Investor Presentation - August 2025
Released
Released
Announcement PDF
AUG 2025
INVESTOR
P R E S E N TAT I O N
INVESTOR -
F O R WA R D L O O K I N G
S TAT E M E N T S C A U T I O N
Certain statements contained in this document
constitute forward looking statements. Such forwardlooking statements are based on a number of
estimates and assumptions made by the Company
and its consultants in light of experience, current
conditions and expectations of future developments
which the Company believes are appropriate in the
current circumstances.
2
This presentation contains visual estimates of mineralisation
and the company would like to stress that visual estimates of
mineralisation abundance contained in this announcement
should never be considered a proxy or substitute for Laboratory
analysis. Visual estimates potentially provide no information
regarding concentration of economic grades or factors, impurities
or deleterious physical properties relevant to valuation.
These estimates and assumptions while considered reasonable
by the Company are subject to known and unknown risks,
uncertainties and other factors which may cause the actual
results, achievements and performance of the Company to be
materially different from the future results and achievements
expressed or implied by such forward-looking statements.
Investors are cautioned that forward looking
information is no guarantee of future performance and
accordingly, investors are cautioned not to place undue
reliance on these forward-looking statements.
The Company confirms that in the subsequent investor
presentation that it is not aware of any new information
or data that materially affects the information included
in the presentation and that all material assumptions
and technical parameters underpinning the estimates
in the relevant market announcements continue
to apply and have not materially changed.
ASX: DTM
INVESTOR -
3
C O R P O R AT E P R O F I L E
Board of Directors
MR. JAMES CHIRNSIDE
MR. DEAN TURNBULL
M R . R I C H A R D U D O V E N YA
M R . T E R R Y B AT E S
EXECUTIVE CHAIRMAN, CEO
NON-EXECUTIVE DIRECTOR,
N O N - E X EC U T I V E D I R ECTO R , L AW Y E R
NON-EXECUTIVE DIRECTOR
Richard Udovenya is the principal of the
law firm ResourcesLaw International
(Melbourne) which focusses on natural
resources projects in Australia and
Africa. Mr. Udovenya has almost 40
years legal experience in Australia and
New Zealand, and is a director of, and a
legal advisor to, several Australian and
international resources companies.
Terry Bates is Head of Business
Development for Dart Mining. Mr. Bates
has an Honours degree in Geology from
the University of Melbourne, an MBA and
Company Directors Diploma (AICD). He
worked as an exploration geologist before
enjoying a diverse career in business and
environmental management, and as a
Company Director. Mr. Bates has worked
on mining projects in varying capacities
in Australia, West Africa, Europe, South
America, and the Asia-Pacific region.
Mr. Bates loves researching exploration
and mining companies and assisting
the development of their strategy and
pursuit of the next big mineral discovery
or mine development. Mr. Bates has
strong expertise in corporate strategy and
management systems.
FOUNDER, GEOLOGIST
James Chirnside has been professionally
engaged in the financial, commodity,
and mining industries over a forty-year
period. Throughout that period, he has
worked in Fund Management, Commodity
Trading, Investment Banking, and Mining
Operations. Mr. Chirnside studied for
a Bachelor of Business degree at Edith
Cowan University in Perth, Western
Australia, and has been Executive
Chairman of Dart Mining since 2016.
Dean Turnbull is a geology graduate
from the Bendigo College of Advanced
Education and has a Postgraduate Honours
degree in geology from the Key Centre
for Ore Deposit and Exploration Studies
(CODES) at the University of Tasmania. Mr.
Turnbull has over 30 years’ experience as
an exploration / mine geologist specialising
in 3D geological and structural modelling
and was instrumental in the discovery and
subsequent exploration of the Unicorn
Porphyry Mo – Cu – Ag project. Mr. Turnbull
was the first to recognise and explore
the lithium potential of the Dorchap LCT
dyke swarm. Mr. Turnbull is a member of
Australian Institute of Geoscientists.
ASX: DTM
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DA R T M I N I N G T E A M
MR. OWEN GREENBERGER
MRS. ANISSA DORMAN
M R . A N D R E W DAW E S
MR. ANTHONY SLEEMAN
H E A D O F E X P L O R AT I O N
CFO
H E A D O F Q U E E N S L A N D E X P L O R AT I O N
H E A D O F D R I L L I N G A N D O P E R AT I O N S
Owen Greenberger has 20 years of practical
experience as a geologist in a broad range of
projects including Exploration, Mine Geology
and Resource Estimation. After completing
a bachelor’s degree in science from Monash
University in Melbourne, Mr Greenberger
commenced his geology career at the
Fosterville Gold Mine where he held several
positions across mining and exploration.
