- Ora Banda Mining has finished a drilling program at the Riverina gold project in Western Australia
- Drill results show the project has open pit and underground mine potential
- High-gold grades up to nearly 15 grams per tonne at three metres were found
- An updated resource estimate is expected to be complete next month
- Ora Banda’s share price remains flat today, currently sitting at 16 cents per share
Ora Banda Mining has completed its final drilling program at the Riverina gold project in Western Australia.
According to the company, the drill campaign was a success and revealed the potential for an open pit and underground mine at the project.
“The Phase 1 drilling has provided us with a greater geological understanding of the Riverina deposit and how this might translate into open pit mining,” Managing Director David Quinlivan said.
Gold grades up to 14.9 grams per tonne were identified from three metres, demonstrating mineralisation from a shallow depth.
The Riverina deposit is consistently mineralised with high-grade intercepts and broader low-grade areas. According the the company this is said to lend itself for “excellent mining opportunity”.
Results collected from the drilling are currently being tested to determine a resource definition, with a resource estimate expected to be completed next month.
“We look forward to delivering the resource upgrade in the near future,” David said.
Ora Banda advised the market it remains well funded to continue its “aggressive drilling program” at the project.
Ora Banda’s share price has remained flat today, currently sitting at 16 cents apiece, as of 12:43 pm AEST.