Ora Banda Mining (ASX: OBM)
Announced the commencement of underground mining at Waihi together with further high-grade drill results at Golden Pole and the newly identified “Midnight” Prospect.
Underground mining has commenced at Waihi, located three kilometres west of Ora
Banda’s Davyhurst processing plant in WA.
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Ora Banda mine location map – Credits Ora Banda Mining
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| Ora Banda | ASX: OBM | |
| Stage | Production + development | |
| Metals | Gold | |
| Market cap | A$3 Billion @ A$1.59 | |
| Location | Western Australia | |
| Website | www.orabandamining.com.au |
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Ora Banda Commences Underground Mining at Waihi
High-grade potential of the Waihi Underground mine highlighted by exceptional drilling results from Golden Pole and the newly named “Midnight” Prospect.
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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce the commencement of underground mining at Waihi , together with further high -grade drill results at Golden Pole and the newly identified “Midnight” Prospect .
Highlights:
• Underground mining has commenced at Waihi, located three kilometres west of Ora
Banda’s Davyhurst processing plant
• Waihi is the third underground mine started in three years, and is one of four mines
contributing to Ora Banda’s DRIVE to 300 strategy targeting production of 300 ,000
ounces in FY29
• Waihi is considered a large and under -drilled system, with mul tiple high -grade shoots that plunge to the north , including the Golden Pole lode with a n Ore Reserve grade of 5.0 g/t
• Step out drilling ~500m south of the Waihi portal has defined another potential high -grade Prospect named Midnight (formerly “Dexy”) , with exceptional drill results including :
o 11.5m @ 26.0 g/t Inc. 8.9m @ 32.4 g/t Midnight
o 10.3m @ 3.4 g/t Inc. 0.9m @ 20.6 g/t Midnight
o 1.6m @ 65.9 g/t Inc. 1.0m @ 104.0 g/t Midnight
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• A key element for Waihi Underground will be to establish drill drives allowing rapid follow up drilling on Golden Pole and Midnight, targeting both strike and depth extensions, as well as further drilling on the main Waihi line of lode
• Waihi Underground is scheduled to contribute high grade ore from mid CY2027, which will de-risk the production profile ahead of delivery of Ora Banda’s new 3.0 Mtpa processing plant in early CY2028.
Waihi is considered a large and under-drilled system with multiple high -grade shoots that plunge to the north, including the Golden Pole lode. Recent step out drilling ~500m south of the Waihi portal has discovered another potential high-grade prospect called Midnight for further near-term exploration.
Underground mining operations have now begun at Waihi with the establishment of a decline portal which is accessed through the Waihi open pit. The Waihi decline will allow access to the Golden Pole lode, as well as enabling the development of underground drill platforms, with intensive drill programs scheduled to define and expand the mineralised envelope.
Development of the Waihi underground mine is an important de-risking event for Ora Band as the Company advances construction of the new 3.0 Mtpa processing facility, with the high-grade Golden Pole material set to be preferentially treated through the existing Davyhurst Mill, offsetting the reduced processing volumes as the Company seeks to end third party processing and begins to stockpile ore ahead of the planned commissioning of the new mill during early CY2028 .
Waihi is the third underground mine to be developed by Ora Banda in three years, with the Company anticipating first ore from Waihi Underground mid-CY2027.
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Ora Banda’s Managing Director, Luke Creagh, said:“Once again, it’s a credit to the OBM team and business partners to rapidly identify an opportunity and turn it into a mine.
“We are excited to have commenced underground mining at Waihi, Ora Banda’s third underground mine and a key pillar of our DRIVE to 300 strategy .
“Importantly, Waihi w ill deliver high -grade ore from mid -2027 ahead of the scheduled delivery of our 3.0 Mtpa processing plant at Davyhurst.
“Furthermore, the newly identified Midnight Prospect adds to a growing list of high -grade underground targets at Waihi, with the establishment of underground drill platforms a key near term objective to extend and infill what is considered a large and under-drilled system .”
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The full news release can be viewed HERE
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Disclosure
At the time of writing the author holds shares in Ora Banda Mining.
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