He played a key role in the discovery of the
Lower Phoenix system, before assuming
senior roles across the company’s projects
in Victoria and the Northern Territory. Mr
Greenberger joined Dart Mining in 2023
to lead the company’s exploration team
and to advance the strategically important
tenement lease holdings across
Eastern Australia.
Anissa Dorman is a Chartered Accountant
with over 20 years’ experience in Public
Practice specialising in compliance, tax
planning and business development for
medium to large enterprises as well as
Human Resource issues, software support,
business valuations, benchmarking and
cash flow forecasting. During this time
Anissa has also worked part-time in the
education space at both TAFE and University
Levels. With a Bachelor of Business in
Accounting from Charles Sturt University
and post graduate studies with the Institute
of Chartered Accountant Australia and New
Zealand as well as a Certificate IV in Training
and Assessment.
Andrew Dawes has over 14 years of
experience in mining, exploration and
resource estimation. His extensive practical
experience includes projects in copper,
gold, coal, cobalt, silver, PGEs, lithium, zinc,
chromite and tungsten in both open pit
and underground mining. His background
is focused on developing the true value of
an orebody via sound orebody knowledge
exploration and evaluation. Mr. Dawes
experience through the mining project cycle
includes early- stage target generation,
green and brownfields exploration, project
studies, development execution, mining,
reconciliation, and closure planning. His
exploration experience includes all facets
of mineral and coal exploration and has
provided a strong basis for
project evaluation.
Anthony Sleeman joined Dart Mining in
January 2025 and was appointed Head
of Drilling and Operations. Anthony is a
Certificate 3 qualified driller and a heavy
vehicle and diesel Mechanic. Anthony has
substantial commercial drilling experience
having worked with Lennard Drilling
for 11 years based out of Queensland.
Anthony has worked for other commercial
drilling companies including Deepcore
Drilling and Centurion Drilling. In addition,
Anthony has qualifications in First Aide,
Multi-combination truck driving, Forklift
operation, and Rigging.
ASX: DTM
INVESTOR -
5
C A P I TA L S T R U C T U R E
~$0.003
~$0.5m
SHARE PRICE
CASH
~$3.6m
~$3.1m
M A R K E T C A P I TA L I S AT I O N
E N T E R P R I S E VA L U E
1 ,1 9 8 , 0 5 5 , 5 7 7
636,361,634
110,000,000
SHARES ON ISSUE
OPTIONS ON ISSUE
ESOP
4 4 0 , 0 0 0 , 0 0 0 1 c s t r i k e 3 y e a r e x p i r y, 5 3 , 8 4 0 , 6 5 2 0 3 - O C T- 2 0 2 5
E X $ 0 . 0 2 , 74 , 3 0 4 ,1 0 5 1 3 - N O V- 2 0 2 5 E X $ 0 . 0 2 , 3 0 , 0 0 0 , 0 0 0
1c Strike, 3 year expiry
ASX: DTM
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PROJECT FOOTPRINT
TRIUMPH – GOLD / ANTIMONY
COONAMBULA GOLD / ATIMONY
RUSHWORTH – GOLD / ANTIMONY
• ~50kms south of Gladstone.
• 2,000m Diamond Drilling
programs planned.
• ~45km East of Bendigo.
• Intrusive related gold project.
• Existing Resource @ 150koz.
BUCKLAND - GOLD
• Large shear hosted, orogenic
gold system.
• Seeking interested parties for
Divestment or Joint Venture.
• Complete IP survey.
• Fosterville style
sulphide mineralisation.
• Continue to assess historic
oppertunities.
• Early stages of exploration.
NORTHERN PORPHYRIES COPPER / GOLD / MOLYBDENUM
DORCHAP –
LITHIUM / GOLD / ANTIMONY
• Large scale porphyry
intrusives with significant
exploration upside.
• Seeking interested parties for
Divestment or Joint Venture
• Prospective Lithium, Gold and
Antimony exploration titles.
