Ora Banda Mining (ASX: OBM)
Provided an update on its continued exploration success at the Little Gem prospect.
Subsequent to the highly successful five hole drill program (Phase 1 drill program) at Little Gem which returned 22.7m @ 5.0 g/t and 10.9m @ 6.4g/t, Ora Banda committed to a 16-hole broad spaced diamond drilling program across Little Gem and Sunraysia.
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Ora Banda minesite – Credits Ora Banda Mining Ltd.
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| Ora Banda | ASX: OBM | |
| Stage | Production + development | |
| Metals | Gold | |
| Market cap | A$1.26 Billion @ A$0.64 | |
| Location | Western Australia | |
| Website | www.orabandamining.com.au |
HIGH GRADE, MULTI-LODE GOLD SYSTEM EXPANDED TO
OVER 1KM STRIKE AT 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 the Little Gem prospect.
Subsequent to the highly successful five hole drill program (Phase 1 drill program) at Little Gem which returned 22.7m @ 5.0 g/t and 10.9m @ 6.4g/t, Ora Banda committed to a 16-hole broad spaced diamond drilling program across Little Gem and Sunraysia (Phase 2 drill program) to test the prospective carbonate horizons over 4.7 kms and down to a depth of 400 vertical metres below the surface.
The Phase 2 drill program is now complete with assays now having been returned.
Little Gem Highlights:
• 16 hole Phase 2 drilling program now complete with all assays returned
• Phase 2 drilling has confirmed a multi-lode gold mineralised system at Little
Gem, with high gold grades and large lode widths
• Significantly, Hole LGDD25008 returned 8.8m @ 6.3g/t at a depth of 320 metres
below surface. This hole is 400 metres north of LGDD25005 (22.7m @ 5.0g/t)
• Drilling has defined multiple lodes at the Little Gem prospect, with the Company
having modelled four of these, namely the Diamond Lode, Ruby Lode, Sapphire
Lode and the Tanzanite lode
• The LGDD25008 intersection shows that the prospective strike of a well-developed
high-grade shoot on the Diamond Lode is over 1,000 metres and remains open at
depth (See figure 3)
• Phase 3 follow up drilling program of 38 holes has commenced with two
diamond rigs and one RC rig currently active on the program. This drilling will
target multiple lodes of the Little Gem system from the surface down to 500
metres, with some deeper drill testing of the system down to 750 metres below
surface planned.
The Phase 2 drill program was planned as very broad spaced (400-metre section lines), earlystage drill testing of the greenfields potential of the Little Gem – Sunraysia system.
Excitingly the program has confirmed a multi-lode system displaying strong tenor with high gold grades and large lode widths at Little Gem. Mineralised shoot development and geometry is now becoming apparent, although exploration remains at an “early stage”.
Significantly for the Phase 2 program, Hole LGDD25008, on a 400-metre step out to the north of LGDD25005 (22.7m @ 5.0g/t) and targeting the Diamond Lode has returned 8.8m @ 6.3g/t at a depth of 320 metres below surface.
This intersection shows that the prospective strike of a well developed high grade shoot on the Diamond Lode has a potential strike length in excess of 1,000 metres and depth extents of at least 400 metres below surface.
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Ora Banda’s Managing Director, Luke Creagh, said:
“These results continue to expand the potential of Little Gem as a large-scale, high grade and multi-lode system.
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“These results demonstrate a potential strike length in excess of 1,000 metres and the system remains open at depth.
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“The 38 hole Phase 3 program at Little Gem will provide significant drill coverage of the interpreted high-grade lodes to rapidly advance our understanding of the size and scale of the system”
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“The Little Gem trend is one of multiple drill programs we have commenced as part of the $73 million allocated to exploration and resource development drilling in FY26 and we are looking forward to results from all of these programs.”
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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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