Ora Banda Mining (ASX:OBM) - Managing Director, David Quinlivan
Managing Director, David Quinlivan
Source: Bulls N’Bears
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  • Ora Banda Mining (OBM) has received further results from the Riverina South and Riverina Underground deposits in Western Australia
  • Drilling at Riverina South will aim to upgrade the inferred mineral resource to indicated
  • Work began in mid-January, and Ora Banda expects to wrap up by mid-March
  • Drilling at Riverina Underground will upgrade and potentially extend the current mineral resource of 728,000 tonnes
  • Both reverse circulation and diamond drilling will be undertaken at main lodes, which were last mined in the 1980s
  • Ora Banda is up 6.12 per cent and shares are trading at 26 cents

Ora Banda Mining (OBM) has received further results from the Riverina South and Riverina Underground deposits in Western Australia.

Riverina South

Drilling at Riverina South will aim to upgrade the inferred mineral resource of 650,000 tonnes at 2.1g/t gold for 43,000 ounces to indicated.

Work has identified a one-kilometre-long highly prospective strike extension immediately south of the main mining area.

Best results to date include 10 metres at 10.8g/t gold from 80 metres including six metres at 17.3g/t gold, and eight metres at 9.9g/t gold from 69 metres including six metres at 13g/t gold.

Drilling began in mid-January, and Ora Banda will aim to wrap it up by mid-March.

This current drilling program at Riverina South is the third phase to occur and follows on from the phase two work which created the mineral resource.

Riverina Underground

Drilling at Riverina Underground hopes to upgrade and potentially extend the current mineral resource of 728,000 tonnes at 5.9g/t gold for 139,000 ounces.

Both reverse circulation (RC) and diamond drilling will be undertaken at main lodes, which were last mined in the 1980s.

The main lodes are two sub-vertical mineralised shears which span more than one kilometre in length and more than 250 metres in depth.

Best results returned include two metres at 10.9g/t gold from 126 metres, six metres at 10.1g/t gold from 96 metres and 14 metres at 6.6g/t gold from 148 metres.

“These results continue to provide a solid basis for significant open pit and underground mineral resource upgrades at Riverina South,” Managing Director David Quinlivan commented.

“We accordingly have increased confidence that Riverina South has the potential to deliver both a substantial extension to current open pit mining operations and a new underground mining operation at Riverina,” he said.

“Numerous highly prospective areas remain to be tested at Riverina and we look forward to the ongoing exploration efforts at Riverina delivering exciting results into the future,” he added.

Ora Banda is up 6.12 per cent and shares are trading at 26 cents at 1:55 pm AEDT.

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