Concept:
The Dharwar succession of Karnataka belongs to the Precambrian rocks. Its division is mainly based on geological relationships and age data.
Step 1: Check unconformity.
Unconformity is an important geological break between rock successions and helps divide older and younger units.
\[
A \text{ is correct}
\]
Step 2: Check fossil evidence.
Dharwar rocks are Precambrian, so fossil evidence is not the main basis for division.
\[
B \text{ is incorrect}
\]
Step 3: Check geochronological data.
Geochronological data gives numerical age information and helps distinguish Lower and Upper Dharwar successions.
\[
C \text{ is correct}
\]
Step 4: Check economic minerals.
Economic minerals may occur in these rocks, but they are not the main formal basis for dividing the succession.
\[
D \text{ is incorrect}
\]
Therefore, the correct statements are:
\[
A,C
\]
\[
\therefore \text{Correct Answer is (D)}
\]