Ora Banda Mining (ASX: OBM)

Provided an update on its continued drilling success at its Waihi deposit.

Following the success of the first seven- hole drill program that was reported on 10 June 20251 at Waihi, Ora Banda has embarked upon a 45-hole drill program for 15,300 metres targeting depth extensions and new discoveries.

 

 

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	Ora Banda	ASX: OBM
	Stage	Production + development
	Metals	Gold
	Market cap	A$1.86 Billion @ A$0.99
	Location	Western Australia
	Website	www.orabandamining.com.au

 

 

ORA BANDA ANNOUNCE OUTSTANDING DRILL RESULTS AT WAIHI BUILDS MOMENTUM FOR THIRD UNDERGROUND MINE

 

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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its continued drilling success at its Waihi deposit.

Following the success of the first seven- hole drill program that was reported on 10 June 20251 at Waihi, Ora Banda has embarked upon a 45-hole drill program for 15,300 metres targeting depth extensions and new discoveries.

Early drilling has been highly successful in expanding the mineralised envelope with the best intercept of 6.0m @ 21.1g/t presenting 200 metres below surface and demonstrating the high-grade potential within the envelope.

The program has extended the Waihi West Lode to over 350 metres below surface with hole WHDD25006W2 returning 3.9m @ 29.5 g/t (Inc 1.8m @ 60.8 g/t).

This is the deepest hole drilled to date targeting this lode surface. In a shallower, potential second shoot position, hole WHRC25005 returned 7.0m @ 14.5g/t.

Follow up drilling on both of these potential shoots remains ongoing.

A significant outcome has been the discovery of a new Lode system in the hanging wall of the historical Gold Pole mine with early drilling returning 13.5m @ 6.1 g/t and 8.0m @ 8.7 g/t (Inc 4.0m @ 14.9 g/t). These intersections remain open along strike, to the north and down plunge.

Follow-up drilling has been planned to expand on this discovery.

According to the Minedex database, the historical Golden Pole mine produced 81,000 tonnes @ 29.0g/t Au for ~77,000 ounces (between 1900 and 1939), all extracted via underground mining methods.

Currently the down plunge extensions of this mine remain untested at depth and are
hosted within the same controlling structures and geological setting as the main Waihi complex.

The Golden Pole was mined to a depth of 190 metres (275mRL) below surface, yet the deepest drill intercept is only 150 metres below surface (345mRL). The mine’s shoot dimensions are relatively small, with approximately 250 metres of plunge continuity and 60-70 metres of height, with mining widths, at times exceeding 5-10 metres.

As reported on 10 June 20251, hole WHDD25004W1 intersected 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. This position has now been interpreted to be the down plunge continuance of the Lady Georgina Lode.

Lady Georgina held some of the highest near surface grade gold mineralisation that was mined historically in an underground mine and subsequently in an open cut mine.

Additional drilling has been being planned for this position and will be scheduled in the near term.

Highlights:

• Drilling from the first 9 holes from a planned program of 45 drill holes (15,300
metres) at the Waihi deposit has delivered outstanding results.
• The drilling intersected both:
o a new gold lode returning 13.5m @ 6.1 g/t & 8.0m @ 8.7 g/t (Inc 4.0m @
14.9 g/t, 4m Composites) in the hanging wall of the historical Golden Pole
Mine; and
o material depth extensions on the Waihi West Lode to over 350 vertical
metres below surface with hole WHDD25006W2 returning 3.9m @ 29.5 g/t
(Inc 1.8m @ 60.8 g/t).
• Significant results include:
o 6.0m @ 21.1 g/t Inc. 0.7m @ 159.0 g/t Waihi East
o 3.9m @29.5 g/t Inc. 1.8m @ 60.8 g/t Waihi West
o 7.0m @ 14.5 g/t Inc. 5.0m @ 19.2 g/t Waihi West
o 4.1m @ 8.8 g/t Inc. 1.5m @ 15.7 g/t Waihi West
o 9.0m @ 3.5 g/t Waihi East

• The Waihi deposit is located three kilometres west of Ora Banda’s processing
plant and is being targeted as a potential third underground mine (in addition to
Riverina and Sand King) at the Davyhurst Project.
• A number of highly prospective exploration targets will be tested in addition to
extensions of known mineralisation with the remaining 36 holes in the program.

 

 

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Ora Banda’s Managing Director, Luke Creagh, said:

“These results are nothing short of outstanding as we continue to expand the high-grade potential of the Waihi deposit, which is located only 3km from the Davyhurst processing plant.

“The high-grade and good widths combined with meaningful depth extensions continue to build the case for Waihi as a third underground mine on the Davyhurst Project”
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The full news release can be viewed HERE

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