Nick responded quickly and says I can repost, so here it is for your reading pleasure. Please do your own research. This is just information and but advice. Thanks to Nick Kelso at http://www.everblucapital.com/
What's Doing - GDM - Great Divide Mining Limited (Gold IPO listing @ 11am tomorrow) & yes I do own some as always for full disclosure, unlike the two other bio techs this week.
Great Divide Mining Limited - GDM.asx
Great Divide Mining Limited (GDM.asx) will be listing tomorrow at 11am after raising $5m @ 20c through the boys and girls at PAC Partners Securities who were kind enough to offer me a few.
Upon listing, GDM will have 30m shares on issue to give an EV of $2.9m, the top 20 shareholders own over 60% of the paper on issue.
GDM holds 11 granted exploration permits for Minerals (EPMs) over four project areas which include: Yellow Jack (YJP), Coonambula (CP), Devils Mountain (DMP) & Cape which are all prospective for Gold.
Haven't heard that word for a while.........gold that is !!!
The area immediately surrounding YJP is host to an abundance of mineral occurrences which are predominantly gold prospects.
The Big Rush Gold Mine formerly owned by Great Northern Minerals (GNM.asx) is located 20km to the southwest of the YJP in the same package of rocks.
The Big Rush Gold Mine produced 950Kt of oxide ore @ 1.90 g/t Au for 58,039 ounces gold recovered via a heap leach process and 33Kt of sulphide ore @ 11 g/t Au for 10,000 ounces by a trial Carbon-In-Leach (CIL) process during the 1990’s.
Previous explorers at GDM’s Yellow Jack Project undertook significant drilling which resulted in a non-JORC compliant resource of shallow oxide gold.
There is significant upside to this historic work with potential for extensions to the north and south, and at depth.
Gold mineralisation at Yellow Jack is associated with quartz veins and stockworks.
Anomalous gold occurs in a zone approximately 50 m wide along a strike exceeding 1 km in length
Historical drill results include:
16m @ 3.5 g/t Au from 9m depth in hole RB58
7m @ 4.13 g/t Au from 28m depth in hole RB65,
5m @2.05 g/t Au from 66m depth in hole 96YJRC168,
10m @ 3.23 g/t Au from 25m depth in hole 96YJRC163, and
1m @ 10.5 g/t Au from 49m depth in hole 96YJRC166
Further drilling will be carried out to in-fill the wide-spaced historical drilling and gaps in the drilling grid and expand to expand to the north and south along strike.
It's always good to know the historicals
The Coonambula Project (CP) is an advanced exploration project that includes over 15 historic gold and antimony mines and workings.
Several of the historic mines have been drilled by the Project Vendors with anomalous to ore-grade results received.
GDM is proposing to rapidly develop a gold-antimony resource base at Hungry Hill while undertaking further drilling works to develop a gold resource at the Perseverance area.
Numerous historical antimony-gold mines and workings occur within the Hungry Hill area of the CP tenements.
These mines and workings contain stibnite-gold bearing quartz vein mineralisation on east-west striking, sub-vertical structures within the Early Permian Granodiorites.
GDM is proposing to rapidly develop a gold-antimony resource base with previous intercepts reporting 3m @ 1.5% Sb and 8.5 g/t Au from 18m, 3m @ 1.6% Sb and 2.0g/t Au from 54m, 3m @ 9.2% Sb from 158m.
The Devils Mountain Project (DMP) is an advanced exploration project centred on an historic high grade gold mining area.
The DMP is in the renowned Gympie gold mining area close to Brisbane allowing GDM to rapidly develop the full potential of the Project.
The DMP has been subject to limited modern exploration and GDM is of the opinion that the DMP has significant potential upside.
Historical intercepts include 7m @ 11.45g/t Au, 3m @ 4.51 g/t Au and 2m @ 11.04g/t Au.
Finally there is the Cape Project which comprises two greenfields opportunities, the Bonanza and New Goldfields tenements.
Bonanza is within the sought-after Chillagoe Formation which hosts the Mungana and Red Dome deposits and is close to a number of advanced copper prospects.
New Goldfield has historically yielded several high-grade gold in rock chips which were not followed up by the previous explorers.
GDM is of the opinion that modern exploration techniques could produce positive results, that's the hope anyway.
While exploration at Cape is at an early stage, GDM considers the Cape Project to present a significant opportunity.
Ahead of GDM's listing, Justin Haines (CEO) will be conducting a briefing on upcoming catalysts and overview of the company tomorrow at 9:30am (AEST):
Jump on the link below if interested in learning more about these guys and maybe even hoover a few up from the impatient day one flippers
https://bit.ly/3PbPpSB
Let's hope so........
Enjoy the champagne at the ASX in the morning boys & I hope to catch up with you in the afternoon for a shandy or three (depending how we go of course) - not really it's Friday and I will be glugging anyway !!!
(20min delay)
