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Ora Banda Mining (ASX:OBM) - Managing Director, David Quinlivan
Managing Director, David Quinlivan
Source: HotCopper
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  • Ora Banda Mining (OBM) has received encouraging results from ongoing reverse circulation (RC) and diamond drilling programs
  • Results have come from the Flame and Young Australian prospects, as well as the Golden Eagle deposit
  • The RC program is now continuing and is focused at the Mt Ida and Riverina South deposits
  • Ora Banda is up a steady 15 per cent and shares are trading for 23 cents each

Ora Banda Mining (OBM) has received encouraging results from ongoing reverse circulation (RC) and diamond drilling programs.

The regional RC drilling program focused on testing aspects of the Mulline and Golden Lode mineralised corridors while the diamond drilling focused on the down-plunge extensions to the Golden Eagle underground mine.

Results have come from multiple prospects, including Flame and Young Australian, as well as Golden Eagle.

“The company has completed more than 47,000 metres of drilling since commencing in June 2019, a vast majority of which has been committed to resource definition drilling,” Managing Director David Quinlivan said.

“These results represent the first to come from our ongoing regional exploration programs and they provide an exciting insight into the potential prospectivity of the tenement package and we look forward to continued success as the drilling programs progress,” he added.

Flame prospect

The Flame prospect, which is part of the Lady Ida Project, was first defined by surface geochemical testing in 2005.

This drilling returned an anomalous intersection of three metres at 1.27g/t gold.

The ongoing RC drilling consisted of two holes in the same area where the anomalous intercept came from and intersected a wide zone of quartz veining and alteration.

A number of significant intercepts were returned including two metres at 19.22g/t gold, three metres at 8.19g/t gold, and nine metres at 5.53g/t gold.

Young Australian prospect

The Young Australian prospect is situated within the central part of the Mulline gold corridor, which is located in the northern part of Ora Banda’s Davyhurst Gold Project.

Recent drilling at Young Australian intersected multiple zones of quartz-sulphide veining and biotite-chlorite-sulphide alteration.

Results include four metres at 10.78g/t gold from 48 metres, four metres at 6.18g/t gold from 36 metres, and four metres at 3.82g/t gold from 137 metres.

Golden Eagle

Between December 2019 and March 2020, eight RC holes, for 2998 metres, were completed along strike of the Golden Eagle resource and targeted down-plunge extensions of the Golden Eagle underground mine.

Significant results from this program include 2.1 metres at 12.9g/t gold from 350.9 metres, 2.3 metres at 7.5g/t gold from 343.2 meters, and two metres at 6.5g/t gold from 250 metres.

The regional RC program is now continuing and is focused at the Mt Ida and Riverina South deposits.

Ora Banda is up a steady 15 per cent and shares are trading for 23 cents each at 1:26 pm AEST.

OBM by the numbers
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