Total
0
Shares
Ora Banda Mining (ASX:OBM) - Managing Director, David Quinlivan
Managing Director, David Quinlivan
Source: HotCopper
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ora Banda Mining (OBM) has received the first results from its initial drilling program at the Riverina South deposit, which is part of the Davyhurst Project in Western Australia
  • The program tested a highly prospective strike extension that has been subject to recent exploration works
  • Approximately 32 holes were drilled and results grading up to 15.8 grammes per tonne gold were returned
  • A follow-up program is now planned for May to outline new targets for future drilling
  • Ora Banda is up a slight 3.45 per cent and shares are trading for 15 cents each

Ora Banda Mining (OBM) has received the first results from its initial drilling program at the Riverina South deposit.

The Riverina South deposit is one of the five priority mining targets at the Davyhurst Project, which is located 120 kilometres northwest of Kalgoorlie in Western Australia.

The deposit has a current mineral resource of 3.8 million tonnes at 2.3g/t gold for 280,000 ounces.

This initial program targeted a one kilometre, highly prospective strike extension that has been subject to recent developmental works.

Approximately 32 holes, for 3639 metres, were drilled and results have been for all of them.

Significant results include 13 metres at 4.59g/t gold from 63 metres including three metres at 10.1g/t gold, and 13 metres at 3.23g/t gold from 37 metres including two metres at 15.8g/t gold.

These results have extended the mining potential of Riverina to the south and enhanced its prospectivity.

A follow-up program is now planned for mid-May to outline new targets for future drilling and to see if, and how, the mineralisation extends and continues.

“These initial wide-spaced drilling results are an exciting jumping point for our ongoing search for new, near-surface, oxide gold resources,” Managing Director David Quinlivan commented.

“We look forward to commencing the phase 2 drilling program in the near future,” he added.

Ora Banda is up a slight 3.45 per cent and shares are trading for 15 cents each at 1:10 pm AEST.

OBM by the numbers
More From The Market Herald

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.

" Alkane Resources (ASX:ALK) hits further gold at Molong

Alkane Resources (ALK) has received the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales.
The Market Herald Video

" De Grey Mining (ASX:DEG) raises $125m for Mallina

De Grey Mining (DEG) has received firm commitments to raise $125 million for its Mallina Gold Project.