Dart Mining unveils new plan for Australian base metals project

24 March 2014 (Last Updated March 24th, 2014 18:30)

Dart Mining has unveiled a 15 month strategic plan to advance its Unicorn base metals project in Victoria, Australia.

Dart Mining has unveiled a 15 month strategic plan to advance its Unicorn base metals project in Victoria, Australia.

The new plan includes the staged expenditure of A$9.9m to accelerate the completion of a preliminary feasibility study at the project, as well as to advance the company's exploration portfolio within the region.

Dart Mining has already started the first stage of the plan with petrology and mineralogy work under way to define the potential impact and distribution of the copper-zinc separation issue.

The work will further clarify the full suite of the inter-related feasibility studies at the project, and is planned to be completed by July.

"I believe the current board has initiated restored stakeholder confidence."

The remaining stages of the plan include resource upgrade drilling, accelerated work on establishing and expanding data acquisitions and performing the environmental study work, as well as engineering infrastructure studies and mine and processing plant designs and associated costings.

Dart Mining chairman Bruce Paterson said the company's key initial task has been to restore momentum at the Unicorn project by outlining objectives, tasks, timing and funding requirements.

"In doing this, as well as maintaining our geoscience commitment and rejuvenating regional exploration, I believe the current board has initiated restored stakeholder confidence," Paterson said.

The Unicorn project is a molybdenum, copper and silver climax-style porphyry that has similar geological characteristics to the Henderson climax-style primary molybdenum porphyry mine in Colorado, US.

The company said that a series of encouraging exploration results announced from its north-east Victoria tenement package surrounding the Unicorn deposit, continue to highlight the region's growing prospectivety.

Dart Mining noted that it also underscores the determination to re-focus its geoscience research and development model to recognise new porphyry related discoveries within the founding tenement areas.

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