Great Divide Mining announced today that it has been awarded a prestigious Collaborative Exploration Initiative Grant from the Queensland Government, of over $180,000 to fast-track the Banshee Antimony-Gold target at its’ Coonambula Project in SE Queensland.
The grant was awarded under round 9 of this competitive program, designed to encourage the discovery of new critical minerals deposits in Queensland.
It totals $181,577 comprising $165,000 + GST.
“I’m extremely proud of the GDM Team.” said Justin Haines, “This grant is recognition of the quality of the Coonambula project and of the Banshee target.”
“Further, this grant is recognition for Great Divide Mining and for the GDM Team.” said Haines. “This is a Team that has built a successful exploration, and now processing company, in less than two years from listing on the ASX in August of 2023.”
“I mean look at GDM’s share price, “ he said, “ since listing, GDM’s share price has never been under water.”
The Banshee mine, which produces Antimony and Gold, lies within the historical Hungry Hill mine workings and was first mined in 1876, then in 1907, 1928, 1953 and 1955. The most recent production was in 1983, when 20 tons of ore was mined containing 4 tons of high-grade Antimony sulphide.
“We’ve already got a 4000-metre drilling program in place with our partners at the site, Dart Mining,” continues Haines, ”GDM will use the grant funds to run an Induced Polarisation survey of the site with the aim of further confirming and potentially expanding the resource.”
Asked about progress at GDM’s Challenger Mine site, Haines commented, “We’ve been running the crushing circuits and processing plant for a couple of weeks now, working to optimise process flow, cleaning up some of tailings and ore already at surface.
Pressed about first Gold pours, Haines smiles and says “Soon. Really soon.”
“I just can’t wait for our first gold pour at Challenger,” he says, “GDM will then have achieved its’ goal of being a balanced explorer and producer … in under 2 years.”
ENDS
For further information:
Justin Haines, CEO
e justin.haines@greatdividemining.com.au
m +61 (0)418 876 420
Great Divide Mining Ltd (ASX: GDM)
Great Divide Mining is an Australian Gold, Antimony and critical metals miner, explorer and developer with five projects across 17 tenements (including two in application). GDM’s focus is on operating producing assets within areas of historical mining and past exploration with nearby infrastructure, thus enabling rapid development. Through a staged exploration and development programme, GDM intends to generate cash flow from its initial projects to support further exploration across its portfolio of highly prospective tenements.
https://greatdividemining.com.au/
