Ora Banda believes the latest Little Gem intersections pave the way for new possibilities at the Riverina operations. Pic: Getty Images
Little Gem discovery shows exploration upside for booming gold miner Ora Banda
Mining
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- Drilling at Little Gem intersects two broad high-grade lodes
- Assays from three remaining holes are expected by the end of April
- A 16-hole follow up program is in the works to test more than7km of prospective strike
Special Report: A five-hole diamond drilling program at Little Gem has confirmed the target in the Riverina project as a ‘greenfields discovery’ with two wide, high-grade lodes intersected 400m below surface.
The latest intersections shed light on a new 4.7km target zone that runs all the way from the Sunraysia deposit to British Lion and is more than double the current strike length of the known Riverina orebody.
It outlines the massive exploration upside at Riverina, which Ora Banda (ASX:OBM) has already turned into the centrepiece of its now 100,000ozpa plus Davyhurst gold project.
These five holes have confirmed the carbonate host units over 1600m of strike with the deepest hole (LGDD25005) returning 22.7m at 5g/t gold from 481.3m including 14.5m at 6.8g/t, and 10.9m at 6.4g/t gold from 545.7m.
Assays were also returned for LGDD25001, which tested 250m up dip of LGDD25005, and returned 2.6m at 2.0g/t from 157.22m, 4m at 4.1g/t and 2.1m at 3.5g/t gold.
Although assays from three other holes are pending, Ora Banda (ASX:OBM) believes the geological evidence suggests the carbonate host to the high-grade gold mineralisation is lithologically derived, as this mineralisation style is also evident at Sunraysia.
“These outstanding results at Little Gem have been achieved through exceptional geological work, done well, and is exactly how deposits should be discovered,” OBM managing director Luke Creagh said.
“Consequently, we’ve committed to a priority 16-hole starter drill program, which will test the carbonate horizons along the 4.7km strike and down to a depth of 400m.
“We are very much looking forward to seeing what this program delivers.”
$41m drill program in 2025
The original Little Gem diamond hole (LGDD24001) identified high-grade gold mineralisation (4.7m at 7.4g/t gold) associated with carbonate units.
That drilling was carried out as part of the WA Government’s long-running Exploration Incentive Scheme, which provides co-funding for exploration drilling.
Ora Banda’s geologists are developing and evolving their exploration model but are beginning to realise the tenor of Little Gem’s mineralisation and its multi-lode structure exemplifies the highly prospective nature of the Riverina trend.
The gold producer plans to spend up to $41m on exploration and resource definition drilling at Davyhurst this year after the board approved the additional spend to rapidly advance drill programs and support further growth.
“With the potential value creation that extending and expanding Riverina presents, the additional exploration and capital spend approved by the Board sets Ora Banda on the path of rapidly realising further value from the drill bit,” Creagh said.
What now?
Ora Banda has committed to a 16-hole diamond drilling program that will test the prospective carbonate horizons over 4.7km and down to a depth of 400m.
The program will be phased, with the first phase testing the 1.6km strike of Little Gem along with potential depth extensions below the Sunraysia deposit.
It is expected that a total of 7300m of drilling will be drilled over 10 weeks, with a further four weeks for assay returns.
This article was developed in collaboration with Ora Banda Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
