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Ora Banda Mining (ASX:OBM) has confirmed a new greenfields discovery at the Riverina Gold Camp after follow-up drilling at the Little Gem diamond hole where gold grading up to 7.4 grams per tonne over 4.7 metres had been found.
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Five more holes were drilled to test the mineralisation at the Western Australian-based Little Gem, which is marked by carbonate units brecciated by actinolite. These revealed carbonate host units continued over 1,600 metres, and 400 metres below the surface.
Two wide, high-grade lodes have been identified, with the first delineated by intercepts such as 22.7 metres at 5.0 grams per tonne, including 14.5 metres at 6.8 grams per tonne.
The second lode at Little Gem was indicated by intercepts like 10.9 metres at 6.4g/t, including 3.6 metres at 16.9g/t, including 0.95 metres at 55.9 g/t.
Ora Banda is enthused by what has been revealed by the mineralisation here, and its underlying connection to regional deposits. In particular, geological evidence suggests that the focal carbonate host is lithologically derived, which connects this mineralisation to the Sunraysia deposit around 4 kilometres away.
Managing director Luke Creagh said positive signs were abounding throughout the discovery. “These outstanding results at Little Gem have been achieved through exceptional geology work, done well, and [are] exactly how deposits should be discovered,” he said in the company’s market release today.
“These latest discovery intercepts… are landmark because they open our eyes to a new 4.7km long target zone that runs all the way from Sunraysia to British Lion.”
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“This is more than double the current strike length of the known Riverina orebody. Consequently, we’ve committed to a priority 16-hole starter drill program which will test the carbonate horizons along the 4.7km strike and down to a depth of 400m.”
Ora Banda has been trading at 95.5 cents this morning.
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