Au & 0.23% Cu inc. 1m @ 1.3 g/t Au & 1.0% Cu,
1m@ 1.4g/t Au & 0.63% Cu
83 86 [email protected]/t Au
103
105
[email protected]/t Au

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Figure 2: Cross-section across drill holes EMRC02, EMRC03 & EMRC04 showing mineralised intercepts for gold (A) and copper (B). Historic drillholes RC93BO22, RC93BO23, and Dart Mining RAB holes EMPRAB25 & EMPRAB26 shown for reference (Dart ASX 8[th] March 2021 & Dart ASX 27[th] October 2020). Inset in panel A of potassic (biotite + K-feldspar) alteration from 124-126m downhole in EMRC03. Inset in panel B of strong molybdenite and chalcopyrite mineralisation from 122-123m downhole in EMRC03. Abbreviations: Bt – Biotite, Kf – potassium feldspar, Mo – Molybdenite, Cpy – Chalcopyrite. Data across 100m width projected onto section.

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Figure 3: Cross-section and preliminary geological interpretation across drill hole EMRC05 showing mineralised intercepts for gold (A) and copper (B). Historic drillholes DD92O5, RC93BO21, and Dart Mining RAB holes EMPRAB12, EMPRAB13, EMPRAB14, EMPRAB15, EMPRAB16, EMPRAB17 & EMPRAB18 shown for reference (Dart ASX 8[th] March 2021 & Dart ASX 27[th] October 2020). Data across 100m width projected onto section.

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Figure 4: Cross-section and preliminary geological interpretation across drill hole EMRC06 showing mineralised intercepts for gold (A) and copper (B). Historic drillholes RC93BO20, GF23, and Dart Mining RAB holes EMPRAB31, EMPRAB32, EMPRAB33 & EMPRAB42 shown for reference (Dart ASX 8[th] March 2021 & Dart ASX 27[th] October 2020). Note GF23 was never assayed for Cu. Data across 70m width projected onto section.

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Figure 5: Map of recent RC drill hole collars. Previous drilling included for reference, including Dart Mining’s 2020 RAB drilling program (Dart ASX 8[th] March 2021) and historic holes drilled by Meltech Ltd. (1988-1989), CRA Exploration Ltd. (1992-1993) and Perseverance Ltd (1996-1997) (Dart ASX 27[th] October 2020). Note that RC holes drilled by Perseverance were never assayed for Cu, only Au. RC and Daimond holes drilled by CRA Exploration were only assayed for Cu every 5m. Historic hole data sourced from the GSV online database.

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Future Exploration

The RC program will be continued for the remaining 15 holes, with a focus on exploring the central portion of the project which shows the strongest porphyry potential, and several holes in the southern aspect of the project, which remains untested in recent exploration, despite demonstrating excellent Cu-Au prospectivity. Results of the induced polarity – magneto-telluric geophysical survey are anticipated shortly, which will further guide placement and development of future drilling. RC holes EMRC01 to EMRC06 have been temporarily capped, providing the option for adding a diamond tail if required (particularly in holes EMRC01, EMRC02 & EMRC03). An expansion of the regional soil sampling program is expected to begin shortly, targeting geophysical anomalies identified in Dart ASX 27[th] May 2021.

––– END –––

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Figure 6: Location of the Granite Flat prospect, Northeast Victoria.

For more information contact:

James Chirnside Managing Director Dart Mining NL [email protected] +61 447 447 613

Peter Taylor Investor Relations NWR Communications [email protected] +61 412 036 231

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.

