GDM - Great Divide Mining

[System]

Great Divide Mining Ltd is a mineral exploration company acquiring the rights to a number exploration permits for minerals in Queensland. At listing, the Company will own the rights to the tenements comprising the following projects, through ownership of the respective holding companies:

(a) to the Yellow Jack Project near Greenvale west of Townsville;
(b) to the Devil’s Mountain Project near Gympie;
(c) to the Coonambula Project near Eidsvold;
(d) to the Cape Project located near the Palmer River;

The funds raised from the IPO will be utilised to enable the Company to systematically explore and develop across its various projects.

It is anticipated that GDM will list on the ASX during July 2023.

Great Divide Mining exploring 4 world-class metallogenic provinces

Great Divide Mining Ltd is actively exploring an advanced portfolio of exploration targets in 4 world-class metallogenic provinces across Queensland, Australia.

greatdividemining.com.au

 

[Dona Ferentes]

L... surely 05 July??

Listing date	05 June 2023 ; 11:00 AM AEST ##
Company contact	https://greatdividemining.com.au/ Ph: 07 3071 9292
Principal Activities	Mining Exploration
Industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	GDM
Capital to be Raised	$5,000,000
Expected offer close date	19 June 2023
Underwriter	Not underwritten, PAC Partner Securities Pty Ltd (Lead Manager

 

[Dona Ferentes]

one keeping a low profile since IPO, and staying in the stag
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An update on its exploration activities at its Yellow Jack Project following the recent release of its maiden JORC 2012 Inferred Mineral Resource Estimate of 1.84Mt @ 0.86 g/t Au for 51,100 oz contained gold above a cutoff grade of 0.5g/t Au.

Highlights:
• Drill program comprising 20 drill holes planned to commence next week with drillers and equipment contracted and ready to go;
• 14 RC drill holes to test resource extensions within, at depth and along strike of the current resource as well as 6 Core holes to ‘twin’ historic RC holes allowing confirmation of grade, structure, and providing metallurgical samples to consider grade improvement;
• Portable XRF and mobile sample preparation lab will be on site and will be used for rapid in-field chemical analysis, enabling early indicative results and reducing laboratory sampling costs;
• Conceptual mine plan nearing completion, with Pre-Feasibility Study to follow, advancing towards mine development commencing in 2024.

Chief Executive Officer, Justin Haines, commented:
“Our recent Mineral Resource Estimate at Yellow Jack of 1.84Mt @ 0.86 g/t Au for 51,100 oz contained gold which is largely near surface confirms the significant potential this project has as a near term mining operation.

“GDM’s strategy for Yellow Jack is to bring it into operation by 2025 with limited capex, taking advantage of nearby existing processing infrastructure, in order to provide cash flow to fund exploration activities across our broader portfolio of highly prospective exploration projects.

“This new drill program, commencing next week, will be aimed towards both resource extension as well as potential further grade improvements through ‘twinning’ of historical holes.”
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so far so good.