Coonambula Drilling Confirms Broad Shallow Gold Zones

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Stock Great Divide Mining Ltd (GDM.ASX)
Release Time 16 Apr 2026, 10:11 a.m.
Price Sensitive Yes
 Coonambula Drilling Confirms Broad Shallow Gold Zones
Key Points
  • Assays received for drill holes CBADD011 to CBADD013, confirming broad, shallow gold zones
  • Key intercept of 4.9m @ 5.27 g/t Au from 21.0m, including 1.0m @ 14.6 g/t Au
  • Results indicate historical drilling may have under-sampled key gold zones
Full Summary

Great Divide Mining Ltd (ASX:GDM) announced the release of further assay results from ongoing diamond drilling at the Coonambula Antimony-Gold Project in Queensland, in which GDM holds a Farm-In Joint Venture interest. The latest results from drill holes CBADD011 to CBADD013 continue to support the presence of broad, shallow gold mineralization at the Banshee Prospect. Key intercepts include 4.9m @ 5.27 g/t Au from 21.0m (CBADD013), including 1.0m @ 14.6 g/t Au, as well as 1.8m @ 1.98 g/t Au (CBADD012) and 0.4m @ 2.63 g/t Au (CBADD011). The results suggest that historical reverse circulation drilling may not have adequately sampled portions of the broader gold system, with diamond drilling now providing improved geological resolution. Gold mineralization is associated with alteration zones rather than always visually obvious sulphide mineralization. Dart Mining has now completed approximately 3,586m of diamond drilling at the Banshee Prospect, with assay results received for all 2025 drilling. The program has been impacted by seasonal weather conditions, but drilling and sample processing activities are continuing. These results contribute to ongoing work to define the scale and continuity of mineralization, supporting future resource definition. GDM's CEO commented that the identification of broader gold zones at shallow depth is particularly encouraging, and the Joint Venture program is progressing as planned with a focus on defining a mineral resource.

Outlook

Dart Mining and Great Divide Mining will continue to progress farm-in exploration at the Coonambula project, including reporting additional drilling results, continuing to drill and test the Banshee mineralization trend, conducting metallurgical test-work, and developing a 3D model and JORC resource declaration as soon as possible.