• Seeking interested parties for
Divestment or Joint Venture.
ASX: DTM
DART MINING NL
Q U E E N S L A N D
P R O J E C T S
INVESTOR -
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TRIUMPH GOLD PROJECT – REGIONAL
GEOLOGICAL SET TING & FOOTPRINT
• The region is known to host major intrusion related gold (IRG)
systems, porphyry and epithermal style gold and
copper-gold systems.
• Mount Rawdon
~2.8 Moz Au
• Cracow
~3 Moz Au
• Mount Morgan
~8 Moz Au (VMS related)
• Ravenswood
~8 Moz Au
T R I U M P H – G O L D & S I LV E R P R OJ E C T
• Fractured tonalite host rock.
• Analogous to the Ravenswood Mine (5.6Moz Au Resource – 2024).
CO O N A M B U L A – A N T I M O N Y & G O L D P R OJ E C T
• New England Fold Belt geology.
L o c a t i o n o f t h e Tr i u m p h P r o j e c t s – Q L D.
• Similar geology to Hillgrove and Neardrie deposits.
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TRIUMPH GOLD PROJECT
TRIUMPH –
M I N E R A L R E S O U R C E E S T I M AT E ( M R E )
M i n e r a l R e s o u r c e E s t i m a t e ( M R E ) U P D AT E
CORRIDOR
PROSPECT
CATEGORY
TONNES (MT)
GRADE (G/T)
CONTAINED AU
(TROY OUNCES)
Southern Corridor
Big Hans
Inferred
0.46
2.30
33,903
New Constitution
Inferred
0.86
2.08
57,635
South Constitution
Inferred
0.19
2.40
14,803
Super Hans
Inferred
0.29
1.78
16,553
INFERRED
1.80
2.12
122,894
SUB-TOTAL
Northern Corridor
Total:
Bald Hill
Inferred
0.35
2.39
27,197
Inferred
2.16
2.17
150,091
A S X : D T M Tr i u m p h R e s o u r c e g r o w s t o 1 5 0 k o z ( 4 t h M a r c h 2 0 2 5 ) .
9
• Over 90% of the current Inferred
Resource at Triumph is hosted in 20%
of the strike of the Southern Corridor,
shallower than 100m.
• Initial metallurgical test work indicates
recoveries in excess of 96%.
• The resource remains open along strike
and at depth.
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TRIUMPH GOLD PROJECT
Resource Drilling Results
TRIUMPH – RECENT DRILLING
Dart has been drilling within the Inferred Mineral Resource area with the company’s
diamond drill rig to acquire important structural orientation and confirmation assay data.
TRDD001A
10.5m @ 2.63 g/t Au + 12.21g/t Ag + 1.94% Zn from 68.6m;
• Including 3.1m @ 7.42 g/t Au + 25.42 g/t Ag + 6.37% Zn from 75.5m;
TRDD003
1.9m @ 4.36 g/t Au + 6.13 g/t Ag from 146.5m
• Including 0.4m @ 18.5 g/t Au + 25.6 g/t Ag;
TRDD003
1.95m @ 3.73 g/t Au + 0.9% Zn from 82.7m;
• Including 0.3m @ 22.8 g/t Au and 52.5 g/t Ag;
TRDD002A
1.9m @ 3.42 g/t Au + 26.21 g/t Ag from 68.8m
• Including 0.3m @ 18.6 g/t Au + 152 g/t Ag; and
TRDD009
6.0m @ 1.57 g/t Au from 116.0m;
• Including 0.4m @ 4.74 g/t Au from 116.0m and 0.4m @ 17.7 g/t Au +
44.9g/t Ag from 119.5m.
A S X : D T M Tr i u m p h d r i l l i n g r e v e a l s n e w g o l d M i n e r a l i s e d z o n e s ( 3 r d J u l y 2 0 2 5 ) .
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TRIUMPH GOLD PROJECT
Resource Drilling Results
• Long projection showing drilling
intercepts from the New Constution
Loads highlighting locations of
recent drilling intercepts.
• Drilling focused on key areas for
understanding the geology controls
on mineralisation.
• This has generated a
significant improvement in our
understanding and allowed further
targeting at depth.
A S X : D T M Tr i u m p h d r i l l i n g r e v e a l s n e w g o l d M i n e r a l i s e d z o n e s ( 3 r d J u l y 2 0 2 5 ) .
