Great Divide Mining Strikes High-Grade Antimony Gold at Coonambula Project
Great Divide Mining Limited (ASX: GDM) has delivered exceptional drilling results from its joint venture with Dart Mining at the Coonambula Antimony-Gold Project in Central Queensland. The first drill hole returned some of the highest antimony grades ever recorded at the project, validating GDM's strategic positioning in this historically significant mining district.
Furthermore, these results demonstrate the potential for a major antimony-gold discovery. The inaugural drill programme has exceeded expectations, positioning the project as one of Australia's most promising critical minerals developments.
Outstanding First Drill Results Confirm High-Grade Potential
The inaugural drill hole CBADD001 has delivered spectacular results that exceed expectations. The standout intersections showcase the exceptional grade potential of this critical minerals project.
Key intersections include:
• 5.0m @ 4.33% Sb + 1.69 g/t Au + 23.65 g/t Ag from 41.5m
• 32.20% Sb + 2.91 g/t Au + 10.50 g/t Ag over 0.65m from 42.0m
• 1.6m @ 9.47% Sb + 0.35 g/t Au + 4.09 g/t Ag from 68.2m
The drill programme has achieved record-breaking antimony grades of 32.2% Sb and 29.6% Sb. Additionally, it recorded the highest silver result of 154.0 g/t Ag in the Great Divide Mining Coonambula Project's drilling history.
These results significantly surpass the historical high-grade intersections previously recorded at the Banshee prospect. Consequently, they establish a new benchmark for mineralisation quality at the project.
Key Drill Intersections from CBADD001
| From (m) | Width (m) | Sb % | Au g/t | Ag g/t | Notes |
|---|---|---|---|---|---|
| 41.50 | 5.00 | 4.33 | 1.69 | 23.65 | Main mineralised zone |
| 42.00 | 0.65 | 32.20 | 2.91 | 10.50 | Massive stibnite |
| 42.65 | 0.50 | 0.66 | 2.53 | 1.06 | Gold-rich zone |
| 45.40 | 0.70 | 0.17 | 5.61 | 154.00 | Silver-rich zone |
| 68.70 | 0.50 | 29.60 | 0.65 | 12.60 | Second stibnite zone |
"The Coonambula Project and GDM's joint venture with Dart Mining continues to demonstrate why GDM secured this position. These drilling results confirm the potential for a high-value antimony-gold system at the historic Banshee Mine and further strengthen the case for accelerated drilling across the Banshee trend." – Justin Haines, Managing Director
Understanding Antimony: A Critical Strategic Metal
Antimony is classified as a critical mineral due to its essential role in modern technology and limited global supply sources. The metal is crucial for flame retardants, batteries, semiconductors, and military applications.
With over 80% of global antimony production controlled by China, securing domestic antimony resources has become a strategic priority for Western nations. This supply concentration creates significant geopolitical risks for Western manufacturers and defence contractors.
The significance of antimony extends beyond its rarity. The metal is increasingly vital for renewable energy storage systems and defence applications. Moreover, projects like the Great Divide Mining Coonambula Project represent valuable opportunities to establish alternative supply chains outside of Chinese control.
Why This Matters for Investors
Antimony prices have shown significant volatility due to supply constraints, with potential for substantial upside. Demand from clean energy and defence sectors continues growing, creating investment opportunities.
High-grade antimony deposits with established mining history, like Coonambula, offer lower-risk pathways to production. Furthermore, they provide exposure to critical minerals supply chain diversification themes.
Strategic Joint Venture Structure Accelerates Development
The partnership between GDM and Dart Mining creates an optimal development framework. Dart manages the joint venture during the earn-in phase whilst GDM retains tenement ownership and a carried interest through early exploration.
Joint Venture Terms
| Parameter | Details |
|---|---|
| Initial Interest | Dart acquired 15% for $250,000 |
| Earn-in Target | Up to 51% through defined milestones |
| Drilling Commitment | Minimum 4,000m over two years |
| Reporting Requirements | Two geological/resource reports |
| Management | Dart appointed as JV Manager |
Dart Mining brings significant in-house drilling capabilities and has already completed 458m across 6 holes. Additionally, 2,000m of diamond core is planned for the initial programme.
