In releasing its Quarterly Report, Great Divide Mining Ltd (ASX:GDM) advised progress across its portfolio of projects.
CEO, Justin Haines reported most significant progress at the company’s Adelong mine site. “The farm-in to the Adelong venture enables GDM to transition from a pure explorer into a gold producer marking a significant milestone in the company’s development pathway.”
Work at the mine site continues apace, following successful completion of due diligence.
“It’s all here,” said Haines ,”it just needs to be brought back to life.”
“Adelong operates a policy of preferentially employing locally and working with local businesses and contractors,” said Haines, “We’re not just breathing new life into the mine site, we’re breathing new life into the entire Adelong community.”
“I’ve worked at this mine site for years now,” said Karen Mason, Site Supervisor.
“I’ve seen more activity here in just 4 weeks than in the past 4 years !” she quipped.
Other of GDM’s projects have also delivered significant advances for shareholders.
Exploration activities at the Coonambula have indicated gold grades up to 9.93 gm /tonne of Gold, together with high grades of Antimony.
Negotiations continue with Great Eastern Mining for toll processing of ore from the Yellow Jack project at their Big Rush gold mine site.
At the Devil’s Mountain project LiDAR studies have revealed over 204 historical workings including 12 mine entrances and 7 shafts.
“Every old mine site we recommission is another piece of the environment we’ve protected,” said Chairman Paul Ryan, “ but what’s got us all most excited is how close we are to our first gold pour at the Adelong site.”
Great Divide Mining (ASX:GDM)
GDM listed on the ASX on 25th August 2023. It operates four gold and base metal projects across 12 granted Queensland tenements. It’s commercial model focusses on historically significant workings, leveraging brownfield permitting opportunities, utilising details of these workings, targeted in-fill drilling programs and the application of modern exploration and mining technologies. Recommissioning of previously mined sites delivers significant reduction in exploration cost and risk whilst ensuring the company minimises its environmental impacts.
Its core values are to responsibly transition exploration projects to positive cash flow in efficient time frames.
https://greatdividemining.com.au/
Adelong Gold Ltd (ASX:ADG)
GDM announced on 11 November 2024 that it had signed a binding farm-in agreement with Adelong Gold Ltd (ASX:ADG) and its wholly owned subsidiary Challenger Mines Pty Ltd (CMPL) to recommence the operations of the historic Adelong Gold Mine.
GDM will now complete the 90-day Due Diligence on the CMPL assets, and if successful, move to acquire a 15% holding in CMPL and become operator of CMPL. GDM’s focus will be on rapidly moving the Adelong Gold Mine back onto a production footing
Contact
Justin Haines
CEO
e justin.haines@greatdividemining.com.au
m +61 (0)418 876 420
