Ora Banda Mining (ASX:OBM)
Povided an update on its Riverina and Sand King underground mines which form part of the Davyhurst Gold Project and together are the centrepiece of the Company’s DRIVE TO 150 Project with an outlook annual production of 140,000oz to 160,000oz in FY26.
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| Ora Banda | ASX: OBM |
| Stage | Production + development |
| Metals | Gold |
| Market cap | A$1 Billion @ 58c |
| Location | Western Australia |
| Website | www.orabandamining.com.au |
ORA BANDA MINING DAVYHURST GOLD PROJECT UPDATE
Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its Riverina and Sand King underground mines which form part of the Davyhurst Gold Project and together are the centrepiece of the Company’s DRIVE TO 150 Project with an outlook annual production of 140,000oz to 160,000oz in FY26.
Portal established and mining commenced Jumbo boring at the face Underground survey markup OBM Leadership Team after 1st firing
At Riverina, mining has been progressing steadily and remains on schedule with stoping and face advancement rates in line with expectations.
Excellent Drill Intercepts Highlight Riverina’s High-Grade and Consistency
Sand King Portal Established and Mining Underway Riverina Underground Mine
• Latest infill drilling results from Riverina underground confirm the consistency and highgrade nature of the Riverina ore lodes
• Results from 122 holes intersected significant gold intercepts above 10 gram metres on 102 occasions and included 45 intercepts over 20 gram metres
• A second underground diamond rig is scheduled to start mid-September to accelerate
resource extension and exploration drilling
• Two surface exploration rigs are scheduled to start early in the December-Quarter to
explore for southern extensions and depth extensions (Figure 5)
• Mining at Riverina remains on track with development and stoping performance in line
with expectations (See Figures 2 to 4)
• Significant intercepts from grade control infill drilling continue to demonstrate the highgrade and consistent nature of the Riverina main lodes, including:
o 2.7m @ 65.9g/t Inc. 2.1m @ 85.6g/t o 5.4m @ 6.4 g/t
o 4.4m @ 22.1 g/t Inc. 2.8m @ 33.6 g/t o 1.5m @ 23.2 g/t
The mine also continues to be the focus of increased exploration as Ora Banda seeks to test mineralisation extensions to the south-west and north-east.
Latest infill drilling up to July 2024 has provided excellent results and confirm the consistency and high-grade nature of the Riverina ore lodes. The results from 122 holes intersected significant gold intercepts above 10 gram metres on 102 occasions and included 45 intercepts over 20 gram metres.
A second underground diamond rig is scheduled to start mid-September to accelerate resource extension and exploration drilling plus two surface exploration rigs are
scheduled to start early in the December-24 Quarter to explore for southern extensions and depth extensions.
Mining operations have commenced at the Sand King underground mine with the portal
established and mine development underway. The decline is advancing well in good ground conditions and recruitment of specialty management and technical staff is well on track.
At Sand King, first development ore is expected in the December-24 quarter and first stoping ore in the March-25 Quarter with steady state of 60k ozpa commencing in the June-25 Quarter.
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Ora Banda’s Managing Director, Luke Creagh, said:
“As mining and drilling progresses at Riverina, our confidence is growing that we are only at the very early stages in unlocking what is presenting as a large and high-grade system.
“The addition of a second underground diamond rig as well as two surface drill rigs in the coming months is an exciting catalyst for the next wave of drill results as we target material extensions to the current Riverina system.
“Commencing Sand King is also an exciting time for the Company, demonstrating commitment to our strategy and placing us on the path to deliver 140,000 to 160,000oz in FY26.”
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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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