GDM Walks the Walk
In under 90 days after its’ first birthday, Gold explorer Great Divide Mining, GDM, has announced it is now planning to commence its’ first production of Gold this financial year.
“Our strategy has always been to control each step of the gold production process, from exploration through to production. We’ve done it,” said CEO, Justin Haines.
“Our strategy of targeting historical workings has delivered the de-risking, conservation of capital and speed to market as we said it would.”
“We might not become the biggest gold producer, but in a little over a year GDM have proved that we not only Talk-the-Talk, along with every other gold exploring hopeful, but at GDM there’s a difference, at GDM we also Walk-the-Walk … and we’ve proven it.”
Today GDM announced the signing of a Binding Agreement with Adelong Gold Ltd (ASX:ADG) to operate its’ Adelong Venture.
The 51% ownership agreement will see GDM expand into a historically significantly mined region which has delivered 800,000 oz of gold and includes a 68km2 exploration permit and 1.5km2 mining permit.
“We will review existing Mine Plans,” said Mr. Haines, “which include upgrading of the existing processing plant to operate as a central processing facility for the region.”
“The processing plant delivers the foundations for a sustainable commercial operation, with a current mine life of 5-years indicated, and that’s before we get in and implement a GDM style in-fill and extension drilling program,” he said.
“Upgrading of the plant will see GDM processing up to 35t/hr with up to 92% gold recovery,” he said.
Existing drilling programs have indicated a significant in situ resource.
“Every brown-field site we recommission, means we’ve protected another piece of the environment,” said Paul Ryan, GDM’s Chairman.
“Watch this space!” quipped Haines.
