Just 60 days after its’ first birthday, Gold explorer Great Divide Mining, GDM, has announced it is now planning to commence its’ first production of Gold this financial year.
“Our strategy has always been to control each step of the gold production process, from exploration through to production. We’ve done it,” said CEO, Justin Haines.
“Our strategy of targeting historical workings has delivered the de-risking, conservation of capital and speed to market as we said it would.”
“We might not become the biggest gold producer, but in a little over a year GDM have proved that we not only Talk-the-Talk, along with every other gold exploring hopeful, but at GDM there’s a difference, at GDM we also Walk-the Walk … and we’ve proven it.”
Today GDM announced the signing of a Binding Agreement with Adelong Gold Ltd (ASX:ADG) to operate its’ Adelong Venture.
The 51% ownership agreement will see GDM expand into a historically significantly mined region which has delivered 800,000 oz of gold and includes a 68km2 exploration permit and 1.5km2 mining permit.
“We will review existing Mine Plans,” said Mr. Haines, “which include upgrading of the existing processing plant to operate as a central processing facility for the region.”
“The processing plant delivers the foundations for a sustainable commercial operation, with a current mine life of 5-years indicated, and that’s before we get in and implement a GDM style in-fill and extension drilling program,” he said.
“Upgrading of the plant will see GDM processing up to 35t/hr with up to 92% gold recovery,” he said.
Existing drilling programs have indicated a total resource of 188,000 oz with grades as high as 5g/t.
“Every brown-field site recommissioned, means we’ve protected another piece of the environment,” said Paul Ryan, GDM’s Chairman.
“Watch this space!” quipped Haines.
Great Divide Mining (ASX:GDM)
GDM listed on the ASX on 25th August 2023. It operates four gold and base metal projects cross 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 risk and ensures 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/
Contact
Justin Haines
CEO
e justin.haines@greatdividemining.com.au
m +61 (0)418 876 420
