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- Gold explorer Ora Banda Mining (OBM) has reported a maiden mineral resource of 43,000 ounces of the precious metal at its Riverina South Project
- Riverina South is located near Ora Banda’s planned Riverina Open Pit, which is part of the Davyhurst Gold Project
- The resource estimate follows a recently completed reverse circulation (RC) drilling program at the Riverina South Extension and British Lion prospects
- Infill and extensional drilling program is currently being planned for Riverina South
- On market close, Ora Banda is up 2.78 per cent and is trading for 37 cents per share
Gold explorer Ora Banda Mining (OBM) has reported a maiden mineral resource of 43,000 ounces of the precious metal at its Riverina South Project.
Riverina South Project included both the Riverina South Extension and the British Lion prospects, located south of Ora Banda’s planned Riverina Open Pit, which is part of the Davyhurst Gold Project.
The Riverina Open Pit has ore reserves of 1.4 million tonnes at 1.8g/t for 81,000 gold ounces. The open pit is expected to commence in October.
The maiden mineral resource estimate for Riverina South Project is 650,000 tonnes at 2.1g/t for 43,000 ounces, which includes both open pit and underground components.
This resource estimate follows a recently completed reverse circulation (RC) drilling program at the Riverina South Extension and British Lion prospects. The program included 101 holes for 10,983 metres.
Ora Banda completed phase two of this drilling program in August.
Managing Director, David Quinlivan, is pleased to deliver this resource estimate for Riverina South.
“This area has been targeted as part of our ongoing resource replacement and growth strategy due to its high prospectivity and close proximity to the main
Riverina mining area,”David said.
“This is the first step in increasing the potential mine life at Riverina and our
program is to now continue with an upgrade to the resource classification and ultimately toward defining the potential of this area to add to the Riverina ore reserve base,” he added.
Currently, an infill and extensional drilling program is being planned for Riverina South.
On market close, Ora Banda is up 2.78 per cent and is trading for 37 cents per share.
