Riverina’s showing golden potential as a serious underground resource for Ora Banda
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Ora Banda has released further results from the recently completed diamond drilling program at its Riverina underground deposit in WA.
The 18-hole program targeted infill and extensions to the current underground mineral resource of 1.7 million tonnes at 5.6 g/t for 183,000 ounces.
Ora Banda (ASX:OBM) will include the new results in an updated mineral resource estimate (MRE) for the underground – which is currently in progress – and will be used for mining studies with the aim of publishing a maiden Riverina underground ore reserve.
“These strong results have the potential to deliver improved grade and confidence of the existing underground resource,” managing director Peter Nicholson said.
“The updated resource will provide a base case for mining studies which will look to demonstrate the underground mining potential at Riverina.
“Additional drilling is planned for later in the year to further increase the extent and confidence in the mineral resource.”
Notably, the mineralisation remains open to the south and at depth on three prospective high-grade shoots and the North Shoot is yet to be drill tested but remains a high priority exploration target.
The main Riverina deposit has a current mineral resource of 2.9 Mt at 3.2 g/t gold for 300,000 ounces and an open-pit reserve of 1.7 Mt at 1.6 g/t gold for 86,000 ounces.
Open pit mining commenced in October 2020 within a single pit with planned depth reaching around 110 metres below the current ground surface.
The main lodes are currently mined in the open pit; however, their continuity, grade and sub-vertical nature also make them amenable to underground mining methods.
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.