Great Divide Mining Ltd (ASX:GDM) has received the final assay results from its maiden 4,100-metre drilling campaign at the Coonambula project’s Banshee Prospect. Conducted in partnership with Dart Mining NL (ASX:DTM), the program successfully traced gold mineralisation across a 730-metre strike length. The final batch of drilling, which included 17 holes, returned notable intercepts, such as 12.0 metres grading 1.03 g/t gold and 1.01 g/t silver from 128 metres.

The data indicates that the mineralised system remains open both at depth and along the strike. While gold mineralisation appears consistent across the project area, management noted that higher-grade silver and antimony concentrations are more localised, typically appearing in discrete, shoot-like zones near the historical mine workings.

"Completion of the first drilling program represents another important milestone in unlocking the value of GDM's Coonambula Project,"

"These final results have confirmed a substantial mineralised system extending over more than 730 metres of strike, while importantly demonstrating that mineralisation remains open along strike and at depth,"

— Justin Haines, CEO

With the initial drilling concluded, Dart Mining has successfully met the requirements to earn a 45% interest in the joint venture. The project now shifts into a critical development phase focused on defining the project’s scale and economic potential. This upcoming workflow includes the commencement of metallurgical sighter studies and the development of three-dimensional geological modelling. These activities are designed to provide the necessary framework for calculating a maiden JORC-compliant Mineral Resource Estimate.

The delivery of this maiden resource estimate will serve as the final trigger for the joint venture structure, allowing Dart Mining to increase its equity stake to 51%. The transition from exploration to resource definition marks a pivotal step for the partners as they work to formalise the technical understanding of the Banshee system. By integrating the metallurgical data and the newly completed drilling results into a coherent geological model, the joint venture aims to establish a reliable baseline for the project's future development trajectory.

Read the full announcement: Coonambula Moves Toward Maiden JORC Resource