PRESS RELEASE: GDM Coonambula Moves Toward Maiden JORC Resource
• Gold mineralisation confirmed over 730 metres of strike length.
• Project now advances toward Maiden JORC Mineral Resource Estimate.
• The mineralised system remains open along strike and at depth.
• Significant exploration upside.
Great Divide Mining Ltd (ASX:GDM) has taken another significant step toward defining a maiden mineral resource at its’ Coonambula Project in Central Queensland, following completion of the first major drilling program by joint venture partner Dart Mining NL.
The 4,100-metre drilling campaign confirmed gold mineralisation across approximately 730 metres of strike, with the mineralised system remaining open both along strike and at depth.
The completion of drilling now allows the Joint Venture to transition from exploration into the next phase of project development, including metallurgical test work, three-dimensional geological modelling and preparation of a maiden JORC Mineral Resource Estimate.
Great Divide Mining CEO Justin Haines said reaching the resource definition stage represented another important milestone for the Company and its shareholders.
“Every successful exploration program reduces uncertainty and improves our understanding of the mineral system,” Mr Haines said.
“The fact we have now confirmed gold mineralisation over more than 730 metres of strike, while the system remains open both along strike and at depth, gives us considerable confidence as we move toward our Maiden Mineral Resource,” Haines continued.
“Resource definition is an exciting stage for any exploration project because it transforms years of research and exploration into something the market can begin to quantify and value,” Mr Haines said.
“Importantly, we are not at the end of the story. The mineralised system remains open, giving us confidence that there is still further upside,” said Haines.
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