Great Divide Mining and Dart Mining report record high-grade gold, silver, and antimony assays from ongoing drilling at the Banshee prospect, advancing the Coonambula project towards a maiden resource estimate.
- Record high assays: 20.20 g/t gold, 234 g/t silver, 44.6% antimony
- 4,000m drilling program underway by Dart Mining at Banshee prospect
- Mineralisation open along strike and at depth, supporting resource growth
- Joint venture progressing towards JORC-compliant maiden Mineral Resource Estimate
- Metallurgical test work and further drilling planned to define processing route
Record High Grades at Banshee
Great Divide Mining Limited (ASX: GDM) and its joint venture partner Dart Mining NL (ASX: DTM) have delivered a significant boost to the Coonambula Antimony-Gold Project in Central Queensland. Recent drilling results from the historic Banshee Antimony Mine have returned record high grades of gold, silver, and antimony, confirming the prospect’s emerging status as a polymetallic system of commercial interest.
Highlights include an exceptional 0.2 metres at 20.20 grams per tonne (g/t) gold, 0.6 metres at 234 g/t silver, and 0.6 metres at 44.6% antimony from diamond drilling hole CBADD010. These results surpass previous records at Banshee and underscore the quality of mineralisation present.
Drilling Program and Joint Venture Progress
Dart Mining is managing a 4,000-metre diamond drilling program as part of its farm-in agreement with Great Divide Mining, aiming to earn up to a 51% interest in the project. To date, 2,594 metres have been completed, with assays received for several holes confirming broad zones of continuous mineralisation. The mineralised corridor now extends over 320 metres along strike and remains open both laterally and at depth.
Chief Executive Officer of Great Divide Mining, Justin Haines, emphasised the geological potential: "The continued excellent results underscore the emerging scale and quality of the Banshee system. These record high grades confirm Coonambula’s capacity to host a commercially significant antimony-gold system." Dart Mining’s Managing Director, James Chirnside, echoed this optimism, highlighting the resilience of mineralisation near surface and the confidence growing in the continuity of the deposit.
Towards a Maiden Mineral Resource Estimate
The JV partners are advancing towards a JORC-compliant maiden Mineral Resource Estimate (MRE), a key milestone for the project’s development. The drilling results provide a solid foundation for this, with ongoing metallurgical test work planned to better understand recovery factors and processing options. While the precise processing route remains to be defined, the polymetallic nature of the deposit; with significant gold, silver, and antimony; offers multiple avenues for economic extraction.
Historical mining at Banshee focused on direct shipping ore of antimony, but the current exploration is revealing a more complex and valuable system. Notably, a void intersected during recent drilling beneath the historic mine workings presents both a challenge and an opportunity for resource modeling and mine planning.
Strategic Location and Future Exploration
The Coonambula project is strategically located near Evolution Mining’s Cracow gold mine and the Eidsvold goldfield, within a region known for high-grade gold and antimony deposits. The JV is also exploring adjacent prospects such as Lady Mary, with further geophysical surveys and drilling planned to expand the known mineralisation footprint.
With the farm-in agreement progressing well, Dart Mining and Great Divide Mining are poised to unlock further value from this historically significant mining district. The combination of high-grade assay results, ongoing drilling, and planned metallurgical studies positions the Coonambula project as a compelling opportunity in the Australian gold and critical metals sector.
Bottom Line?
As drilling continues and metallurgical insights emerge, the Coonambula project’s true scale and economic potential will come into sharper focus.
Questions in the middle?
- How will metallurgical test results influence the processing strategy for the polymetallic mineralisation?
- What is the timeline for completing the maiden Mineral Resource Estimate and how might it impact JV ownership stakes?
- How will the historical mining voids beneath Banshee affect resource modeling and future mine planning?