- Ora Banda Mining (OBM) extends the mineralisation at its Riverina project in Western Australia ahead of a planned mineral resource update
- The latest assay results from phase one drilling work include two metres at 49.8 g/t gold at the Main Lode East and four metres at 39 g/t gold at the Murchison Lode
- All assay results to date will be incorporated in an updated mineral resource estimate due to be released later this month
- The Riverina mineralised system remains open at depth on multiple loads, and OBM is planning phase two drilling to further expand the mineralisation envelope in March
- Ora Banda Mining shares are up 7.14 per cent, trading at 10.5 cents at 11:39 am AEDT
Ora Banda Mining (OBM) has recorded extensions to the mineralisation at its Riverina project in Western Australia ahead of a planned mineral resource update.
The latest assay results from the company’s phase one drilling program included two metres at 49.8 grams per tonne (g/t) gold at the Main Lode East and four metres at 39 g/t gold at the Murchison Lode.
Ora Banda’s Managing Director, Luke Creagh, said the company continued to be impressed with the results from the initial phase of drilling.
“Each set of results has improved and extended the mineralisation, as well as giving us a greater understanding of the potential as a high-grade and multi-lode underground mine,” Mr Creagh said.
“We have achieved outstanding results from Riverina, and we consider this is early days in a potentially big system.”
All assay results to date will be incorporated into an updated mineral resource estimate due to be released later this month.
Mr Creagh said upon the delivery of the resource update, Ora Banda would be placed in a position to progress towards an investment decision for the project.
The Riverina mineralised system remains open at depth on multiple loads, and the company is gearing up for a phase two drilling program to begin in March, aimed at further expanding the mineralisation envelope.
Ora Banda Mining shares were up 7.14 per cent and trading at 10.5 cents at 11:39 am AEDT.