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TRIUMPH GOLD PROJECT
Resource Drilling Results
Cross section showing locations
of new and existing mineralisation
which highlights the exciting potential
for addional stacked loads of
mineralisaiton outside of the Inferred
Mineral resource.
A S X : D T M Tr i u m p h d r i l l i n g r e v e a l s n e w g o l d M i n e r a l i s e d z o n e s ( 3 r d J u l y 2 0 2 5 ) .
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TRIUMPH GOLD PROJECT
Deep Drilling
T R I U M P H – P R E L I M I N A R Y D R I L L I N G R E S U LTS
TRDD011
• 10.8m @ 1.17 g/t Au from 86.5m;
• Including 0.5m @ 16.15 g/t Au and 22.50 g/t Ag from 87.0m;
• Including 0.4m @ 8.35 g/t Au and 28.80 g/t Ag from 96.9m;
• 0.35m @ 4.23 g/t Au from 143.0m; and
• 0.35m @ 3.34 g/t Au from 147.8m.
TRDD012
• 4.4m @ 8.99 g/t Au and 28.09 g/t Ag from 171.3m;
• Including 1.2m @ 30.93 g/t Au and 86.78 g/t Ag from 171.3m;
• Including 0.3m @ 114.00 g/t Au and 276 g/t Ag from 171.3m;
• 3.1m @ 7.98 g/t Au and 30.62 g/t Ag from 179.5m;
• Including 1.65m @ 14.85 g/t Au and 56.02 g/t Ag from 180.0m; and
• Including 0.5m @ 45.90 g/t Au and 157.00 g/t Ag from 180.5m.
A S X : D T M Tr i u m p h d e l i v e r s h i g h e s t g r a d e d r i l l i n t e r c e p t s t o d a t e ( 2 2 n d J u l y 2 0 2 5 ) .
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TRIUMPH GOLD PROJECT
Resource Drilling Results
Long projection showing
location of significance of
drilling intersections to the
south, and down plunge of the
existing resource at Big Hans.
A S X : D T M Tr i u m p h d e l i v e r s h i g h e s t g r a d e d r i l l i n t e r c e p t s t o d a t e ( 2 2 n d J u l y 2 0 2 5 ) .
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TRIUMPH GOLD PROJECT
Deep Drilling Results
TRIUMPH – DEEP
D R I L L I N G TA R G E T I N G
U N D R I L L E D B U L K TA R G E TS
• Deeper bulk tonnage IP geophysics
target from 2016 with the cross section
showing a ‘near miss’ drill hole from
2011 yielding intersections of 1m@30g/t
gold, 1m@8.3g/t gold and 1m@5.4g/t
gold at depth.
• This target is one of many bulk tonnage
targets at Triumph that have not been
followed up due to previous operators
being focused on shallow open pi.
A S X : M B K N e w C o n s i t u t i o n - D r i l l i n g R e i n f o r c e s B u l k To n n a g a Ta r g e t ( 2 4 t h J a n u a r y 2 0 1 7 ) .
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COONAMBULA ANTIMONY
& GOLD PROJECT
Summary & Geology
• Farm-In Agreement with Great Divide Mining.
• Earn in up to 51%.
• Highlights from 2014 drilling as per the GDM Prospectus
(ASX: GDM Prospectus 2023):
• 3m @ 9.18% Sb in hole CNRC03 from 158m.
• 6m @ 5.12% Sb & 1.55g/t Au in hole CNRC04 from 77m.
• 3m @ 1.50% Sb & 8.53g/t Au in hole CNRC05 from 18m.
• Rock chips of 44.9% Sb, 24.1% Sb, 39.9% Sb,
and 39.4% Sb (ASX: GDM Prospectus 2023).
• Shear hosted orogenic gold and antimony system.
A SX : DT M D a r t M i n i n g Ag re e m e n t o v e r Ad va n c e d A n t i m o n y G o l d P ro j e c t (1 2 t h M a rc h 2 0 2 5 ) .
Visual representation and estimation of
mineralisation quantities should not be relied on
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COONAMBULA ANTIMONY
& GOLD PROJECT
Summary & Geology
• Coonambula is 350km NW of Brisbane within the
New England Fold Belt geology that hosts world class
antimony-gold deposits such as Hillgrove
(Larvotto ASX:LRV).
