Triumph Gold Project Resource Rises to 150,000oz; $3M Capital Raised

Resource Growth at Triumph

Dart Mining NL (ASX: DTM) has delivered a robust update for the March 2025 quarter, highlighted by a 27% increase in the inferred gold resource at its flagship Triumph Gold Project in Central Queensland. The updated JORC-compliant Mineral Resource Estimate now stands at 2.16 million tonnes grading 2.17 g/t gold, equating to 150,000 ounces at a 1 g/t cut-off. This uplift reflects both an increase in contained ounces and an improved grade, primarily driven by new drilling intercepts at the Bald Hill and Constitution prospects.

The resource remains open along strike and at depth, with 43% of ounces within the first 50 meters and 77% within the first 100 meters, underscoring the potential for near-surface open-pit mining. Dart is considering targeted economic studies to refine cut-off grades and enhance resource valuation as gold prices trend higher.

Operational Advances and Drilling Progress

During the quarter, Dart completed 631 meters of diamond drilling at the Constitution prospect, overcoming early challenges related to weather and staffing. Operational improvements, including the deployment of two full-time drill crews, have accelerated drilling rates and penetration, with expectations for further gains in the June quarter. Notably, the drilling has intersected significant sulphide mineralisation with promising veining beyond the current resource boundaries, indicating potential for resource expansion.

Surface sampling and fieldwork have also identified additional prospective zones within the Triumph project area, including historic mining sites such as the Dents and Bonneville regions, where sulphide-rich quartz veins have been located. These early-stage exploration efforts aim to delineate mineral zonation and guide future drilling campaigns.

Strategic Joint Venture and Capital Raising

In a strategic move to broaden its footprint in Central Queensland, Dart entered into a binding joint venture agreement with Great Divide Mining (ASX: GDM) to earn up to a 51% interest in the Coonambula Gold-Antimony project. This project, located near established goldfields, offers promising high-grade antimony and gold mineralisation with limited modern exploration to date. Dart plans initial drilling to infill historical high-grade intersections and work towards a JORC-compliant resource.

To support its exploration ambitions, Dart successfully raised A$3 million through a two-tranche placement at A$0.005 per share, with $528,000 received during the quarter and the balance expected post-shareholder approval. The capital raising was complemented by a positive investor roadshow across major Australian cities and London, reflecting strong market interest in Dart's growth strategy.

Portfolio Rationalisation and Financial Position

Consistent with its focus on Queensland, Dart is progressing negotiations to divest non-core Victorian assets while maintaining upside exposure. The company also relinquished a minor tenement in New South Wales. Financially, Dart ended the quarter with a modest cash balance of $43,000 but anticipates inflows of $2.45 million in the June quarter from the capital raise and additional due diligence payments related to Victorian asset divestments.

Chairperson James Chirnside emphasised the company's operational momentum and strategic clarity, noting the widening valuation gap between gold prices and micro-cap gold stocks, which he expects to narrow. The company’s enhanced drilling productivity and resource growth position Dart well for the next phase of exploration and development.