Record-Breaking Surface Samples Highlight Significant Resource Potential
Great Divide Mining (ASX: GDM) has announced outstanding surface sampling results from the Coonambula Antimony-Gold Project in Central Queensland, with sample grades that represent the highest recorded to date at the project. The high-grade results significantly enhance the economic potential of the Banshee Mine area and support the company's exploration model.
Surface and in-situ sampling conducted by Farm-In Joint Venture partner Dart Mining NL (ASX: DTM) across the historic Banshee Mine area has revealed exceptionally high grades including:
- Antimony (Sb) up to 65.3%
- Gold (Au) up to 17.0 g/t
- Silver (Ag) up to 97.9 g/t
These results represent the highest gold, silver, and antimony grades reported to date from the Banshee Mine, providing strong validation for GDM's strategic acquisition of the project. The exceptional antimony grades are particularly significant given antimony's classification as a critical mineral.
"The Coonambula Project continues to demonstrate why GDM secured this position early. These grades confirm the potential for a high-value antimony-gold system and further strengthen the case for accelerated drilling across the Banshee trend," said GDM Managing Director Justin Haines.
Strategic Joint Venture Accelerates Development Timeline
Under the Joint Venture Agreement, Dart Mining may earn up to a 51% interest in the Coonambula Project by completing defined drilling and reporting milestones over a two-year period. Dart has already acquired an initial 15% interest after paying $250,000 to GDM and now has obligations to:
- Complete at least 4,000 meters of drilling
- Deliver two geological/resource reports to reach the 51% ownership threshold
This partnership structure allows GDM to maintain a carried interest through early exploration phases while benefiting from Dart Mining's drilling capabilities and operational expertise.
Furthermore, the joint venture has already commenced its initial drilling program using Dart's in-house rig, designed to infill existing high-grade intersections and advance toward a JORC-compliant Antimony-Gold Resource.
Understanding Antimony: A Critical Metal with Strategic Importance
Antimony (Sb) is classified as a critical mineral due to its essential applications across multiple industries and limited global supply sources. While many investors are familiar with gold, antimony remains less understood despite its growing importance.
What is Antimony?
Antimony is a lustrous gray metalloid that is rarely found in its native form. It's typically recovered from the mineral stibnite (Sb₂S₃), which was visibly identified in the Coonambula samples (as shown in Figure 1 of the announcement with massive stibnite returning 55.5% Sb).
Why Antimony Matters to Investors
- Supply Constraints: China dominates global antimony production (approximately 60%), creating supply vulnerability
- Critical Applications: Used in flame retardants, lead-acid batteries, ammunition, and emerging battery technologies
- Price Premium: High-grade antimony concentrates command premium prices in international markets
- Defence Applications: Designated a strategic mineral by many countries including the United States
The combination of high-grade antimony with significant gold values at Great Divide Mining's Coonambula project creates a potentially lucrative dual-commodity opportunity that enhances the project's economic profile.
The Growing Antimony Market
Antimony has become increasingly important as a strategic mineral, particularly as countries seek to secure supply chains for critical resources. In recent months, several Australian explorers have reported significant antimony discoveries, highlighting the growing interest in this metal.
For instance, Tambourah Metals recently announced high-grade antimony findings, while Red Mountain Mining reported impressive antimony discoveries at their Armidale project. Additionally, Warriedar Resources uncovered high-grade antimony at the Ricciardo Gold Deposit, and Lode Resources struck high-grade antimony and silver in Tasmania.
These discoveries across Australia indicate a resurgence in antimony exploration, with Great Divide Mining's Coonambula project standing out due to its exceptionally high grades.
Strategic Location in Established Mining District
The Coonambula Project is strategically positioned approximately 70 km southeast of Evolution Mining's Cracow gold mine and 25 km southwest of Eidsvold. This location within an established mining district provides numerous advantages for future development.
In addition, the regional positioning offers access to existing infrastructure, proximity to processing facilities, a skilled local workforce, and a mining-friendly regulatory environment. These factors significantly reduce the potential capital requirements for future development and shorten the pathway to potential production.
Upcoming Catalysts and Development Pathway
With drilling now underway, investors can expect a series of near-term catalysts as the project advances:
- Initial Drill Results: First assays from the current drilling program
- Resource Definition: Progress toward a maiden JORC-compliant resource
- Exploration Expansion: Testing additional targets across the six-tenement package
- Metallurgical Studies: Determining optimal processing methods for the antimony-gold mineralisation
The combination of high-grade surface samples and strategic joint venture structure positions GDM to rapidly advance the Coonambula Project while minimising shareholder dilution.
Why Investors Should Follow Great Divide Mining
Great Divide Mining presents a compelling investment opportunity for several key reasons:
- Dual Commodity Exposure: Significant exposure to both precious metals (gold, silver) and critical minerals (antimony)
- Exceptional Grades: Surface samples showing grades up to 65.3% antimony and 17.0 g/t gold suggest potential for high-margin operations
- Strategic Partnership: Structuring a joint venture that preserves significant ownership while fast-tracking development
- Portfolio Approach: GDM maintains a diversified portfolio with five projects across 17 tenements, reducing single-project risk
- Experienced Leadership: Management with proven expertise in identifying and developing high-potential mineral assets
As exploration advances and drilling results come in, Great Divide Mining is well-positioned to capitalise on its strategic asset portfolio in the gold and critical minerals space, with Coonambula emerging as a potential flagship project with exceptional grade characteristics.
Conclusion: Timing Matters for Critical Minerals
The exceptional antimony grades at Coonambula come at a time when critical minerals are gaining increased attention from governments and investors worldwide. As countries prioritise supply chain security for these essential materials, projects with high-grade antimony resources like Coonambula will likely attract premium valuations.
Moreover, the project's dual-commodity nature—combining antimony with significant gold and silver values—provides a natural hedge against commodity price fluctuations. This positions Great Divide Mining to potentially benefit regardless of which metal is outperforming at any given time.
With drilling now underway and the possibility of establishing a JORC-compliant resource in the near future, the Coonambula Antimony-Gold Project represents one of the most promising antimony developments in Australia's growing critical minerals sector.
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