Ora Banda spots five new gold targets at Greater Callion
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Ora Banda has identified five new targets at the Greater Callion area where exploration has been ongoing with a goal of finding another high-grade Callion-style gold deposit.
The historical Callion mine produced about 91,650oz of gold at an average grade of 10.2 grams per tonne (g/t) gold and has a remaining resource of 680,000t grading 4.9g/t for 107,000oz of contained gold.
Ora Banda Mining (ASX:OBM) notes that the new targets were identified through mapping and rock chip sampling with work continuing to further delineate the geological and structural settings of these gold occurrences to aid drill program design.
These bedrock targets will be tested when a reverse circulation rig arrives on site early in 2023.
First pass aircore drilling has started northwest of the main Callion deposit, which is located 14km southwest of the 1.2Mtpa Davyhurst processing plant.
This and further targets in the Greater Callion area will be tested for the near surface expression of any potential gold mineralisation in these areas.
“Callion is a well-known mine in the Eastern Goldfields due to the relatively high grade tenor of the ore lodes. Discovering a similar style deposit in this area is a really attractive target for us,” interim chief executive officer Andrew Czerw says.
“The fact that it is located so close to our Davyhurst process plant and because the surrounding area has received such limited exploration due to its disjointed ownership history, it was a no brainer for us to zero in on the prospects surrounding the Callion mine.
“The Greater Callion area will remain a high priority focus for life extension past the current reset plan.”
Greater Callion became the focus of renewed exploration by the company last year with a large rock chip and mapping program completed between December 2021 and January 2022.
Rock chip sampling focused on known old workings to help define controls on the gold mineralisation and possible multi-element signatures from the mineralisation zone.
This returned encouraging results that indicate that there are several high grade, small to medium sized targets to be explored in the area that have not been drill tested or ineffectively tested in the past.
Notably rock chip results include:
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.