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Additional JORC Information

Further details relating to the information on the Empress Copper-Gold Project can be found in Dart Mining’s ASX announcements:

31[st] August 2021: “Granite Flat Geophysics Program Complete”

1[st] June 2021: “Commencement of Second Drilling Program at Granite Flat”

27[th] May 2021: “Initiation of Geophysical Surveys at Granite Flat”

11[th] May 2021: “Diamond Drilling Program for Copper-Gold Mineralisation Commences”

18[th] March 2021: “LiDAR Acquisition over Strategic Projects”

8[th] March 2021: “Granite Flat High-Grade Gold, Silver, Copper Drill Results”

7[th] December 2020: “Northeast Drilling Program Complete”

9[th] November 2020: “Commencement of Drilling Copper-Gold Mineralisation at Granite Flat”

27[th] October 2020: “Orogenic Gold and Porphyry Prospectivity, Mitta Mitta, NE Victoria”

Additional information on Dart Mining’s other recent and current drilling operations can be found in:

6[th] April 2021: “Strong Gold Mineralisation Intercepted at Rushworth”

16[th] February 2021: “Sandy Creek Significant Gold Mineralisation”

7[th] December 2020: “Northeast Drilling Program Complete”

16[th] November 2020: “Drilling Commencement, Historic Rushworth Goldfield”

5[th] November 2020: “Rushworth Historic High-Grade Goldfield”

30[th] October 2020: “Report for the quarter ended 30[th] September 2020”

19[th] October 2020: “Drill Results Reveal High-Grade Gold”

1[st] September 2020: “Drilling of Gold Mineralisation Commencing”

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Competent Person’s Statement

The information in this report has been prepared, compiled, and verified by Dr. Ben Hines PhD, MSc, a Competent Person who is a Member of the Australian Institute of Geoscientists. Dr. Hines is the Exploration Manager for Dart Mining. Dr. Hines has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr. Hines consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward-Looking Statement

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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APPENDIX 1

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COLLAR DETAILS

Hole ID Easting
(MGA Z55)

Northing
(MGA Z55)

Elevation
(m)
Achieved
Hole
Depth(m)
Planned
Hole
Depth(m)
Collar
Survey
Method
Azimuth
(mag)
Dip
EMRC01 539900 5950817 429 165 180 GPS 208 -55.0
EMRC02 540501 5950601 493 138 150 GPS 53 -60.0
EMRC03 540587 5950579 503 180 180 GPS 218 -55.0
EMRC04 540661 5950564 515 174 180 GPS 218 -55.0
EMRC05 540872 5950421 571 156 150 GPS 284 -55.0
EMRC06 541618 5949339 714 138 180 GPS 48 -55.0

APPENDIX 2

ALL MINERALISED INTERCEPTS – 0.2 g/t Au, 1.0 g/t Ag & 0.05% Cu (500pm) cutoff limits

Hole Hole
Depth
(m)
From
(m)
To
(m)
Intercept Comments
EMRC01 165 0 1 [email protected]/t Au
16 18 [email protected]/t Au inc. 1m@ 6.0g/t Au
16 22 [email protected]% Cu & 1.2g/t Ag
28 30 [email protected]/t Au
42 48 [email protected]/t Au inc. 2m@ 2.5g/t Au & 0.23% Cu
61 67 [email protected]/t Au inc. 1m@ 1.9g/t Au
77 85 [email protected]/t Au inc. 1m@ 4.2g/t Au
80 83 [email protected]% Cu
99 135 [email protected]/t Au & 0.11% Cu
103 104 1m @ 1.5 g/t Au, 6.5 g/t Ag, 1.2% Cu & 655
ppm Mo
106 111 [email protected]/t Au
126 127 [email protected]/t Au,2.7g/t Ag& 0.6% Cu
148 149 [email protected]/t Au
162 165 [email protected]/t Au & 0.11% Cu Ended in mineralisation
EMRC02 138 0 41 [email protected] % Cu Collared in mineralisation
5 6 [email protected]/t Au
14 31 [email protected]/t Au
57 58 [email protected]/t Ag
59 112 [email protected]% Cu 18m internal dilution
62 63 [email protected]/t Au
70 72 [email protected]/t Au
80 86 [email protected]/t Au
80 83 3m@4g/t Ag
82 83 1m@99ppm Mo
94 95 [email protected]/t Au
103 110 [email protected]/t Au
121 122 [email protected]/t Au
125 126 [email protected]/t Au
133 134 [email protected]/t Au
136 137 [email protected]/t Au