• Five EPMs (282 sq.km) and one EPM application
of (277 sq.km).
• Shear hosted, orogenic gold system with strong
association of gold and antimony. All mineralisation in
intrusive rocks.
• Holds potential to define a significant intrusion related
gold system within a region of Queensland hosting similar
multiple multimillion ounce gold resources.
• Limited modern exploration, with no drilling since 2014.
A SX : DT M D a r t M i n i n g Ag re e m e n t o v e r Ad va n c e d A n t i m o n y G o l d P ro j e c t (1 2 t h M a rc h 2 0 2 5 ) .
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COONAMBULA ANTIMONY
& GOLD PROJECT
Summary & Geology
• Planned 2 phases of drilling at the project
• Phase 1 targeting Sb mineralisation and
definition of resources ~3,450m
• Phase 2 targeting extension of Au
mineralisation and broarder potential of
Sb ~3,050m
• Phase 1 planed drilling shown in Slide 20 & 21
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ASX: DTM
A SX : DT M D a r t M i n i n g Ag re e m e n t o v e r Ad va n c e d A n t i m o n y G o l d P ro j e c t - A m e n d m e n t (1 2 t h M a rc h 2 0 2 5 ) .
INVESTOR -
20
Phase 1 drilling targeting
Antimony surrounding
known high grade shoot.
Planned drilling shown in
red lines, with expected
intersection in yellow.
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Phase 2 drilling targeting
wider zone of gold
mineralisation surrounding
Antimony mineralisation.
Drilling shown in blue lines,
with expected intersections
in light blue.
ASX: DTM
DART MINING NL
V I C T O R I A N
P R O J E C T S
INVESTOR -
TENEMENT
C O N S O L I DAT I O N
& DIVESTMENT
Summary
23
T E N A M E N T CO N S O L I D AT I O N
• Intention to reduce tenement holding and focus activity across
key projects:
• Rushworth.
• Northern Porphyry’s (Unicorn).
• Buckland.
• Dorchap & Tallandoon/Sandy Creek.
• Granite Flat.
All other tenements and tenement applications will
be relinquished.
T E N A M E N T CO N S O L I D AT I O N
• The company is also open to divestment opportunities across
all projects, in particular:
• Buckland.
• Granite Flat.
• Dorchap.
ASX: DTM
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R U SHWORTH
HISTORIC GOLDFIELD
Summary
24
LO C AT I O N
• Dart Mining tenements cover the entire Rushworth Goldfield,
located in Central Victoria, 45km northeast of the Fosterville
Gold Mine - considered to be the most profitable gold mine, of
significant production, in the world - owned by Agnico Eagle
(NYSE:AEM, TSX:AEM).
STYLE
• Rushworth mineralisation is of an orogenic epizonal quartzvein style that is interpreted to be genetically like the nearby
Central Victorian high-grade gold systems at Ballarat
and Bendigo.
SCALE
• LiDAR survey has revealed >4,600 (shallow) historic workings
along some 14km of strike.
CURRENT DRILLING
• 3,447 meters drilled across the
project to date, averaging a direct
drill cost of <$100 per metre.
• Drilling activity currently operating
at Phoenix Hill, beneath
historic workings.
• Targeting the Anticline and Syncline
positions and searching for repeating
structures at depth.
• Drilling will produce strong
predictive geological model for
continued and improved targeting
and holds potential for identifying
further mineralised structures
at depth.
• The Rushworth Goldfield is vastly under-explored using
contemporary exploration methods.
• Historic mining efforts were defeated by water ingress and most
workings ceased at ~40m.
( A SX : DT M M a r 2 0 24 - DT M G o l d P ro s p e c t i v i t y)
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R U SHWORTH TENEMENT
A P P L I C AT I O N
REGIONAL
• EL8161 application in progress, highest ranked of
competing applications over the area.
• Contains the extension of:
• Rushworth Goldfield,
• Historic Whroo Goldfield,
• Containing the Historic Balaclava Mine, and
• Extension of the Moormbool Fault,
• A major North South structure associated with
Costerfield Mine.
• Region well serviced with infrastructure.
• Area hold significant prospectivity for
Antimony Mineralisation.
