Ora Banda Mining Ltd (ASX:OBM) has received encouraging high-grade gold results in a regional program at Mulline and Golden Lode mineralised corridors around its Davyhurst project in WA’s eastern Goldfields.
Highlights from the Flame prospect at Golden Lode corridor include 2 metres at 19.22 g/t from 58 metres; 9 metres at 5.52 g/t from 64 metres, including 7 metres at 6.9 g/t; and 3 metres at 8.19 g/t from 80 metres.
The region around Davyhurst has been underexplored in the past.
Flame results encouraging
Ora Banda considers the results returned from Flame in the southern end of Golden Lode corridor as highly encouraging, demonstrating high grades over mineable widths in contiguous holes from surface.
These results are north of an historical 50-100 ppb gold-in-soil auger anomaly that has only been tested by shallow (20-30 metres deep), broad-spaced RAB drilling in the past.
Shares have been more than 17% higher to 23.5 cents intra-day, up from 9.7 cents at close on March 23.
Near mine diamond drilling revolved around the down-plunge extensions to the Golden Eagle underground mine and a single hole was drilled to examine the untested footwall sequence of the Missouri open pit deposit.
Other highlights from recent drilling include:
- 4.0 metres at 6.18 g/t from 36.0 metres at Young Australian;
- 4.0 metres at 10.78 g/t from 44.0 metres at Young Australian;
- 4.0 metres at 3.82 g/t from 137.0 metres at Young Australian;
- 5.3 metres at 3.46 g/t from 343.2 metres at Golden Eagle, including 2.3 metres at 7.5 g/t;
- 2.1 metres at 12.93 g/t from 350.9 metres at Golden Eagle;
- and 5.6 metres at 3.18 g/t from 207.4 metres at Golden Eagle.
More than 47,000 metres of drilling
Managing director David Quinlivan said: “The company has completed more than 47,000 metres of drilling since commencing in June 2019, a vast majority of which has been committed to resource definition drilling.
“These results represent the first to come from our ongoing regional exploration programs.
“They provide an exciting insight into the potential prospectivity of the tenement package and we look forward to continued success as the drilling programs progress.”
Young Australian prospect
The Young Australian prospect sits within the Mulline corridor, a 16-kilometre long x 2.5-kilometre wide, northeast-striking zone of highly anomalous gold-in-soils with numerous historical workings and more recent (1990s) shallow laterite open pits.
Two fences of RC holes, 400 metres apart were drilled to test the continuity of mineralisation recorded in old RAB holes to the north and south of one of the laterite pits.
Results identified potential coherent structures of economic-grade gold intersections in lower saprolite and fresh rock, under a veneer of transported cover.
Golden Eagle deposit
At Golden Eagle, eight diamond holes were drilled down plunge in the northern shoot of the deposit.
Results confirmed the continuation of economic-grade gold mineralisation for at least another 100 metres beyond the limit of the latest resource which recorded a total 393,000 tonnes at a higher grade of 3.9 g/t for 49,000 ounces of contained gold.
Regional program continuing at Mt Ida and Riverina South
The regional program is now continuing at the Mt Ida and Riverina South prospects.
Drilling at Mt Ida is the first program Ora Banda has undertaken on the main line of lode in this historical, high-grade mining centre.
Riverina South drilling will be the second phase, following up on intersections returned in the initial program on April 9, 2020, which included 13 metres at 4.59 g/t from 63 metres, including 3 metres at 10.1 g/t.