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APPENDIX 2

ALL MINERALISED INTERCEPTS CONTINUED

Hole Hole
Depth
(m)
From
(m)
To
(m)
Intercept Comments
EMRC03 180 0 111 111m @ 0.07% Cu Collared in mineralisation. 32m
internal dilution
6 12 6m @ 0.21 g/t Au
19 20 4m @ 0.5 g/t Au inc. 1m @ 1.62 g/t Au
35 36 1m @ 0.2 g/t Au
69 70 1m @ 0.2 g/t Au
89 91 2m @ 0.3 g/t Au
97 98 1m @ 0.41 g/t Au
101 106 5m @ 0.21 g/t Au
107 108 1m @ 87 ppm Mo
116 117 1m @ 463 ppm Mo
122 125 3m @ 0.28 g/t Au & 0.12% Cu & 1m @ 835
ppm Mo
132 138 6m @ 153 ppm Mo inc. 1m @ 640 ppm Mo
136 137 1m @ 0.2 g/t Au & 0.06% Cu
154 155 1m @ 0.12% Cu
EMRC04 174 11 24 13m @ 0.05% Cu
13 14 1m @ 0.2 g/t Au
35 75 40m @ 0.11% Cu inc. 19m @ 0.18% Cu & 1.2 g/t Ag
38 39 1m @ 0.34 g/t Au
46 67 21m @ 0.46 g/t Au inc. 1m @ 2.37 g/t Au
76 77 1m @ 0.25 g/t Au
82 83 1m @ 0.33 g/t Au & 0.15% Cu
92 94 2m @ 0.39 g/t Au
92 100 8m @ 0.07% Cu
107 112 5m @ 0.05% Cu
111 112 1m @ 0.28 g/t Au
117 130 13m @ 0.08% Cu
122 126 4m @ 0.28 g/t Au
148 152 4m @ 0.05% Cu
158 162 4m @ 0.06% Cu & 2m @ 78 ppm Mo
169 172 3m @ 0.07% Cu
172 173 1m @ 161 ppm Mo

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APPENDIX 2

ALL MINERALISED INTERCEPTS CONTINUED

Hole Hole
Depth
(m)
From
(m)
To
(m)
Intercept Comments
EMRC05 156 0 27 27m @ 0.07% Cu inc. 4m @ 0.2 % Cu
14 15 1m @ 0.2 g/t Au
22 25 3m @ 0.2 g/t Au
45 46 1m @ 0.21 g/t Au
45 50 5m @ 0.06% Cu
55 57 2m @ 0.08% Cu
68 69 1m @ 0.23 g/t Au & 0.05% Cu
83 90 7m @ 0.12% W inc. 1m @ 0.61% W
85 86 1m @ 0.24 g/t Au & 0.11% Cu
94 95 1m @ 0.05% Cu
97 98 1m @ 0.23 g/t Au & 0.06% Cu
108 109 1m @ 0.05% Cu
112 114 2m @ 0.05% Cu
119 123 4m @ 0.05% Cu
128 129 1m @ 0.07% Cu
139 150 11m @ 0.06% Cu
EMRC06 138 9 20 11m @ 0.07% Cu
11 13 2m @ 0.63 g/t Au
26 38 12m @ 0.37 g/t Au & 0.23% Cu inc. 1m @ 1.3 g/t Au & 1.0% Cu,
1m @ 1.4g/t Au & 0.63% Cu
66 67 1m @ 0.2 g/t Au & 0.06% Cu
83 86 3m @ 0.51 g/t Au
103 105 2m @ 1.5 g/t Au
126 127 1m @ 0.22 g/t Au

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APPENDIX 3

TENEMENT STATUS

All tenement applications continue to pass through the approvals process with the tenements remaining in good standing as of the 30[th] of June 2021 (Table 1.1 – Figure 1.1).

