Unicorn's third drill program is underway with intent to confirm a maiden JORC Inferred Resource

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Unicorn Project

Work at Unicorn Mo-Cu-Ag has shown mineable grade mineralisation associated with a large multipulseporphyry intrusive system with overlapping phases of molybdenum, copper and silver mineralisation throughout. It has many characteristics similar to the giant Henderson and Climax molybdenum mines in Colorado, USA. Climax style deposits form the largest primary molybdenum deposits worldwide and typically occur as clusters. 

Initial resource drilling defined an extensive area of mineralisation including  436m @ 0.05% Molybdenum (Mo) including multiple higher grade zones of up to 0.63% Mo and zones of highly significant Copper (Cu) - 106m @ 0.15% Cu and Silver (Ag) - 106m @ 4.5 ppm Ag. Grades appear encouraging with >0.05% Mo a potentially mineable grade. The mineralisation zone remains open at depth.

The third drilling program, commenced May 2011 will see a series of diamond drill holes of up to 600m to better define the size and grade of the mineralisation associated with the Unicorn porphyry.   The first drill hole will test the continuation of known mineralisation to the north and at depth and results from this initial deep hole will assist with finalising the scope of the drilling program.  It is planned to determine an Inferred Resource in the top 300-400m of the system. Dart’s focus is on getting the basics right to move Unicorn to its maiden JORC compliant resource and identify the full potential of the prime tenement package in an expanding new mineral province.

Unicorn aerial photo with geochemistry overlay

Unicorn stacked geochemistry map

Molybdenum

Molybdenum is an essential metal used in the manufacture of steel where it adds strength, hardness and toughness to steel as well as increases steel’s resistance to corrosion.  Molybdenum also has a range of chemical uses including in paints, plastics and catalysts. The molybdenum market is small at 220,000tpa in 2010 with 47% of supply by-products from copper mines and 53% from dedicated primary molybdenum mines.

The world demand for molybdenum is growing. Molybdenum is priced at approximately US$36,000 per tonne being about four times that of copper at approximately US$8800 per tonne with silver at about US$38/oz.