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Highlights
- Great Divide Mining identifies high-grade antimony and gold in Banshee prospect trenches
- Sampling reveals up to 23.9% antimony and 9.93 g/t gold in historic trench areas
- Exploration results aim to link surface mineralisation with deeper deposits for 3D modeling
Great Divide Mining Ltd (ASX:GDM) has announced the discovery of significant antimony and gold mineralisation at its Banshee prospect in Queensland, Australia. The company’s recent geochemical sampling, conducted within historical trenches along the old Banshee mine area, revealed high concentrations of both metals, with results reaching up to 23.9% antimony (Sb) and 9.93 grams per tonne (g/t) of gold. These findings add a promising dimension to the ASX mining stock's Banshee prospect, which is now shaping up as a compelling exploration site for Great Divide Mining (GDM).
Sampling in a particular horizontal channel, part of GDM’s methodical exploration approach, yielded impressive results. The highest values recorded in this area included a four-meter section with an average of 3.09 g/t gold and 1.14% Sb, including a one-meter section with 6.15 g/t gold and 3.1% antimony. These values suggest that the mineralised zones extend beyond the existing mine area, indicating that GDM may be on track to establish new resources within this historic mining region.
The current exploration aims to connect surface mineralisation with deeper deposits previously identified in drill holes. This connection could be crucial for GDM as it sets up for the next phase of its exploration campaign at Banshee, where 3D modeling will help map and understand the full extent of the mineralised zones. The presence of a continuous antimony-gold system, especially one that remains open to the east, west, and at depth, underscores the potential of the Banshee prospect to yield more resources with continued exploration.
Great Divide Mining’s CEO, Justin Haines, highlighted the importance of these findings, noting the promising high grades in both antimony and gold. The discovery of an Sb-Au system that extends well beyond the old workings of the mine also suggests substantial room for further exploration and growth in resource estimation at the Banshee prospect.
Following this announcement, GDM shares saw a notable uptick, reflecting the market’s positive reception of these exploration results. By 13:04 AEDT, shares were trading at 26 cents, marking a 6.12% increase since the market opening.
These findings strengthen Great Divide Mining’s position in the antimony and gold sectors, particularly within Queensland, where mineral-rich sites like Banshee continue to show promise. With the groundwork for further exploration well underway, GDM's future plans at Banshee could unveil even greater potential for high-grade mineralisation in the region.