Table 1.1. TENEMENT STATUS

Tenement
Number
Name Tenement Type Areas in km2 unless
otherwise specified
Interest Location
MIN006619 Mt View2 Mining License 224 Ha 100% NE Victoria
EL5315 Mitta Mitta4 Exploration Licence 172 100% NE Victoria
EL006016 Rushworth4 Exploration Licence 32 100% Central Victoria
EL006277 Empress Exploration Licence 165 100% NE Victoria
EL006300 Eskdale3 Exploration Licence 183 100% NE Victoria
EL006486 Mt Creek Exploration Licence 190 100% NE Victoria
EL006861 Buckland Exploration Licence 414 100% NE Victoria
EL007007 Union4 Exploration Licence 3 100% Central Victoria
EL006994 Wangara Exploration Licence 142 100% Central Victoria
EL007008 Buckland West Exploration Licence 344 100% NE Victoria
EL006764 Cravensville Exploration Licence 170 100% NE Victoria
EL006865 Dart EL (Application) 567 100% NE Victoria
EL006866 Cudgewa EL (Application) 508 100% NE Victoria
EL007099 Sandy Creek EL (Application) 437 100% NE Victoria
EL007170 Berringama EL (Application) 27 100% NE Victoria
EL007430 Buchan EL (Application) 546 100% Gippsland
EL007435 Goonerah EL (Application) 587 100% Gippsland
EL007425 Deddick EL (Application) 341 100% Gippsland
EL007428 Boebuck EL (Application) 355 100% NE Victoria
EL007426 Walwa EL (Application) 499 100% NE Victoria
RL006615 Fairley’s2 Retention License 340 Ha 100% NE Victoria
RL006616 Unicorn1&2 Retention License 23,243 Ha 100% NE Victoria

All tenements remain in good standing as of 30[th] June 2021.

NOTE 1: Unicorn Project area subject to a 2% NSR Royalty Agreement with Osisko Gold Royalties Ltd dated 29 April 2013.

NOTE 2: Areas subject to a 1.5% Founders NSR Royalty Agreement.

NOTE 3: Areas are subject to a 1.0% NSR Royalty Agreement with Minvest Corporation Pty Ltd (See DTM ASX Release 1 June 2016).

NOTE 4: Areas are subject to a 0.75% NSR Agreement on gold production, payable to Bruce William McLennan.

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Figure 1.1: Location of Dart Mining’s exploration properties in Northeastern Victoria.

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APPENDIX 4

JORC CODE, 2012 EDITION – TABLE 1

SECTION 1 SAMPLING TECHNIQUES AND DATA

Criteria JORC Code Explanation Commentary
Sampling techniques
Nature and quality of sampling (e.g. cut channels, random chips, or
specific specialised industry standard measurement tools appropriate to
the minerals under investigation, such as down hole gamma sondes, or
handheld XRF instruments, etc.). These examples should not be taken as
limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and
the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are Material to the
Public Report.

In cases where ‘industry standard’ work has been done this would be
relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for
fire assay’). In other cases more explanation may be required, such as
where there is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (e.g. submarine nodules)
may warrant disclosure of detailed information.

Reverse Circulation (RC) drilling was used to obtain 1m bulk samples (~ 25 kg)
which were collected in plastic bags and examined for lithological logging
purposes.

Samples off the cyclone were split via a cone splitter, with duplicate splits
collected in calico bags, which were removed every 1m to produce 1m composite
samples (~ 1.5kg). One calico was sent for assay, and one was retained as library
sample. The second calico was sent for assay every 20 samples as a field duplicate.
The cyclone was cleaned out at the end of each hole and periodically during
drilling.

In interpreted mineralised or altered zones, 1m samples were submitted for
analysis.

In interpreted unmineralized zones, 1m sample composites were submitted.

