Additional drilling results are anticipated in the coming months.
Dart Mining is advancing its initial drilling program at Coonambula using its in-house rig. The program aims to infill existing high-grade intersections and move toward establishing an antimony-gold resource compliant with the Joint Ore Reserves Committee (JORC) standards. Additional drilling results are expected in the coming months, which will help further define the resource.
Justin Haines, GDM managing director, said: “The Coonambula project and GDM’s joint venture [JV] with Dart Mining continues to demonstrate why GDM secured this position. These drilling results confirm the potential for a high-value antimony-gold system at the historic Banshee Mine and further strengthen the case for accelerated drilling across the Banshee trend.”
Under the joint venture agreement, Dart Mining may earn up to a 51% interest in the Coonambula project, which covers six tenements, by completing specific drilling and reporting milestones within a two-year period. Dart Mining has acquired an initial 15% interest by paying $250,000 (A$383,432) to GDM and is required to complete at least 4,000 meters of drilling and deliver two geological or resource reports to reach the 51% ownership threshold. During the earn-in period, Dart Mining will manage the JV, while GDM retains ownership of the tenements and a carried interest throughout the early exploration phases.
The Coonambula project is located approximately 70 km southeast of Evolution Mining’s Cracow gold mine and around 25 km southwest of Eidsvold. It is currently 100% owned by GDM through its subsidiaries GDM Coonambula and GDM Yellow Jack.
James Chirnside, Dart Mining chairman, said: “Every hole we have drilled at Coonambula since the start of the programme has shown these impressive zones of massive Stibnite. With the return of CBADD001 assays, we are very pleased with not only the grade of the antimony, but the broader antimony-gold-silver zones that are present. Our keen interest is to continue to drill, moving closer to the historical Banshee Mine to see if there is an increase in grade and thickness given the size of the historical mine.”
The initial results from Coonambula highlight the project’s potential to host a high-value antimony-gold system, reinforcing the strategy to accelerate drilling along the Banshee trend. The JV’s work aims to establish a JORC-compliant resource, contributing to future development and exploration in the region. The collaboration demonstrates Dart Mining and GDM’s commitment to advancing antimony-gold exploration while leveraging historical data and modern drilling techniques to maximize resource potential.
This progress positions the Coonambula project as a significant exploration target in Central Queensland, supporting long-term plans for resource development and providing a foundation for future growth in the antimony and gold sectors.
