Ora Banda Announces Successful Drilling at Riverina
Ora Banda Mining (ASX: OBM)
Provided an update on its continued exploration success at the high-grade Riverina Gold Camp.
Deep drilling at Riverina Underground confirms continuity of high-grade gold
mineralisation over 300m below the current mine plan, with the drill campaign still
progressing.
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| Ora Banda | ASX: OBM | |
| Stage | Production + development | |
| Metals | Gold | |
| Market cap | A$1.85 Billion @ 98c | |
| Location | Western Australia | |
| Website | www.orabandamining.com.au |
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ORA BANDA – SUCCESSFUL EXPLORATION DRILLING AT RIVERINA PAVES
THE WAY FOR MULTI-YEAR MINE LIFE EXTENSION
Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its continued exploration success at the high-grade Riverina Gold Camp.
Highlights:
• Deep drilling at Riverina Underground confirms continuity of high-grade gold
mineralisation over 300m below the current mine plan, with the drill campaign still
progressing
• Extensional drilling from Riverina Underground extends mineralisation in central
area resulting in immediate additions to mine plan
• Potential new greenfields discovery at Little Gem, located 2.5km south along strike
of Riverina Underground with first drill hole intersecting 3 parallel lodes, at good
grade and width
• Board has approved additional spend of $16 million in Exploration & Resource
Development and $29 million in Capital to rapidly advance drilling and expand
infrastructure.
Since October 2024, two surface diamond drill rigs have been drilling to test depth extents at the Riverina Underground as well as 2 underground drill rigs focussing on near mine extensions.
These programs are approximately 50% complete, however have delivered significant results by extending known structure and mineralisation to over 1km deep, which is 800m below the current working level and 500m below current mine plan.
In addition, the deep drilling has identified a high-grade shoot that is over 600m below current workings and 300m below current mine plan with intersections of 2.9m @ 36.0 g/t and 2.9m @ 18.9 g/t on the main lode and remains open at depth.
Significantly, the latest drilling results demonstrate the continuity of the mineralised structures which remain open and display strong tenor and grade in the deepest holes.
The main lode mineralised structure has been intersected in its anticipated position despite large step outs and drill hole depths in excess of 1km.
The high-grade shoot style of the mineralisation is consistent with what is observed in the current underground workings.
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Ora Banda’s Managing Director, Luke Creagh, said:
“The significant results that are flowing from deeper drilling at Riverina Underground are nothing short of remarkable and point to a future step change for the business as we can now see through to a multi-year expansion in mine life.
“Equally as exciting has been the first hole, a potential greenfields discovery, at Little Gem. The tenor of Little Gem’s mineralisation and its multi-lode structure exemplifies the highly prospective nature of the Riverina trend.
“We will be following up the discovery hole and otherprospects to the south as a priority.
“With the potential value creation that extending and expanding Riverina presents, the additional exploration and capital spend approved by the Board sets Ora Banda on the path of rapidly realising further value from the drill bit.”
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To read the full news release, 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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