Samples submitted to ALS were whole sample crushed to 70% <2mm, riffle/rotary
split off 1 kg, pulverise to >85% passing 75 microns, then assayed by ALS methods
AU-AA26 (50g sample aliquot by fire assay), ME-MS61 (0.25g sample aliquot by
four-acid digest and ICP-MS and ICP-AES analysis), Cu-OG62 (0.4g sample aliquot
by three acid digest, HCL leach and ICP-AES), and Ag-OG62 (0.4g sample aliquot by
three acid digest, HCL leach and ICP-AES).

Certified Reference Materials OREAS 235, OREAS 237, OREAS 245, OREAS 503d,
OREAS 504c and OREAS 506 as well as CRM blank OREAS C27c were inserted every
10 samples aspart of aQA/QC system.
Drilling techniques
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air
blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc.).

RC drillholes were drilled by Durock Pty Ltd limited over the extent of mineralised
structures.

Face sampling 5 ¾’ RC drilling

Holes EMRC01 & EMRC02 were surveyed using a Trushot camera. Verified using
clinometer and compass survey of rods.

Holes EMRC03 to EMRC06 were surveyed with an Axis Champ gyro.

All-drill related data are referenced to the original ASX report by date published. All
details appear in the original report.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and
results assessed.

Measures taken to maximise sample recovery and ensure representative
nature of the samples.

Whether a relationship exists between sample recovery andgrade and

Each 1m sample was weighed and results recorded to monitor sample recovery – a
high average recovery was achieved in all holes.

Experienced geologists ensured best drilling and sampling practices were
maintained.

Experienced drillers ensured best drillingand sampling practices were maintained,

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whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
including pausing drilling between sample intervals to ensure all sample is out of
the system and regular cleaning of the sampling equipment.

There was no observable relationshipbetween sample recoveryandgrade.
Logging
Whether core and chip samples have been geologically and
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc.) photography.

The total length andpercentage of the relevant intersections logged.

Drill chips were geologically logged at 1m intervals for lithology (including quartz
types and percentages), alteration and mineralisation, and drilling conditions.

Representative chips from each metre were collected in chip trays. Chip trays were
photographed.

100% of the drilling was logged.
Sub-sampling
techniques and sample
preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc. and whether
sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the
sample preparation technique.

Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the in
situ material collected, including for instance results for field
duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material
being sampled.

Samples were collected from a cone splitter mounted directly beneath the cyclone.

Samples from all intervals were collected as 1m composite samples at the splitting
stage at the drill site.

12.5% of the sample was split with the remainder collected in residue bags.

All samples above 125m were dry in hole EMRC01, below this between 125-165m,
12 wet samples were collected.

All samples above 147m in hole EMRC05 were dry; below this 9 wet samples were
collected.

The sampling procedure is appropriate for the mineralisation style of
disseminated copper-gold and is better described in the body of the report.

The samples were sent to ALS Global Laboratories, Pooraka SA.
Quality of assay data
and laboratory tests

The nature, quality and appropriateness of the assaying and laboratory
procedures used and whether the technique is considered partial or
total.

For geophysical tools, spectrometers, handheld XRF instruments, etc.,
the parameters used in determining the analysis including instrument
make and model, reading times, calibrations factors applied and their
derivation, etc.

Nature of quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have been established.

Samples were submitted to ALS Global (Pooraka) and analysed for gold using ALS
methods AU-AA26 (fire assay is considered a total extraction technique for gold)
and ME-MS61 (four acid digest is considered a total extraction technique for
copper exploration), Cu-OG62 (ore grade copper by three acid digest and HCl
leach) and Ag-OG62 (ore grade silver by three acid digest and HCl leach). These
techniques are appropriate and considered a total extraction technique for Au &
Cu.

Samples were whole sample crushed, pulverised and assayed by ALS method AU-
AA26, ME-MS61, Cu-OG62 and Ag-OG62.

