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Highlights
Great Divide Mining (ASX:GDM) finalised a farm-in JV with Dart Mining (ASX:DTM) for the Coonambula Project in Queensland.
Dart Mining will conduct drilling and geological reporting to earn majority interest and oversee project operations.
The agreement supports Great Divide’s progression from exploration to production-focused activities.
Great Divide Mining (ASX:GDM), listed on the ASX 200, has entered into a definitive farm-in and joint venture agreement with Dart Mining (ASX:DTM), a All Ordinaries constituent. The agreement centres around the Coonambula Project located in Queensland, including the historical Banshee Antimony Mine.
This partnership positions Dart Mining to progressively earn a significant ownership stake in the project through exploration and technical development. The initial stage of the transaction involves Dart acquiring an initial minority interest, while the full joint venture terms allow Dart to increase this stake by executing an extensive drilling program and producing detailed geological and resource assessments.
Project Terms and Exploration Commitments
Under the agreement terms, Dart Mining assumes the role of project manager. This includes responsibility for operational execution and resource planning within the Coonambula Project area. A drilling requirement spanning several thousand metres has been outlined, along with the preparation of two geological and resource reports over a defined time frame.
These activities form part of the requirement for Dart to increase its ownership interest. Both companies view this approach as a structured path for advancing exploration outcomes and potentially defining compliant mineral resources within the Banshee prospect area.
Strategic Shift for Great Divide Mining
With this agreement, Great Divide Mining strengthens its transition from a pure exploration entity toward a model that integrates project development and resource monetisation. The company highlighted this strategic shift as aligned with its long-term growth initiatives, as it pivots towards production-readiness and operational sustainability.
According to statements made by company leadership, this joint venture enables Great Divide to redirect focus toward activities that could generate near-term revenue while relying on Dart Mining’s capabilities for front-end exploration and discovery advancement.
Technical Program Led by Dart Mining
Dart Mining will initiate an induced polarisation (IP) ground geophysical survey at the Banshee antimony-gold prospect. This technical step is expected to enhance subsurface target identification. Additionally, infill drilling is scheduled to refine existing mineralised zones, particularly where antimony and gold intersections have already been encountered in historical datasets.
These workstreams are structured to support the development of a resource model aligned with JORC standards. The geological setting of the Coonambula area is known to host intrusion-related mineralisation types, which share traits with nearby multi-million-ounce deposits elsewhere in Queensland.
Project Overview and Tenement Details
The Coonambula Project lies approximately several hundred kilometres north-northwest of Brisbane and comprises five granted exploration permits. The tenement package spans a land area of over two hundred square kilometres, covering a diverse geological environment that has previously supported artisanal and small-scale mining activity.
With Dart Mining taking operational leadership and Great Divide pursuing broader development goals, the partnership framework is designed to accelerate the technical understanding and economic assessment of the region’s antimony-gold mineralisation.
