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Ora Banda Mining receives strong gold results from drilling at Riverina South

Initial open-pit mining at Riverina is scheduled to commence in quarter four of 2020.

Ora Banda Mining Ltd - Ora Banda Mining reports strong results from RC drilling at Riverina South
Resource modelling is in progress

Ora Banda Mining Ltd (ASX:OBM) has received further strong high-grade results of up to 12 metres at 6.4 g/t from 56 metres in reverse circulation (RC) drilling at Riverina South deposit of the Davyhurst Project in Western Australia.

The results are from the completed phase two RC drilling program of 68 holes for 7,338 metres and have confirmed an extension to the Riverina Main Lode mineralisation into the Riverina South area.

Mineralisation remains open along strike to the south and at depth and the company is preparing a maiden resource estimate scheduled for delivery next month.

“Solid grades returned”

Ora Banda managing director David Quinlivan said: “We are pleased to see consistent mineralisation and some solid grades returned from RC drilling immediately adjacent to the southern end of the open pit delineated in the DFS, and also at the British Lion prospect.”

Within the 12-metre intersection was 7 metres at 10.5 g/t and other strong results include:

  • 8 metres at 7.7 g/t from 16 metres, including 4 metres at 14.5 g/t;
  • 13 metres at 3.2 g/t from 106 metres;
  • 10 metres at 4.1 g/t from 115 metres, including 2 metres at 14.3 g/t;
  • 10 metres at 3.9 g/t from 83 metres;
  • 12 metres at 3 g/t from 72 metres, including 5 metres at 5.9 g/t;
  • 7 metres at 4.6 g/t from 28 metres, including 3 metres at 9.9 g/t;
  • 2 metres at 15.9 g/t from 136 metres;
  • 6 metres at 3.6 g/t from 47 metres; and
  • 1-metre at 20.8 g/t from 77 metres.

The phase two drilling program was focused on mineralisation in the area adjoining and immediately to the south of the main Riverina open pit described in the recently completed definitive feasibility study (DFS).

Initial mining operations will target an ore reserve of 1.4 million tonnes at 1.8 g/t for 81,000 ounces in this area as well as the area around the British Lion Prospect at the southern end of the target corridor.

Riverina South overview plan showing proximity to the main mining area.

Resource modelling

Open-pit mining at Riverina is scheduled to begin in quarter four 2020 as two separate open pits, spanning an area of 1,000 x 350 metres, to a depth of up to 110 metres below the current ground surface.

The detailed mining study for the Riverina project area was incorporated into the Davyhurst Project DFS.

Future resource modelling and estimation work will determine the mining potential of the deposit.

Quinlivan said: “We look forward to better defining the mining potential in these areas and assessing how potential mining operations might be incorporated into our future mining plans for this area.”

Resource modelling is now underway with resource estimation work now scheduled to conclude in September 2020.

Quick facts: Ora Banda Mining Ltd

Price: 0.375 AUD

Market: ASX
Market Cap: $314.4 m

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