By Julius Ewudo, ASEAN Region Representative
Great Divide Mining has announced signing of Binding Agreements which will see it enjoy the benefits of significantly increased strike length at its Devil’s Mountain project site located near Kilkivan in SE Queensland.
“The Devil’s Mountain project is right in GDM’s project sweet spot,” said Justin Haines, CEO, “historically proven workings with limited modern exploration activity.”
“These tenements can potentially extend our strike length to over 7.5 km.”
“The acquisition of these additional tenements at our Devils Mountain project represents a substantial enhancement to our current tenement package at Devils Mountain. The tenements will provide the Company access to the extensions of the known Devils Mountain historic gold mining area, plus, the Kilkivan gold and copper fields near the historic Clara Copper Mines,” he said.
The two Binding Asset Sale Agreements, with VGE Pty Ltd & with Alluvial Gold Mining Pty Ltd, whilst binding, are subject to due diligence and JORC compliant resources being identified.
“At GDM we hold the view that historical workings such as these deliver significant and multiple upsides,” said Haines, “The project is significantly de-risked as exploration activity can be more tightly focused in areas of known mineralisation minimising speculative drilling costs. Further, the permitting requirements for such brown-field sites are eased and the environment is the ultimate winner whilst we continue to work within the existing historical mining foot-print.”
“The Devils Mountain Project now comprises four prime exploration targets – the Devils Mountain gold prospect, Gibraltar Rock porphyry copper prospect, the Glastonbury gold prospect, and the Kilkivan gold and copper prospect,” he said.
