Dart Mining NL has agreed to acquire a 100 per cent interest in an 865-square-kilometre tenure package in the Yamarna district of Western Australia.
The acquisition covers one granted exploration licence and seven applications across two strategic hubs, Yamarna South and Yamarna North, comprising an area of 865 square kilometres.
Situated roughly 25 kilometres west of Gold Fields’ eight-million-ounce Gruyere gold mine, the underexplored landholding covers key shear zones prospective for large-scale gold and lithium pegmatite systems.
To fund exploration across the new assets and its existing portfolio, Dart Mining has secured AU$2 million in firm commitments for a two-tranche placement to investors.
The capital raise involves issuing approximately 235.3 million shares at 0.85 cents per share, including a AU$60,000 combined subscription from company directors.
Dart Mining Chairman James Chirnside said: “This acquisition delivers Dart Mining a district-scale, 865 square kilometres land opportunity in the highly prospective Yamarna district, including the Yamarna Shear Zone and Yamarna Greenstone Belt.
“Despite this exceptional geological setting, the project remains substantially underexplored. This acquisition provides our shareholders with a genuine discovery opportunity in a Tier-1 jurisdiction, and we look forward to applying a systematic, model-driven exploration approach to unlock the project’s potential.”
Total consideration for the target entities includes AU$75,000 in upfront cash, a 1 per cent net smelter return royalty, and AU$320,000 worth of Dart Mining shares.
The share component comprises AU$40,000 upfront for the granted licence and AU$280,000 in deferred tranches linked to the granting of pending applications, alongside 18.8 million unquoted options.
Completion of the acquisition remains subject to standard 30-day due diligence and shareholder approvals, which will be sought at a general meeting targeted for late September.
Target director Cain Fogarty is expected to join Dart Mining as a technical advisor following completion.
