Ora Banda has reported some fresh results from drilling at its Riverina gold project in Western Australia which it says will augment the upcoming mineral resource estimate.

The Phase 1 drilling has continued to enhance the project’s underground mining potential, with results including:

  • 2m at 49.8 g/t;
  • 2m at 20.2 g/t (including 1.5m at 27.5g/t);
  • 3.6m at 10.4 g/t (including 0.5m at 74.0g/t);
  • 1.8m at 18.2g/t; and
  • 2.5m @ 12.1g/t.

The company says the results will be included in an updated Mineral Resource Estimate – to be announced this month.

The Riverina mineralised system remains open at depth on multiple lodes and Phase 2 diamond drilling is scheduled to recommence in March 2023.

Targeting an investment decision this year

“Each set of results has improved and extended the mineralisation, as well as giving us a greater understanding of the potential as a high- grade and multi-lode underground mine.” Ora Banda (ASX:OBM) MD Luke Creagh said.

“The next steps for us are to deliver the mineral resource update later this month, placing Ora Banda in a position to progress towards investment decision in this financial year.

“In addition to this, we are looking forward to commencing the Phase-2 program to expand the mineralisation envelope.

“The results from Riverina are testament to Ora Banda’s 3-Year Strategy to create value by targeting high-grade underground ore to enhance our production profile and reduce costs.

“We have achieved outstanding results from Riverina, and we consider this is early days in a potentially big system.”

 

 

 

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.

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