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DMC, resurrected a name previously used by principles David Sumich and Bruce Franzen for iron ore exploration in Africa, and more than a decade later they are hoping to generate windfalls by prospecting around Ravensthorpe and the Albany Fraser Orogen.
The company is targeting nickel sulphides, gold, copper, and other base metals across the 878sq.km of the Fraser Range and 10km of the Bandalup ultramafics at Ravensthorpe.
The Ravensthorpe tenements are close to First Quantum Resources' laterite nickel operations, at the southern end of the Ravensthorpe greenstone belt, close to the mothballed RAV8 nickel sulphide mine.
DMC seeks the ultramafics that host nickel at Jerdacuttup as having been subject to limited exploration within its leases.
Efforts over the past 20 years have been being largely limited to geochemistry, flagging a number of anomalous nickel samples grading up to 500 parts per million over a 500m strike, while sampling of historical gold workings returned up to 5.2ppm gold in an "unusual" quartz veining hosted in the ultramafic sequences.
The Fraser Range tenements of magmatic nickel and copper, orogenic and intrusion-related gold, and SEDEX and VMS-style polymetallic deposits similar to the Trilogy lead-zinc-silver-copper-gold deposit, however exploration has been limited due to thick cover.
There are a number of gold anomalies within the Birinup Zone to assess, and the leases over the Recherche Supersuite basement geology are close to IGO's Nova-Bollinger mine and Creasy Group's Silver Knight discovery.
Among the big shareholders in DMC are Perth-based geologist and mining investor Colin Locke at 7.98% and DMC technical director Bill Witham at 6.7%.
The top 20 shareholders own almost 55% of the stock.
DMC made a weak start in early trading, trading 22.5% below its 20c issue price at 15.5c, with 337,000 shares traded.
