Join our daily newsletter At The Bell to receive exclusive market insights
Ora Banda Mining Ltd (ASX:ORB) is progressing development of its Sand King underground gold mine in WA’s Eastern Goldfields, with the first intersection of ore achieved only four months after establishing a portal there.
Multiple ore lodes were intersected in the first crosscut on the 315 Level, with this marking a milestone that keeps Ora Banda on target to deliver the company’s first stoping ore in the March 2025 quarter.
Following the latter stage, Ora Banda plans to reach steady state production of approximately 60,000 ounces per annum in the June quarter of that year.
With the portal established in August, Sand King’s underground development progression has been smooth, including good ground conditions with 427 decline metres and 835 development metres achieved to date.
Initial grade control drilling has confirmed multiple mineralised lodes per level, including high-grade lodes in addition to bulk tonnage opportunities.
Managing director Luke Creagh said the variables involved in this development continued to be impressive.
“Reaching first ore at the Sand King Underground mine is exciting, especially considering that this milestone has been achieved less than four months after establishing the portal, and 14 months after the first drill hole targeting underground was completed,” he said.
“The grade control and surface drilling has confirmed, enhanced and extended known mineralisation and we consider this to be at the early stages of unlocking the full potential of the Sand King mineralised system.”
Ora Banda has this morning been trading at 64.5 cents.
Join the discussion: See what HotCopper users are saying about Ora Banda and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