This aggressive drilling schedule positions the joint venture to rapidly advance toward a JORC-compliant resource estimate. In addition, the shared risk structure allows both companies to benefit from discovery upside.
How Does Coonambula Compare to Other Antimony Projects Globally?
The project benefits from world-class positioning within Queensland's established mining corridor. It is located 70km southeast of Evolution Mining's multi-million-ounce Cracow gold mine and 25km southwest of Eidsvold.
This proximity to proven mining operations provides critical infrastructure access. Furthermore, it demonstrates the geological prospectivity of the broader region, enhancing the project's development potential.
Project Scale and Coverage
The Great Divide Mining Coonambula Project encompasses significant scale and coverage:
• Six exploration permits covering 282 sq.km of highly prospective terrain
• 5km strike length of antimony-gold-silver mineralisation
• Multiple historic mines including Banshee, Lady Mary, and Perseverance
• Direct road access approximately 390km from Brisbane
The Banshee Mine historically operated between 1876 and 1983, producing high-grade direct shipping ore. When reopened in 1983, the mine produced 20 tonnes of ore containing 4 tonnes of antimony.
This historical production demonstrates the economic grade potential of the mineralisation. Moreover, it provides valuable metallurgical and processing insights for future development planning.
What Makes This a Compelling Investment Opportunity?
Great Divide Mining has secured a strategic position in one of Australia's most significant historic antimony districts. The timing coincides with growing global focus on critical minerals investment and supply chain security.
The combination of exceptional drill results, established mining history, and strategic joint venture structure creates multiple catalysts for value creation. However, investors should consider both opportunities and risks when evaluating the investment thesis.
Investment Highlights
| Factor | Advantage |
|---|---|
| Grade Quality | Record 32.2% Sb grades exceed global averages |
| Historical Production | Proven economic mineralisation from 1876-1983 |
| Strategic Location | 70km from major Cracow gold mine |
| Joint Venture Benefits | Shared risk with experienced drilling partner |
| Critical Minerals Exposure | Antimony classified as strategic resource |
The project's geological similarities to successful Sb-Au deposits like Hillgrove in NSW suggest potential for a substantial resource base. Early-stage drilling has consistently intersected massive stibnite veining.
This indicates robust mineralisation continuity across the prospect. Consequently, the geological framework supports potential for resource expansion through systematic exploration.
Resource Development Pathway
With Dart Mining targeting a JORC-compliant resource estimate, investors can expect systematic value creation. Progressive drilling campaigns and resource upgrades are planned throughout 2025.
The development pathway includes expansion drilling across the 5km strike length and potential discovery of extensions between historic mines. Furthermore, metallurgical testwork will support feasibility studies and production planning.
Why Should Investors Track Great Divide Mining?
The Great Divide Mining Coonambula Project results represent a significant milestone for GDM's transformation. The company is evolving into a critical minerals focused developer with exceptional antimony grades.
Combined with meaningful gold and silver credits, the project positions among Australia's highest-grade antimony prospects. Additionally, the strategic location and infrastructure access enhance development potential.
Near-term Catalysts
Investors should monitor several key catalysts approaching in the near term:
• Additional drill results expected monthly through Q1 2025
• JORC resource estimate targeted for H1 2025
• Expansion drilling across 5km strike length
• Potential discovery of extensions between historic mines
Strategic Value Drivers
The investment case is supported by multiple strategic value drivers:
• Exposure to critical minerals supply chain diversification
• Established mining history reduces geological risk
• Joint venture structure provides funded exploration pathway
• Premium location within proven mining district
Great Divide Mining has positioned itself as a premier antimony-gold developer in Australia, with exceptional drill results validating the world-class potential of the Coonambula Project. With aggressive drilling campaigns planned and multiple value catalysts approaching, investors should monitor GDM closely as the company advances toward resource definition and potential production scenarios.
The convergence of record-breaking drill results, strategic critical minerals exposure, and systematic development approach creates a compelling opportunity. Investors seeking exposure to the antimony supply chain diversification theme whilst maintaining upside potential from gold and silver credits should consider the Great Divide Mining Coonambula Project carefully.
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