- Ora Banda Mining has received another batch of results from its Waihi resource definition drilling program
- Drilling has been focused on outlining and upgrading an open pit mineral resource
- Results grading up to 13 grammes per tonne of gold were located
- Ora Banda’s share price is up 5.88 per cent this morning with shares trading for 18 cents each
Ora Banda Mining has received another batch of results from its Waihi resource definition drilling program.
Both reverse circulation (RC) and diamond drilling (DD) operations have been focused on the Waihi deposit with solid progress achieved.
Drilling has been focused on outlining and upgrading an optimal open pit mineral resource with potential for further resource extensions at depth.
A total of 3899 RC metres and 4234 DD metres, for a total of 8133 metres, has been completed to date at Waihi from a total planned program of 9845 metres.
The more recent drilling continues to infill and extend early results intersected the Waihi and Homeward Bound ore shoots at depth down plunge of the existing open pit resources.
These results include 5 metres at 19.2g/t from 38 metres, 23 metres at 9.1g/t from 128 metres, and 6 metres at 4.7g/t from 57 metres.
A further 2500 Waihi samples are currently awaiting processing through the assay laboratory.
“The strength of the Waihi drilling results to date continue to impress,” Managing Director David Quinlivan said.
“Our drilling program at Waihi continues and we look forward to the next round of results from this program,” he added.
The Waihi Complex consists of the Waihi, Homeward Bound and Golden Pole deposits with a mineral resource of 914,000 tonnes at 2.4 grams per tonne for 71,000 ounces.
Waihi South and Golden Pole were first mined in the early 1900s as high grade underground mines to a maximum depth of 190 metres.
Golden Mile produced approximately 81,000 tonnes at 29.6 grams per tonne for 77,000 ounces.
A consultant structural geologist has recently undertaken a detailed review of Waihi which included examining newly collected core samples.
This input has greatly assisted with the ongoing development and achievement of a structurally dominated mineralisation model.
This work remains the ongoing focus for Ora Banda’s geologists involved at Waihi as the resource definition drilling program progresses.
Further exploration opportunities for this deposit are continuing to be promoted and considered.
Ora Banda’s share price is currently up 5.88 per cent with shares trading for 18 cents apiece at 11:24 am AEDT.