Ora Banda Mining (ASX: OBM)
Updated on its continued exploration success at the high-grade Riverina Gold Camp.
Following the initial success of the original Little Gem EIS diamond hole LGDD24001 which identified high grade gold mineralisation (4.7m @ 7.4g/t) Ora Banda has completed a further five-hole diamond program (1,849 metres).
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Ora Banda Mining Minesite
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| Ora Banda | ASX: OBM | |
| Stage | Production + development | |
| Metals | Gold | |
| Market cap | A$2 Billion @ A$1.04 | |
| Location | Western Australia | |
| Website | www.orabandamining.com.au |
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.Ora Banda MIning Announces
OUTSTANDING EXPLORATION RESULTS AT LITTLE GEM, CONFIRMS A GREENFIELDS DISCOVERY
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.
Following the initial success of the original Little Gem EIS diamond hole LGDD24001 which identified high grade gold mineralisation1 (4.7m @ 7.4g/t) associated with carbonate units brecciated by actinolite, Ora Banda has completed a further five-hole diamond program (1,849 metres).
These five holes have confirmed the presence of the carbonate host units over 1,600
metres of strike and down to 400 vertical metres below surface (mbs).
Highlights:
• Follow up drilling at Little Gem has intersected two wide, high-grade lodes 400
metres below surface in hole LGDD25005 as follows:
o 22.7m @ 5.0 g/t
• Inc . 14.5m @ 6.8 g/t
• Inc. 6.2m @ 10.8 g/t
o 10.9m @ 6.4g/t
• Inc. 3.6m @ 16.9g/t
• Inc. 0.95m @ 55.9 g/t
• Ora Banda has committed to an immediate 16-hole follow-up program to test over
4.7km’s of prospective strike from Little Gem through to Sunraysia.
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Ora Banda’s Managing Director, Luke Creagh, said:
“These outstanding results at Little Gem have been achieved through exceptional geology work, done well, and is exactly how deposits should be discovered.
“These latest discovery intercepts at Little Gem are landmark because they open our eyes to a new 4.7km long target zone that runs all the way from Sunraysia to British Lion.
“To put this into context, this is more than double the current strike length of the known Riverina orebody.
“Consequently, we’ve committed to a priority 16-hole starter drill program which will test the carbonate horizons along the 4.7km strike and down to a depth of 400m.
“We are very much looking forward to seeing what this program delivers.”
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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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