Great Divide Mining (ASX:GDM) has announced the successful completion of its first gold pour at the Challenger Gold Mine, part of Adelong Gold’s (ASX:ADG) project. This achievement marks the second major milestone under the joint venture’s share sale agreement. Great Divide Mining is focused on resource exploration and development. Adelong Gold is an Australian exploration company focused on gold and base metal projects.
Funding the operations required to meet gold production targets within the initial 12 months has resulted in Great Divide Mining securing a 51 per cent interest in the Challenger Mine. This was achieved by providing contractors and reactivating the recovery plant. The plant’s reactivation involved a gravity recovery process, which uses no cyanide or chemical additives, allowing the joint venture to efficiently deliver gold at a low cost.
Great Divide Mining intends to commercialise production at the Challenger site. Resource definition and extension drilling plans are set to be finalised shortly. CEO Justin Haines stated that the company has demonstrated its commitment to building a cash-flow mining business, achieving first gold production and majority ownership of an operating gold mine and processing facility in under two years since its IPO.
Adelong Managing Director Ian Holland hailed the first gold pour from the Challenger Mine as a landmark moment for the company. With the joint venture set to continue processing remnant ore and tailings at the recovery plant, Adelong will now shift its focus to its Lauriston Gold Project in Victoria.
