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Great Divide Mining Ltd ( (AU:GDM) ) has provided an update.
Great Divide Mining reported that an induced polarisation survey at the Banshee Prospect within its Coonambula antimony-gold project has outlined more than one kilometre of strike continuity, suggesting the mineralised structure extends toward the historic Lady Mary antimony workings. The survey, supported by Queensland government co-funding, also revealed new off-trend chargeability anomalies to the north that coincide with gold-antimony soil anomalies, creating fresh high-priority drill targets to be integrated into Dart Mining’s ongoing 4,000 metre drilling campaign.
Under the joint venture terms, Dart Mining can earn up to a 51% interest in the six Coonambula tenements by meeting drilling and reporting milestones over two years, while Great Divide retains ownership and a carried interest during the exploration phase. The positive geophysical results strengthen the case for Coonambula as an under-explored, district-scale antimony-gold system and could enhance Great Divide’s strategic position in the region if subsequent drilling confirms significant mineralisation.
More about Great Divide Mining Ltd
Great Divide Mining Ltd is an Australian exploration company focused on antimony and gold assets, notably through its Coonambula Project in Queensland. The company operates via joint ventures, retaining tenement ownership while partners such as Dart Mining fund and manage early-stage, district-scale exploration programs.
Average Trading Volume: 83,832
Technical Sentiment Signal: Buy
Current Market Cap: A$28.2M
For detailed information about GDM stock, go to TipRanks’ Stock Analysis page.