Great Divide Mining Ltd Shallow Gold Discovery Delivers High-Grade Results

Coonambula Drilling Delivers High-Grade Gold Discovery at Shallow Depths

Great Divide Mining (ASX:GDM) continues to showcase the impressive potential of its Coonambula Antimony-Gold Joint Venture project in Queensland, with recent drilling results confirming broad, shallow gold mineralisation at the Banshee Prospect. The latest assay results from partner Dart Mining's diamond drilling programme have revealed 4.9m @ 5.27 g/t Au from just 21.0m depth, including an exceptional 1.0m @ 14.6 g/t Au intercept.

These results represent a significant milestone for the joint venture, with 3,586m of diamond drilling now completed and all 2025 drilling results received. The systematic approach is paying dividends, with broad gold zones being identified at shallow depths across multiple drill holes, suggesting the historical antimony-focused drilling may have under-represented the true scale of the mineralised system.

Outstanding Drilling Results Confirm Mineralisation Continuity

The latest batch of assay results from drill holes CBADD011 to CBADD013 has delivered compelling evidence of consistent gold mineralisation along strike and at depth. The standout performer, CBADD013, intercepted multiple high-grade zones within a broader mineralised envelope.

Furthermore, the drilling programme has systematically demonstrated that gold mineralisation extends well beyond the historically mined antimony zones. Importantly, these broader gold zones contain relatively low associated antimony and silver, suggesting potential variability in mineralisation style across the system.

Key Intercepts from Recent Drilling

CEO Justin Haines commented: "These results continue to build confidence in the scale and continuity of gold mineralisation at Coonambula in addition to the previously announced antimony mineralisation. The identification of broader gold zones at shallow depth is particularly encouraging, especially where historical antimony-focused drilling may have under-represented the system."

The shallow gold discovery by Great Divide Mining Ltd through the Coonambula Joint Venture represents a significant development in understanding the broader mineralised system beyond the historically recognised antimony zones.

Understanding Intrusion-Related Gold Systems

Intrusion-Related Gold Systems (IRGS) represent a specific class of gold deposits associated with granitic intrusions, characterised by their large size potential and economic grades. At Coonambula, the mineralisation is hosted within the Carboniferous to Permian-Triassic granite rocks of the Rawbelle Batholith.

IRGS deposits often exhibit several attractive characteristics for investors. These include large tonnage potential with moderate to high grades, shallow to moderate depths accessible by open-pit mining, multiple mineralisation styles within a single system, and strong structural controls creating predictable ore shoots.

The Coonambula system demonstrates classic IRGS characteristics, with gold mineralisation associated with east-west trending fracture zones and alteration patterns rather than always visually obvious sulphide mineralisation. This geological understanding is crucial for targeting future drilling and resource definition.

Consequently, the shallow gold discovery by Great Divide Mining Ltd fits within this IRGS model, with mineralisation occurring in predictable structural positions that can guide future exploration efforts.

Strategic Project Development Progressing

The Coonambula Joint Venture represents a well-structured earn-in arrangement where Dart Mining is systematically advancing the project towards resource definition. The programme has now achieved several critical milestones in its development trajectory.

In addition, the systematic approach using diamond drilling has proven superior to historical reverse circulation methods, providing improved geological resolution and better structural understanding. This methodological advantage positions the joint venture to more accurately define the mineralised system's true potential.

Drilling Programme Progress

• Total drilling completed: 3,586m of diamond core
• All 2025 drilling: Assay results now received
• Geological logging: Completed to 3,072.9m
• Target completion: Targeting ~4,000m total programme

What Are the Upcoming Value Catalysts?

Several key milestones are expected to drive continued investor interest in the coming months. Continued diamond drilling targeting remaining programme metres will provide additional mineralisation data. Moreover, metallurgical test work submission of composite samples will advance understanding of processing characteristics.

3D geological modelling and interpretation advancement will help define ore shoot geometries and target future drilling. Additionally, preparation for a maiden JORC Resource Estimate represents a significant value inflection point for the project.

Historical Context Validates Current Strategy

The Banshee Prospect represents one of Central Queensland's largest historical antimony mining complexes, with production records dating from 1876 to 1983. When the mine reopened in 1983, it produced 20 tonnes of ore containing 4 tonnes of antimony, demonstrating the high-grade nature of the system.

