- Ora Banda has received additional Riverina Underground assay results from the recently completed diamond drilling program.
- OBM is continuing with the Underground mineral resource update, which shall be used for mining studies.
- OBM has planned further exploration work to be undertaken towards the end of the current year.
ASX-listed gold producer Ora Banda Mining Limited (ASX:OBM) has been exploring various deposits throughout its fully owned Davyhurst Gol Project (DGP).
These exploration efforts of the Company have returned significantly encouraging results for continuing the work across landholding.
OBM receives significant results
Lately, OBM has received additional Riverina Underground assay results from the recently concluded diamond drilling program and follow the previously declared drilling results in March 2021.
The diamond drilling program included 18 holes over 3,460 metres and targeted infill and extensions to the existing Underground mineral resource at the Riverina deposit. The present Underground mineral resource stands at 1,008,000 tonnes @ 5.6 g/t for 183,000 ounces.
OBM is continuing with a Mineral Resource Estimate (MRE) for the underground and shall include these results in the MRE. The MRE shall assist OBM in mining studies as the Company aims to publish a maiden Riverina Underground Ore Reserve soon afterward.
Source: OBM Announcement 02/08/21
Results indicate further potential
The drilling program included diamond drilling from the surface and successfully targeted some upgrades to the resource classification and the down plunge mineralisation extensions to the south.
The North Shoot (as shown in the image below) continues to be a high priority exploration target for the Company and shall be drill tested in the coming times.
JUNE QUARTER UPDATE: Ora Banda (ASX:OBM) reports rocking June quarter results
Long Section A–A’ showing high-grade shoots & recent underground mining area (Source: OBM Announcement 02/08/21)
With 1.4m @ 18.1 g/t from 281.6m intersected from hole RVDD21004B and 2.8m @ 21.2 g/t from 253.7m intersected from hole RVDD21007A. OBM believes that there is a possibility that the hole RVRD210045, in reality, may have terminated, whereas the intersection of 1m @ 2.5g/t is a hanging wall lode. It also believes that the main lode is still untested in this situation
Out of all the holes, RVDD21004B and RVDD21007A are the deepest confirmed drill intercepts on the Main lodes of the high-grade Central shoot.
Long Section showing recent Riverina Underground drilling on Central and South Shoots (Source: OBM Announcement 02/08/21)
In conclusion, the north shoot, which OBM plans to drill, represents a major exploration opportunity for the Company, along with the lately drilled South and Central shoots. OBM has planned another drilling to be undertaken towards the end of the current year with an aim to enhance the extent in the mineral resource.
The OBM stock was noted at AU$0.145, up by 7.407%, on 2 August 2021.