GDM Confirms 169,700 oz Gold Resource at Adelong
Key Takeaways
- Great Divide Mining has restated a JORC 2012 Mineral Resource for the Adelong Gold Project totalling 1.55 million tonnes at 3.41 g/t gold for 169,700 oz of contained gold across four deposits.
- 55% of contained gold — approximately 92,500 oz — is classified at the higher-confidence Measured or Indicated categories, providing a more reliable foundation for future feasibility and development decisions.
- The Challenger deposit is the largest at 80,300 oz, while Donkey Hill carries the highest grade at 5.03 g/t Au for 16,600 oz.
- The Adelong Goldfield has a historical production pedigree of approximately 380,000 oz, with the same style of mineralisation underpinning GDM's current resource.
- GDM's stated near-term priorities are resource verification, exploration planning, and assessing opportunities to grow or upgrade confidence in the existing Mineral Resource.
GDM confirms 169,700 oz high-grade gold resource at Adelong
Great Divide Mining (ASX: GDM) has formally restated a JORC 2012 Mineral Resource for its Adelong Gold Project in southern New South Wales, establishing a public resource baseline totalling 1.55 million tonnes at 3.41 g/t gold for 169,700 oz of contained gold. The estimates were previously prepared by independent geological consultant GeoRes for former owners of the project in 2021 and 2022, and the restatement — conducted to satisfy ASX requirements — allows GDM to publicly discuss the resource. Challenger Gold Mines Pty Ltd, the entity holding the Adelong project tenements, became a wholly owned subsidiary of GDM in February 2026.
The 1.0 g/t Au cut-off applies to all figures reported in this announcement, and all totals are subject to minor rounding differences between aggregated tables.
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A closer look at the numbers
The consolidated resource carries a strong confidence profile, with approximately 92,500 oz, or 55% of contained gold, classified as Measured or Indicated. The tables below set out the full breakdown by classification and by deposit.
| Classification | Tonnes (kt) | Grade (g/t Au) | Contained Au (oz) |
|---|---|---|---|
| Measured | 357 | 4.17 | 47,900 |
| Indicated | 416 | 3.33 | 44,600 |
| Measured + Indicated | 773 | 3.72 | 92,500 |
| Inferred | 777 | 3.09 | 77,200 |
| Total | 1,550 | 3.41 | 169,700 |
| Deposit | Tonnes (kt) | Grade (g/t Au) | Contained Au (oz) |
|---|---|---|---|
| Challenger | 663 | 3.77 | 80,300 |
| Currajong | 533 | 2.62 | 44,800 |
| Caledonian | 250 | 3.48 | 28,000 |
| Donkey Hill | 103 | 5.03 | 16,600 |
| Total | 1,549 | 3.41 | 169,700 |
Minor differences between the aggregated totals in both tables reflect rounding, as flagged in the source announcement. Three figures stand out at the deposit level:
- Challenger is the largest deposit at 80,300 oz
- Donkey Hill contains 16,600 oz at a grade of 5.03 g/t Au
- 55% of contained gold sits in Measured or Indicated categories
What is a JORC Mineral Resource — and why does this matter?
JORC 2012 is Australia’s standard code for reporting mineral resources. JORC stands for the Joint Ore Reserves Committee, and its 2012 edition sets out the rules that govern how ASX-listed companies must estimate and disclose mineral resources before they can discuss them publicly. Without a JORC-compliant restatement, GDM could not reference the Adelong resource in investor communications.
Within JORC, resources are classified into three confidence levels. Inferred is the lowest level, where geological knowledge is sufficient to estimate a resource but data is relatively sparse. Indicated reflects greater confidence, based on closer-spaced data that demonstrates reasonable continuity of mineralisation. Measured is the highest category, supported by detailed and reliable data.
For GDM, the fact that 55% of contained gold already sits in the Measured or Indicated categories is a meaningful signal. Higher-confidence classifications provide a more reliable foundation for feasibility studies and future development decisions than an entirely Inferred resource would.
One important distinction to note: these are Mineral Resources, not Ore Reserves. A Mineral Resource identifies material with reasonable prospects for eventual economic extraction, but as the announcement explicitly states, there is no certainty that all or any part of the Mineral Resources will be economically extracted.
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Historic goldfield with a modern foundation
The Adelong Goldfield has a long production history, having yielded approximately 380,000 oz of gold from underground mining, principally around the turn of the twentieth century. The style of mineralisation targeted then is the same style that underpins GDM’s current resource: narrow, sub-vertical, north-south striking quartz-vein systems hosted in granodiorite. The approximately 1.4 km-long Old Hill Line alone accounted for around 130,000 oz of that historical production.
GDM’s Chief Executive Officer Justin Haines commented on what the restated resource means for the company’s path forward:
Justin Haines, Chief Executive Officer
“…The combined resource of approximately 170,000 oz at 3.41 g/t gold provides GDM with a strong foundation for the next phase of work at Adelong. The resource is distributed across several deposits within a historically productive goldfield, providing multiple opportunities for disciplined technical review and exploration.
GDM will use this consolidated resource position to prioritise verification work and assess opportunities to enhance confidence in, and potentially grow, the existing Mineral Resource.”
Based on the announcement, GDM’s stated near-term priorities are:
- Resource verification work
- Exploration planning
- Assessment of opportunities to grow or upgrade confidence in the existing resource
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