Dart Mining’s (ASX: DTM) principal project is Unicorn – a molybdenum-copper-silver porphyry deposit with strong geological similarities to the Henderson molybdenum mine in Colorado, USA. The company also has two gold projects including Mountain View and Fairley’s disseminated gold prospect.
The Gilmore suture - a proven host of substantial porphyry mines including North Parkes, Cadia and Ridgeway in NSW and the Benambra VMS deposit in Victoria - crosses into Dart Mining’s 2500 square kilometres of tenements.
Dart Mining (ASX: DTM) has responded to an ASX price query speeding ticket today, after the company's shares spiked to $0.084 last Friday - a 24% increase from two days earlier.
Dart responded to the ASX and said that the company is not aware of any material information that has not been released to the market, which may explain the sudden investor interest.
The company did however note in the response to the ASX:
'DUNDD008 intersecting at a depth of 248 metres, a 40 metre thick zone of molybdenum to the end of the hole at grading 0.08% molybdenum, including an 18 metres section at 0.11% molybdenum.
'A recent successful capital raising of $1.1 million through the placement of 20.9 million shares at $0.05 under the SPP and to sophisticated investors'.
Dart also told the ASX of the company's intention to announce an Inferred JORC Resource in the December quarter of 2011.
In the first half hour of trade today, Dart's shares are changing hands at around $0.08.