Au standards OREAS 235, OREAS 237, and OREAS 245, along with porphyry copper
standards OREAS 503d, OREAS 504c and OREAS 506, as well as rhyodacite blanks
(OREAS C27e) were included every 20 samples as part of the internal QA/QC
system. All results are within expected confidence limits.

A field duplicate sample was collected every 20 samples and analysed within the
same sample run.

ALS conducted their own internal laboratory checks.

Laboratory blanks, standards are reviewed per batch to monitor accuracy and
precision.

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Verification of
sampling and assaying

The verification of significant intersections by either independent or
alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification,
data storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

The laboratory supplies all assay data as an export to a CSV file. The raw data is
edited to separate all duplicates and CRM results into a QA/QC tab in the CSV file
and reviewed.

Verification of significant intersections were made by alternative company
personnel.

No independent review of assay data has been carried out.

Data were logged onto paper and transferred to a spreadsheet and checked.

Electronic-only assay data is imported into a spreadsheet from the laboratory’s
electronic data.

No holes were twinned at this early exploration stage.

Below detection limit data is identified in Appendix 1 using a < character followed
bythe detection limit.
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-
hole surveys), trenches, mine workings and other locations used in Mineral
Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

The location of drill hole collars and geological mapping confirmed using a Garmin
GPSMAP 66i GPS, set to MGA94 Grid Datum (Zone 55) with topographic control
taken from the GPS. Accuracy is variable but maintained <3m during the mapping
process with constant visual quality assessment conducted.

Hand-held GPS was used to survey a control point and drill hole collar positions
are then measured by tape and compass relative to the GPS control. The accuracy
between holes is <0.5m but absolute accuracy is relative to the original GPS
control point at <5m.

Due to abrasion of stainless survey inner tube, Trushot camera was replaced with
an Atlas gyro to orient holes. Hole surveys were measured at 30m intervals
downhole.
• All maps, plans and data are on an MGA datum and GDA94 zone 55 projection.

Elevation is established from the GPS controlpoint.
Data spacing and
distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications
applied.

Whether sample compositing has been applied.

Drill sites were restricted to existing tracks. It was not intended to establish a drill
spacing for resource estimation although these holes may be used at a later date.

1m assay composites were collected at the splitter on the drill site. This sample
interval is considered appropriate for the style of gold and copper mineralisation
tested.

All drill related data are referenced to the original ASX report by date published. All
details appear in the original report.
Orientation of data in
relation to geological
structure

Whether the orientation of sampling achieves unbiased sampling of possible
structures and the extent to which this is known, considering the deposit
type.

If the relationship between the drilling orientation and the orientation of key
mineralised structures is considered to have introduced a sampling bias, this
should be assessed and reported if material.
• Drilling was restricted to existing tracks and pads. However, in all cases it was
possible to drill at a high angle to the host structures (refer figures 1 to 4), and
achieve a suitable orientation that cross cuts the mineralisation. True width
intersections are provided in drill sections, there appears to be no relationship
between drill orientation and mineralisation grades.
• Due to the steep grade of tracks and topography, hole orientation was limited or
dictated bylandscapephysiologyin some instances.
Sample security
The measures taken to ensure sample security.

All samples submitted for analysis are placed in sealed poly-weave bags and
delivered to a commercial transport companyfor deliveryto the laboratory. Any

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evidence of sample damage or tampering is immediately reported by the laboratory
to the company and a decision made as to the integrity of the sample and the
remainingsamples within the damaged/tampered bag/s.
Audits or reviews
The results of any audits or reviews of sampling techniques and data.

An internal review of procedures, operations, sampling techniques and analytical
techniques was made by Dart Mining.

All drillingand assaydata is validated upon entryinto the EarthSQLQuest database.

SECTION 2 REPORTING OF EXPLORATION RESULTS

Criteria JORC Code Explanation Commentary
Mineral tenement
and land tenure
status

Type, reference name/number, location and ownership including agreements
or material issues with third parties such as joint ventures, partnerships,
overriding royalties, native title interests, historical sites, wilderness or
national park and environmental settings.

