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Ora Banda Mining boosts Davyhurst resource to 2.13 million ounces with maiden Callion underground estimate

The new underground resource at Callion results from recent drilling that targeted the Callion Main Lode below the A$2,400/ounce optimised open pit resource shell.

Ora Banda Mining Ltd - Ora Banda Mining increases Davyhurst Gold Project resource to more than 2 million ounces
Recent drilling by Ora Banda has focused on defining additional underground resources

Ora Banda Mining Ltd (ASX:OBM) has increased the total gold resource at Davyhurst Gold Project to 2.13 million ounces after establishing a maiden underground mineral resource at Callion.

The new underground Callion resource is 411,000 tonnes at 5.8 g/t for 77,000 ounces which increases the total Callion resource by 72% to 680,000 tonnes at 4.9 g/t for 107,000 ounces.

This new underground resource is based on results from recent drilling that targeted the Callion Main Lode below the A$2,400/oz optimised open pit resource shell.

Ora Banda’s total mineral resource is now 23.7 million tonnes at 2.8 g/t for 2.13 million ounces.

“Potential” for higher-grade underground mine

Managing director David Quinlivan said: “This update completes the resource estimation process for the imminent DFS.

“The deeper, high-grade drilling results received to date from Callion indicate there is significant potential for a lower tonnage, higher grade underground mine and we continue to evaluate this opportunity as we believe it could make a significant contribution to the larger Davyhurst Gold Project.”

Callion mineral resource statement. 

Potential to expand resource

Historically, the Callion main lode has been the focus of underground mining, with access initially through shafts, followed by decline development in the late 1980s.

Ore development and production stoping are evident over six levels and extend to a maximum vertical depth of 250 metres below surface.

Gold mineralisation at Callion plunges moderately to the south and has been defined by drilling to depths of approximately 450 metres below surface.

Recent drilling by Ora Banda has focused on defining additional underground resources proximal to and above the base of existing workings.

The company believes that solid results from deeper drilling also indicate good potential remains to expand the resource below the existing mine workings.

Ora Banda mineral resource statement.

Quick facts: Ora Banda Mining Ltd

Price: 0.265 AUD

ASX:OBM
Market: ASX
Market Cap: $190.57 m
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