Highlights
- Great Divide Mining (ASX:GDM) reported additional drilling results from the Banshee Prospect at the Coonambula Project.
- The best intercept returned 5.8 metres grading 1.73g/t gold, 11.57g/t silver and 4.76% antimony.
- Drilling has now tested more than 500 metres of strike extent at the Banshee lode.
- The silver-antimony-rich core remains open both along strike and down dip.
- Further assay work, metallurgical studies and resource evaluation activities are planned.
Great Divide Mining (ASX:GDM) has reported further encouraging drilling results from the Banshee Prospect within the Coonambula antimony-gold project in central Queensland, reinforcing the scale and continuity of mineralisation identified to date. The latest assays continue to demonstrate the presence of gold, silver and antimony mineralisation while extending understanding of the broader mineralised system.
The results were generated through the ongoing farm-in joint venture exploration program and provide additional evidence that the Banshee lode remains open beyond the current drilling footprint. Management believes the new data supports the potential for further expansion of mineralisation both along strike and at depth.
High-Grade Intercepts Continue to Define the System
The latest assays cover drill holes CBADD014 through CBADD022 and represent drilling completed up to the end of February 2026.
Among the standout results was an intercept of 5.8 metres grading 1.73 grams per tonne gold, 11.57 grams per tonne silver and 4.76% antimony from 53.7 metres depth.
Within that broader interval, the drilling returned a high-grade section of 0.85 metres grading 2.18 grams per tonne gold, 71.12 grams per tonne silver and 26.66% antimony.
Another notable intersection returned 6.1 metres grading 1.11 grams per tonne gold and 0.5% antimony, including narrower zones containing up to 4.59 grams per tonne gold and 3.74% antimony.
Additional drilling intersected 2.4 metres grading 2.66 grams per tonne gold, 6.44 grams per tonne silver and 0.76% antimony.
The latest results continue to demonstrate the presence of multiple mineralised zones across the prospect.
Silver and Antimony Core Remains a Key Feature
One of the important geological observations emerging from the drilling program is the presence of a silver-antimony-rich core within a broader gold mineralised envelope.
Results from multiple drill holes indicate that elevated silver and antimony grades occur within specific parts of the mineralised system.
According to the geological interpretation, this higher-grade silver-antimony core extends both down dip and along strike from the historical Banshee Mine area.
The identification of these mineralised domains provides additional insight into the distribution of metals within the deposit and may assist future targeting and resource modelling efforts.
Understanding the relationship between gold, silver and antimony mineralisation remains a key component of the ongoing exploration strategy.
Strike Extent Continues to Grow
The latest drilling results have now tested more than 500 metres of strike length along the Banshee lode.
Importantly, the company reported that mineralisation remains open at both the eastern and western limits of the current drilling program.
Geological logging from the outermost drill holes identified alteration, veining and sulphide mineralisation that are consistent with the broader hydrothermal system responsible for the main mineralised zone.
At the western end, drill hole CBADD017 intersected strong sericite alteration, pyrite mineralisation and evidence of sustained hydrothermal fluid flow.
At the eastern end, CBADD021 intersected arsenopyrite, pyrite and stibnite mineralisation, indicating that mineralising fluids remained active beyond the currently drilled area.
These observations suggest further exploration potential remains across the prospect.
Geological Interpretation Supports Expansion Potential
As drilling progresses, the geological team continues refining its understanding of the controls on mineralisation.
The latest drilling has identified evidence of faulting and structural complexity that may influence the distribution of mineralised zones across the deposit.
Repeated phases of quartz-sericite veining, sulphide mineralisation and hydrothermal alteration have been recognised throughout the drilling program.
These features are helping geologists build a more detailed interpretation of the deposit and identify areas where mineralisation may continue beyond the current drilling pattern.
The company believes the combination of alteration, sulphide assemblages and structural indicators supports the potential for additional discoveries within the broader project area.
Progress Toward Resource and Metallurgical Studies
The drilling campaign is also contributing to longer-term project development objectives.
According to the company, approximately 4,100 metres of diamond drilling have now been completed across the Banshee Prospect, with logging progressing across the majority of completed holes.
Assay results have now been received for all drilling completed up to March 2026, while additional samples continue to be processed and dispatched for laboratory analysis.
Future work is expected to include metallurgical test programs and resource evaluation activities designed to improve understanding of the project’s development potential.
These studies will help determine how the mineralisation responds to processing and support future resource estimation work.
Antimony’s Growing Strategic Importance
In addition to gold and silver, the presence of antimony continues to attract attention.
Antimony is increasingly viewed as a strategic mineral due to its applications in energy storage technologies, defence systems, flame retardants and specialty alloys.
The combination of precious metals and antimony mineralisation provides exposure to both traditional gold markets and emerging critical minerals themes.
As governments and industries continue focusing on Supply chain security, projects containing strategic minerals may receive increased attention from investors and policymakers.
The Banshee Prospect’s multi-Commodity nature is therefore becoming an increasingly important aspect of the exploration story.
About the Company
Great Divide Mining is an Australian resource company focused on developing precious metal and critical mineral opportunities. The company is involved in the Coonambula Project in Queensland, where exploration activities are targeting gold, silver and antimony mineralisation associated with the historical Banshee workings.
Industry Trends and Market Context
Gold remains a key focus for resource investors due to its role as a Store of Value and its historical performance during periods of economic uncertainty. At the same time, strategic minerals such as antimony are attracting increasing interest due to their importance in industrial and defence-related applications.
Globally, governments continue to encourage the development of domestic and allied sources of critical minerals. Exploration projects that combine precious metals with critical mineral exposure are increasingly being evaluated for their potential to participate in evolving supply chains and industrial Demand trends.
Bullish Perspective
Supporters may view the latest drilling results as evidence that the Banshee system continues to expand. The combination of gold, silver and antimony mineralisation, together with a mineralised corridor extending beyond 500 metres of strike, suggests further exploration upside. Open-ended mineralisation and ongoing metallurgical work may support future resource growth and project advancement.
Bearish Perspective
More cautious investors may note that several holes returned limited mineralisation, reflecting the variability often associated with exploration-stage projects. Structural complexity and faulting could complicate resource definition efforts. Significant additional drilling and technical studies will be required before the project’s scale and economic potential can be fully assessed.
Investment Risks and Challenges
Great Divide Mining remains exposed to exploration risk, as future drilling may not consistently replicate current grades or widths. Geological interpretations may evolve as additional drilling information becomes available.
The project is also exposed to fluctuations in gold, silver and antimony prices, which can affect future development Economics. Metallurgical performance, permitting requirements, funding availability and broader market conditions will also influence the project’s long-term advancement potential.