The security of the tenure held at the time of reporting along with any known
impediments to obtaining a licence to operate in the area.

All tenements remain in good standing as of 30thJune 2021.

Details of Dart Mining tenements shown in Appendix 3 and Figure 1.1

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Tenement
Number
Name Tenement Type Area (km2)
Unless specified
Interest Location
MIN006619 Mt View2 Mining License 224 Ha 100% NE Victoria
EL5315 Mitta Mitta4 Exploration Licence 172 100% NE Victoria
EL006016 Rushworth4 Exploration Licence 32 100% Central Victoria
EL006277 Empress Exploration Licence 165 100% NE Victoria
EL006300 Eskdale3 Exploration Licence 183 100% NE Victoria
EL006486 Mt Creek Exploration Licence 190 100% NE Victoria
EL006861 Buckland Exploration Licence 414 100% NE Victoria
EL007007 Union4 Exploration Licence 3 100% Central Victoria
EL006764 Cravensville Exploration Licence 170 100% NE Victoria
EL006865 Dart EL (Application) 567 100% NE Victoria
EL006866 Cudgewa EL (Application) 508 100% NE Victoria
EL006994 Wangara EL (Application) 142 100% Central Victoria
EL007008 Buckland West EL (Application) 344 100% NE Victoria
EL007099 Sandy Creek EL (Application) 437 100% NE Victoria
EL007170 Berringama EL (Application) 27 100% NE Victoria
EL007430 Buchan EL (Application) 546 100% Gippsland
EL007435 Goonerah EL (Application) 587 100% Gippsland
EL007425 Deddick EL (Application) 341 100% Gippsland
EL007428 Boebuck EL (Application) 355 100% NE Victoria
EL007426 Walwa EL (Application) 499 100% NE Victoria
RL006615 Fairley’s2 Retention License 340 Ha 100% NE Victoria
RL006616 Unicorn1&2 Retention License 23,243 Ha 100% NE Victoria
All tenements remain in good standing at 30th June 2021.
NOTE 1:Unicorn Project area subject to a 2% NSR Royalty Agreement with Osisko Gold Royalties Ltd
dated 29 April 2013.
NOTE 2:Areas subject to a 1.5% Founders NSR RoyaltyAgreement.
NOTE 3:Areas are subject to a 1.0% NSR Royalty Agreement with Minvest Corporation Pty Ltd (See
DTM ASX Release 1 June 2016).
NOTE 4:Areas are subject to a 0.75% Net Smelter Royalty on gold production, payable to Bruce
William McLennan.
Exploration done
by other parties

Acknowledgment and appraisal of exploration by other parties.

Between 1986 and 1988 the Granite Flat area was worked by Meltech Ltd on
behalf of Alluvial Prospectors Ltd, with soil sampling identifying strong soil
anomalies and six diamond drill holes completed. From 1990 to 1995, CRA
Exploration (now Rio Tinto) completed extensive exploration in the search for a
bulk minable resource. This included expansion of the soil grid, sampling of 18
costeans, 32 reverse circulation (RC) and the 13 Diamond drillholes, along with
aeromagnetic, ground magnetic and induced polarity surveys of the site. In late
1994 Perseverance Mining Ltd entered into a joint-venture agreement with CRA
Exploration, working the Granite Flat prospect from 1996 to 1999, completing an
additional 20 RC drill holes. From 2006 to 2008, Synergy Metals Ltd conducted
minor stream sediment and soil sampling of the site before transferring the
license to Glen Wills Gold Mines NL in 2009. Glen Wills Gold Mines held the
license until 2016,completingsome minor soil and stream sediment sampling

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studies.
Geology
Deposit type, geological setting and style of mineralisation.