Previous exploration highlights include multiple high-grade intercepts that validate the current drilling approach. These results included 3m @ 9.18% Sb from historical drilling (including 1m @ 25% Sb), 6m @ 5.12% Sb & 1.55 g/t Au from 77m depth, and rock chip samples up to 44.9% Sb with multiple samples above 20% Sb.

Geological Setting Advantages

The project's position within the northern New England Orogen places it in a well-established metallogenic province known for hosting significant gold and antimony deposits. This includes the Hillgrove Sb-Au deposit in New South Wales, which demonstrates the economic potential of similar systems.

However, the shallow gold discovery by Great Divide Mining Ltd validates the company's strategic focus on this proven geological terrain, where similar systems have demonstrated economic viability over many decades.

Investment Thesis: Multi-Commodity Upside in Proven Geology

Great Divide Mining's strategic position in the Coonambula Joint Venture offers investors exposure to a potentially significant antimony-gold discovery in an established mining region. The recent drilling results strengthen several key investment themes that warrant careful consideration.

Resource Scale Potential

The identification of broad, shallow gold zones suggests the mineralised system may be significantly larger than historical antimony-focused exploration indicated. With 4.9m @ 5.27 g/t Au representing just one intercept from systematic drilling, the resource potential appears substantial and worthy of continued exploration investment.

Strategic Commodity Exposure

The project provides exposure to multiple valuable commodities with different market dynamics. Gold represents a universal store of value with strong demand fundamentals and established global markets. Antimony, meanwhile, is a critical mineral with supply security concerns and important defence applications.

Furthermore, the dual commodity potential provides price diversification and enhanced economics compared to single-commodity projects. This diversification can help mitigate commodity price volatility and provide multiple revenue streams.

Development Advantages

Several factors favour the economic development of the Coonambula system. Shallow mineralisation reduces development costs and complexity compared to deep underground operations. The established infrastructure benefits from regional mining history and available support services.

Additionally, the clear development pathway provides systematic progression towards resource definition and eventual production decisions. This systematic approach reduces technical risk and provides predictable value catalysts.

Exploration Upside

With multiple prospects across a 5km strike length and limited historical drilling, the project offers significant blue-sky potential beyond the current drilling focus at Banshee. This exploration upside provides additional value creation opportunities for patient investors.

Why Should Investors Follow Great Divide Mining?

The Coonambula Joint Venture represents a compelling combination of established mineralisation, systematic development approach, and substantial exploration upside. Recent drilling results have validated the geological model while expanding the understanding of the system's economic potential.

Several factors make this project particularly trackable for investors. Near-term catalysts include ongoing drilling results and metallurgical test work outcomes that will be announced regularly. Resource definition provides a clear pathway to maiden JORC resource estimate, representing a major value inflection point.

Moreover, the strategic location in a proven metallogenic province with infrastructure access reduces development risk. Dual commodity exposure to gold and antimony provides diversified revenue potential that can enhance project economics.

The systematic approach using diamond drilling methodology is delivering superior geological understanding compared to historical programmes. This methodical approach to value creation distinguishes Great Divide Mining from more speculative exploration plays.

What Makes This Discovery Significant?

The project's progression from exploration through systematic drilling towards resource definition provides multiple value inflection points over the coming months. With drilling targeting 4,000m total and geological modelling advancing, investors can expect regular updates on this developing story.

The shallow gold discovery by Great Divide Mining Ltd through systematic diamond drilling demonstrates the company's methodical approach to unlocking value in proven geological terrains. This discovery expands the understanding of the Coonambula system beyond its historical antimony focus and validates the broader exploration strategy.

Consequently, Great Divide Mining has positioned itself as a key player in Queensland's antimony-gold sector, with systematic drilling at Coonambula revealing substantial mineralisation potential at shallow depths. With ongoing drilling and resource definition work progressing, the company warrants close attention as it advances towards potentially defining a significant dual-commodity resource.

The combination of high-grade intercepts, shallow mineralisation, and systematic development approach positions Great Divide Mining as a compelling story in the junior resources sector. Multiple upcoming catalysts are expected to drive continued investor interest as the project advances through its development milestones.

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