Great Divide and Dart Mining Uncover Record Gold Grades at Banshee Mine
Great Divide Mining and Dart Mining have reported the highest gold grades ever recorded at the Banshee Antimony Mine within the Coonambula Project, highlighting a promising mineralised system in Central Queensland.
- Record gold grades from recent drilling at Banshee Antimony Mine
- Significant gold and antimony intersections in drill hole CBADD002
- Ongoing drilling program aims for JORC-compliant resource
- Strategic location near established gold mines in Queensland
- Farm-in joint venture structure advancing exploration milestones
Record-Breaking Drilling Results
Great Divide Mining Ltd (ASX, GDM) and its joint venture partner Dart Mining NL (ASX, DTM) have announced exceptional new drilling results from the historic Banshee Antimony Mine, part of the Coonambula Antimony-Gold Project in Central Queensland. The highlight is drill hole CBADD002, which returned the highest gold assay ever recorded at the site, 0.5 metres grading 18.3 grams per tonne gold, alongside notable antimony mineralisation.
A Large and Complex Mineralised System
The results confirm a broader mineralised system where gold and antimony coexist within quartz veins and breccia zones, often associated with sericite alteration and stibnite mineralisation. Dart Mining’s Managing Director James Chirnside emphasised that the mineralisation controls are becoming clearer and consistent, with the recent assays extending mineralisation over 200 metres from the historic Banshee Pit. This suggests the potential for a significant gold-rich system at depth.
Joint Venture Progress and Strategic Location
Under the farm-in joint venture, Dart Mining has earned an initial 15% interest in the project and aims to increase this to 51% by completing drilling and reporting milestones over two years. The Coonambula Project is strategically located approximately 70 kilometres southeast of Evolution Mining’s Cracow gold mine and 25 kilometres southwest of Eidsvold, both established gold mining regions. This proximity adds to the project’s appeal and potential for rapid development.
Next Steps and Exploration Outlook
The drilling program is ongoing, with more assay results expected in early 2026. Dart Mining and Great Divide plan to complete an induced polarization (IP) geophysical survey, refine drilling targets, and develop a 3D geological model to support a JORC-compliant resource estimate. The companies are focused on expanding the known mineralisation and testing for shallow gold zones that could enhance project economics.
Historical Context and Exploration Potential
Banshee is one of Central Queensland’s largest historic antimony mining complexes, with mining activity dating back to the late 19th century. Previous drilling and surface sampling have indicated high-grade antimony and gold mineralisation, but the recent results represent a new benchmark for gold grades at the site. Nearby prospects such as Lady Mary and Perseverance also offer exploration upside along a prospective 5-kilometre strike of antimony-gold mineralisation.
Bottom Line?
With record gold grades now confirmed, the Coonambula Project is poised for a critical phase of resource definition that could reshape its value proposition.
Questions in the middle?
- Will upcoming assay results confirm continuity and true widths of the high-grade gold zones?
- How quickly can the JV partners advance towards a JORC-compliant resource and potential development?
- What are the implications of the antimony-gold association for future mining and processing strategies?