EL006277 is located in the Omeo structural zone of the Lachlan Fold Belt in
eastern Victoria. The EL is underlain by metamorphosed Lower Ordovician
Pinnak Sandstone and its higher-grade metamorphic equivalents in the Omeo
Metamorphic Complex to the south. The Banimboola Quartz Monzodiorite
(BQM) intruded during the early Devonian and is a highly magnetic I-type
composite pluton that has been placed in the Boggy Plain Supersuite (Wyborn, et
al., 1987). Aeromagnetic data from the Geo Vic database indicates that the BQM
is a compositepluton with a variable magnetic signature.
Drill hole
Information

A summary of all information material to the understanding of the
exploration results including a tabulation of the following information for all
Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation above sea level in metres) of
the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.

If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain
why this is the case.

All drillhole data (location, RL, azimuth, dip, depth etc.) for drill holes EMRC01 to
EMRC06 are presented in text of the main body of the report, and in Appendix 1
& 2.

Additional historic drillhole collar information is presented in previous Dart
Mining ASX Announcements and Releases. An archive of historic Dart Mining ASX
releases is held at:https://www2.asx.com.au/markets/trade-our-cash-
market/announcements.dtm

All down hole weighted average gold and copper grade data quoted as significant
intersections is provided as down hole widths and calculated using a lower cut-off
grade of 0.2 g/t Au and 500ppm Cu, with no more than 2m of internal dilution
(unless otherwise stated).

All drill-related data are referenced to the original ASX report by date published.
All details appear in the original report.
Data aggregation
methods

In reporting Exploration Results, weighting averaging techniques, maximum
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off
grades are usually Material and should be stated.

Where aggregate intercepts incorporate short lengths of high-grade results
and longer lengths of low-grade results, the procedure used for such
aggregation should be stated and some typical examples of such
aggregations should be shown in detail.

The assumptions used for any reporting of metal equivalent values should be
clearly stated.

All down hole weighted average gold and copper grade data quoted as significant
intersections is calculated using a lower cut-off grade of 0.2g/t Au and 500 ppm
Cu, with no more than 2m of internal dilution in each drill hole unless clearly
stated. All intercepts for gold, copper, silver, molybdenum and tungsten assay
data above cut-off thresholds is tabulated in Appendix 2 for all holes. The
nominal sample length in potentially mineralised intervals is 1m with any 1m
sample lengths in unmineralized sections, requiring a length weighted average
technique to be used for reporting intersections.
Relationship
between
mineralisation
widths and
intercept lengths

These relationships are particularly important in the reporting of Exploration
Results.

If the geometry of the mineralisation with respect to the drill hole angle is
known, its nature should be reported.

If it is not known and only the down hole lengths are reported, there should
be a clear statement to this effect (e.g. ‘down hole length, true width not
known’).

The relationship between the drill hole and the geometry of the mineralised
structures is clearly presented in a series of summary cross sections and drill
plans (Figures 1-5). The angle between the drill hole and the mineralisation
structure is variable with an interpretation of the relative geometry presented as
cross sections down hole, down hole average grades are also presented on these
drill sections and are representative of the current geological interpretation, this
interpretation may change over time as more drilling information become
available. Structural interpretation is constrained with surface geological mapping
and down hole lithologylogging.

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Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts
should be included for any significant discovery being reported These should
include, but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.

A summary table showing the hole location and orientation for all drilling is
presented in Appendix 1. Drill plans and cross sections are also presented for all
holes to illustrate the relationship between drill holes and average grades from
down hole intersections within the target structures.
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable,
representative reporting of both low and high grades and/or widths should
be practiced to avoid misleading reporting of Exploration Results.

All grade details and intercepts are included in the body of the report and in
Appendix 2 of this release.

Summary (weighted average) grade intersections is provided as cross sections
and tabulated data referenced in the bodyof the report.
Other substantive
exploration data

Other exploration data, if meaningful and material, should be reported
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples – size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.

Any other relevant information is discussed in the main body of the report.
Further work
The nature and scale of planned further work (e.g. tests for lateral extensions
or depth extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including the
main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.

Planned work is discussed in the body of the report and is dependent on future
company direction.