Great Divide Mining Ltd (ASX:GDM) has confirmed the presence of high-grade gold and antimony at its Banshee prospect in Queensland, with results of up to 23.9% antimony (Sb) and 9.93 grams per tonne (g/t) of gold yielded from geochemical samples found in historical trenches along strike from the old Banshee mine.
As part of this exploration work, GDM also conducted sampling from a horizontal channel, with best results from this being 4 metres at 3.09 g/t gold and 1.14% Sb in Trench 13,
including 1 metre at 6.15 g/t Au and 3.1% Sb.
The company is hoping to use these geochemical results from old trenches at Banshee to connect surface mineralisation with antimony-gold mineralisation found in previous drill holes, to facilitate the next stage of 3D modelling for the project.
CEO Justin Haines said he was encouraged by the results.
“Not only do we have high-grades of antimony, but we also have high-grades of gold up to 9.93 g/t Au,” he said.
“GDM has shown that the mineralisation extends along strike, well away from the old workings.
“The anomalous Sb-Au system at Banshee is open to the east and west, plus at depth, so GDM will continue to explore this exciting prospect to unlock its full potential.”
GDM shares moved up on the news, and at 13:04 AEDT, they were trading at 26 cents – a rise of 6.12% since the market opened.
Join the discussion: See what HotCopper users are saying about GDM and be part of the conversations that move the markets.