What's Happening?
Great Divide Mining Ltd has announced significant surface sampling results from the Coonambula Antimony-Gold Project, conducted by its joint venture partner Dart Mining NL. The samples from the historic Banshee Mine area revealed high grades of antimony, gold, and silver, enhancing confidence in the project's potential. Dart Mining has begun drilling to advance towards a JORC-compliant resource, with the potential to earn a 51% interest in the project by meeting specific milestones. This development strengthens GDM's exploration model and positions the company for accelerated drilling and potential resource expansion.
Why It's Important?
The discovery of high-grade antimony and gold at the Coonambula Project is crucial for Great Divide Mining as it enhances the project's viability and potential profitability. Antimony is a critical metal used in flame retardants and batteries, while gold remains a valuable commodity. The findings could attract investment and expedite the project's development, contributing to the company's growth and the broader mining sector's expansion. The joint venture with Dart Mining also highlights collaborative efforts in resource exploration.
What's Next?
Great Divide Mining and Dart Mining will continue drilling to establish a JORC-compliant resource, aiming to expand the project's scope and secure further investment. The companies will focus on meeting exploration milestones to increase their stake in the project. As drilling progresses, stakeholders will monitor the project's development, potentially influencing investment decisions and strategic partnerships in the mining industry.
