Ora Banda Mining (ASX: OBM)
Povided an update on its continued exploration success at its high-grade Riverina Gold Camp, Waihi and Little Gem prospect.
Infill drilling between 500 to 1,000 metres below surface returns numerous highgrade intersections (>20 gram-metres) delivering at a very high hit ratio.
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Ora Banda Minesite – Credits Ora Banda Mining
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| Ora Banda | ASX: OBM | |
| Stage | Production + development | |
| Metals | Gold | |
| Market cap | A$2.1 Billion @ A$1.10 | |
| Location | Western Australia | |
| Website | www.orabandamining.com.au |
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ORA BANDA MINING STRONG NEW DRILL RESULTS AT RIVERINA, WAIHI & LITTLE GEM
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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its continued exploration success at its high-grade Riverina Gold Camp, Waihi and Little Gem prospect.
Highlights:
Riverina Deeps
Recent deep drilling at Riverina has confirmed a robust and continuous mineralised system expanding to 1,000 vertical metres, highlighting strong mineralised continuity and significant potential for future mine life extensions.
Riverina Deeps – Exploration
• Infill drilling between 500 to 1,000 metres below surface returns numerous highgrade intersections (>20 gram-metres) delivering at a very high hit ratio
• Mineralised system continues strongly at depth with the Company continuing to
work towards an updated Mineral Resource Estimate (MRE)
• Significant results include:
o 1.7m @ 76.4 g/t Inc. 1.0m @ 129.5 g/t o 4.7m @ 12.5 g/t Inc. 0.5m @ 108.0 g/t
o 11.8m @ 9.8 g/t Inc. 2.2m @ 21.0 g/t o 2.0m @ 28.2 g/t Inc. 1.2m @ 43.9 g/t
& Inc. 4.2m @ 11.8 g/t o 3.1m @ 18.0 g/t Inc. 1.0m @ 51.2 g/t
o 4.3m @ 24.6 g/t Inc. 0.8m @ 34.4 g/t o 2.5m @ 19.7 g/t Inc. 1.3m @ 36.2 g/t
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Waihi Exploration
• An initial seven-hole program has been completed at Waihi providing material
depth extensions to the known mineralisation
• Hole WHDD25004W1 intersected a new mineralised zone in the footwall of the
main mineralisation at 330 metres below surface, returning 8.7m @ 9.3g/t,
including 1.1m @ 30.2 g/t and 0.4m @ 90.6 g/t. The zone remains open in all
directions
• Other significant intersections include:
o 1.5m @ 18.6g/ Inc. 0.4m @ 72.5g/t
o 0.4m @ 18.0g/t & Inc. 0.3m @ 229.0 g/t
o 5.8m @ 2.5 g/t
o 1.5m @ 8.1 g/t
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Ora Banda’s Managing Director, Luke Creagh, said:
“These strong new drill results across three distinctly different areas are testament to
prospectivity of the Davyhurst Gold Project.
“We remain extremely active on the drilling front, with five surface rigs turning and five underground rigs active which combined are producing more than 850 metres of diamond core a day.
“This accelerated drill rate is a key driver for the business as we look to rapidly grow our
mineral resources, extend existing project mine life and identify new mines to develop.
“We think the Waihi results in particular are very significant as they continue to promote this deposit’s potential to become Ora Banda’s third underground mine.
“Likewise, the Little Gem – Sunraysia results are also exceptional given this is at an early greenfields stage on very wide space drilling.
“Proving approximately five kilometres of consistent and highly prospective strike, again with multiple lode surfaces, is an outstanding start to exploration in this area and we remain excited about the potential size of this system.”
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To read the full news release, please click HERE
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.To View Ora Banda Mining’s historical news, please click here
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Ora Banda MIning.
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