( A SX : DT M D e c 2 0 2 3 - R u s h w o r t h
Te n e m e n t a p p l i c a t i o n S u c c e s s f u l )
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BUCKLAND
HISTORIC GOLDFIELD
Summary
26
LO C AT I O N
• Part of 6.9Moz Rutherglen-Beechworth-Harrietville
gold district.
• Primary + Alluvial production.
• Buckland shows extensive shallow primary workings (>100) but
low primary production.
STYLE
• Shear hosted, orogenic gold system.
• Multiple mineralization styles evident.
• Vein-hosted high-grade gold.
• Broad zones of disseminated sulphide hosted gold.
SCALE
• 17.5km strike identified to date from ~7,500 surface samples.
• Multiple parallel structures identified.
RECENT RAB DRILLING HIGHLIGHTS16 FAIRLEYS PROSPECT
• 13m @ 4.82 g/t Au from 12m.
• incl 2m @ 11.6 g/t Au from 20m.
• 11m @ 2.64 g/t Au from 28m.
• Thick mineralisation intersected >180m below surface.
• Mineralisation extends to over 10m width at surface and
down hole.
• incl 3m @ 7.49 g/t Au from 29 m.
• 10m @ 2.27 g/t Au from 4m.
• incl 2m @ 5.52 g/t Au from 7m.
• 2m @ 4.70 g/t Au from 17m and 3m @ 2.62 g/t Au from 26m.
( A SX : DT M M a r 2 0 24 - DT M G o l d P ro s p e c t i v i t y)
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C O N TAC T S
James Chirnside - Executive Chairman
Dart Mining NL (ASX:DTM)
jchirnside@dartmining.com.au
+61 419 605 842
Ben Zervaas - Corporate Advisor
Zerp Capital Pty Ltd
ben@zerpcapital.com
+61 407 211 959
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DISCLAIMER
The information contained in this presentation is for
informational purposes only and does not constitute
an offer to issue, or arrange to issue, securities or
other financial products. The information contained
in this presentation in not investment or financial
product advice and is not intended to be used as
the basis for making investment decisions. The
presentation has been prepared without taking
into account the investment objectives, financial
situation or particular needs of any particular person.
Before making an investment decision, you should
consider, with or without the assistance of a financial
advisor, whether an investment is appropriate in light
of your particular investment needs, objectives and
financial circumstances.
No representation or warranty, express or implied,
is made as to the fairness, accuracy, completeness
or correctness of the information, opinions and
conclusions contained in this presentation. To the
maximum extent permitted by law, none of Dart
Mining NL, their directors, employees or agents, nor
any other person accepts any liability, including,
without limitation, any liability arising out of fault
of negligence, for any loss arising from the use of
the information contained in this presentation. In
particular, no representation or warranty, express or
implied is given as to the accuracy, completeness
or correctness, likelihood of achievement or
reasonableness or any forecasts, prospects or returns
contained in this presentation nor is any obligation
assumed to update such information. Such forecasts,
prospects or returns are by their nature subject to
significant uncertainties and contingencies.
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DART MINING NL
A P P E N D I X
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O P E R AT I O N A L I N I T I AT I V E S
V E G E TAT I O N O F FS E T P R O P E R T Y
• Vegetation offset block established in
2018 for $300,000.
• External Sales made throughout
NE Victoria.
• 303 hectares of densely vegetated high
biodiversity sub-alpine ecology.
• Sales have generated ~$2.3m of sales
contracts since inception.
• Used for in-house offsets of biodiversity
and vegetation disturbances on work
sites throughout Darts exploration
lease areas.
• Payments flow to Dart over a nine-year
management period.
• Annual reporting and liaison to Victorian
Government via DEECA.
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O P E R AT I O N A L I N I T I AT I V E S
I N - H O U S E D R I L L I N G C A PA B I L I T Y
• Two diamond (one subject to acquisition)
drill rigs operated by Dart Mining.
• Drilling throughout the year - unconstrained
by seasonal conditions.
• Rig # 1 Depth to ~220m NQ,
• Flexibility by not having to align with drill
contractor timing and availability.
• Rig # 2 Depth to ~500m HQ, ~ 700m NQ,
~1,000m BQ.
• Direct drilling costs equate to ~$100 per
metre and ~$150 per metre including
logging, sampling, and assays.
• No contractor management time required.
• Rigs cover almost all of Dart’s foreseeable
diamond drilling requirements.
• 30-50m per day per rig penetration rates
depending on ground.
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