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DART MINING NL — Investor Presentation 2007
Sep 18, 2007
64792_rns_2007-09-18_f9e71134-7718-4b52-adbd-f53737f4887b.pdf
Investor Presentation
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ASX RELEASE 19 September 2007
ASX CODE DTM
Cutting Edge Series Presentation
Please find following a presentation by Chairman Chris Bain given to the Melbourne Mining Club for their Cutting Edge Series on the 18 September 2007.
Further information: Investors: Dart Mining NL John Quayle Chief Executive Officer 03 9621 1322
Media:
Gryphon Management Australia Joanna Zadkovich 03 9670 1501 0409 609 890
Chris Bain Chairman 03 9621 1322
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Level 3, ~~15 Queen Street Melbourne, Victoria, 3000, Australia~~
TELEPHONE +61 3 9621 1322 FACSIMILE +61 3 9621 1544 EMAIL [email protected] WEB www.dartmining.com.au ACN 119 904 880
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MELBOURNE MINING CLUB CUTTING EDGE SERIES 18 September 2007
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The company, its tenements and people
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Historical perspective of gold mining in Victoria’s north-east
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Dart’s key projects
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Fairley’s
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Mt Elliott
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Mountain View
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Regional exploration including porphyrys
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DART MINING EXPLORING VICTORIA’S NORTH EAST
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TENEMENTS
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A small focused team comprising:
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Dean Turnbull & Bernie Hochwimmer geologists had the vision to explore the region
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Stephen Poke provided initial seed capital
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Chris Bain pulled together the corporate structure and raised the seed capital
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Richard Udovenya provided legal support; and
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CEO John Quayle provides extensive corporate operational experience
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Currently supported by two field assistants
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The core tenements were granted in 2003 and exploration began
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First small drill program in May 2006 gave positive results and allowed the company to raise seed capital
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Listed on the ASX on 10 May 2007 after an IPO that raised $5million
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Issued Capital
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42,750,000 issued shares of which 26,937,501 are listed and another 2,652,084 from the seed capital raising will become tradable in late Oct 2007.
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21,375,000 listed 20 cent options exercisable up to 31 May 2010
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8,875,000 partly-paid unlisted shares issued to vendors and seed capital providers
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2,800,000 unlisted 20 cent options
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Active in the 1890s the goldfields of the north east were initially very rich but the early expectations quickly faded due to:
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the gold although typically high grade, is finely disseminated in sulphide rich lodes
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the technology of the day was inadequate to extract the gold, despite the use of mercury and in at least one case chlorine
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water inflow – once the water table was reached the miners were unable to keep the mines dry
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poor access – the road through the Dart goldfield was constructed in the 1930s, until then everything was transported by bullock train or horse
BUCKLAND GOLDFIELD
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Historically Buckland was a major alluvial goldfield, Dart Mining recognises a key structural component to the primary distribution of gold
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Recent exploration has identified a 310[o ] trend which defines a series of broad mineralised shears within which a series of historic prospects have been rediscovered
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Ongoing exploration will target the definition of new prospects in this area
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UPPER ADIT FAIRLEY’S 1897
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UPPER ADIT FAIRLEY’S 2007
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“In April 1897 crushing machinery was placed on the ground by the Fairley’s Creek GM Co. Ltd, a London based company with £30,000 working capital.”
“The 30 head battery was the largest set up on any of the Upper Ovens goldfields”
“In November 1898 it was reported that crushing had been carried out continuously … The stone was of a low yield but reported to be paying handsomely”
Swift, A. Mining for Buckland Gold , in Talbot, D. 2005. The Buckland Valley Goldfield
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FAIRLEY’S GEOCHEMISTRY
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FAIRLEY’S LONG SECTION – PLANNED DRILLING
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CENTENNIAL GEOCHEMISTRY
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MT ELLIOTT GOLDFIELD
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HISTORICAL NOTE – MT ELLIOTT
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“After the main workings had ceased on the Mt Elliott goldfield, it was decided to take the crushings from the rich New Chum Mine and use them as metal for the road passing through Corryong. Stiff opposition came from the men who had mined on Elliott, and knew that, due to the primitive methods used for extracting gold, these crushings were still rich in unclaimed gold, capable of being worked at some time in the future. The protests were ignored. Dray load after dray load of the mine waste was spread on the road surface to give it body.” Carmody, J. 1981, Early days of the Upper Murray
MT ELLIOTT GOLDFIELD
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DART GOLDFIELD
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“The discovery of a number of rich gold reefs in 1883 caused some excitement, and by December 1884 lines of leases had been taken out ….”
These reefs were all heavily mineralised at depth and became unworkable. The field eventually failed because of this and the lack of a good road into the area”
Flett J. 1970 , The History of gold discovery in Victoria
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MOUNTAIN VIEW PROSPECT
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Hole MVD20 from 3 metres 6m @ 21.79 g/t gold including 2m @ 59.25 g/t gold
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Hole MVD19 from 4 metres 7m @ 6.16 g/t gold including 2m @ 8.99 g/t gold
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Hole MVD17 from 3 metres 6m @ 6.05 g/t gold including 4m @ 8.36 g/t gold
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Hole MVD04 from 9 metres 3m @ 6.57 g/t gold
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Extended soil anomaly including rock chip sample of 106g/t gold and indications of a second parallel mineralised zone
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Drilling at Mt Elliott - the drill sites are ready awaiting the drill rig.
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Track work at Fairley’s in preparation for drilling – the work plan is approved
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Follow up drill program to extend the high grade mineralisation at Mountain View
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Continue sampling and mapping to identify a priority target for deep conceptual drill hole at one of the Porphyrys with a view to drilling there next year
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Follow up the best gold prospect results with a view to drilling up an inferred resource through 2008
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Ongoing regional exploration
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Dart is well funded to carry out its exploration program on the forgotten goldfields of NE Vic and SE NSW
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Work is well underway with excellent results from the drilling at Mountain View
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Field work has discovered a significant cluster of disseminated gold mineralised systems in the Buckland EL
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Sampling and structural interpretation continues to generate targets
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Drilling to recommence soon at Mt Elliott, then Fairley's and back to Mountain View
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Our aim is to be working toward an inferred resource on one of the gold properties during 2008