Ora Banda Mining (ASX:OBM) - Managing Director, David Quinlivan
Managing Director, David Quinlivan
Source: HotCopper
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Ora Banda Mining (OBM) has received up to 16.9g/t gold from the Sand King Deposit in Western Australia
  • The most recent drilling program at Sand King consisted of six reverse circulation and 10 diamond core holes
  • The aim of this drilling was to confirm the lode positions, ore geometry and grade inputs
  • Ora Banda has ended the day with no change, with shares trading for 19.5 cents each

Ora Banda Mining (OBM) has received up to 16.9g/t gold from the Sand King Deposit in Western Australia.

Sand King is part of Ora Banda’s Siberia Project, which is located 37 kilometres southeast of the Davyhurst processing plant.

Historical production from 1897 to 1930 was spread out over numerous areas and modern exploration has focused on the four open pits of Sand King, Palmerston-Camperdown, Bewick-Moreing, and Missouri.

Of these four Sand King is the best, having mined approximately 747,000 tonnes at 4g/t gold for 88,000 ounces between 1980 and 1991.

Sand King’s open-pit mining reserve estimate sits at 1.1 million tonnes at a grade of 2.6g/t gold for 93,000 ounces.

The most recent drilling program at Sand King consisted of six reverse circulation and 10 diamond core holes.

The aim of this drilling was to confirm the lode positions, ore geometry and grade inputs.

This program returned high-grade results such as five metres at 13.7g/t gold from 79 metres including four metres at 16.9g/t gold, and 4.5 metres at 10.4g/t gold from 73 metres.

“It is pleasing to see that they survey and assay results returned from this drill program at Sand King were largely consistent with the pre-drilling expectations of our technical team in terms of both grade and geometry,” Managing Director David Quinlivan commented.

“This outcome has strengthened our confidence in the viability of Sand King as a future open-pit gold mine,” he said.

Ora Banda has ended the day with no change, with shares trading for 19.5 cents each in a $114.5 million market cap.

OBM by the numbers
More From The Market Online

Provident Aurum’s off-market bid sends Sihayo shares soaring

Small-cap mineral and gold explorer, Sihayo Gold (ASX:SIH) shares have soared, on news that the company…

It’s hard to imagine a world without a mining company called Anglo American

Growing up in South Africa it seemed inconceivable that Anglo American, a mining colossus at its zenith…
The Market Online Video

Geology is King: Sun Silver says Maverick Springs will outshine high-grade Australian mines

Sun Silver Ltd (ASX:SS1) is seeking gold, silver and pathfinder elements at their Maverick Springs project…

Viridis’ Brazilian holdings good for both light and heavy REEs, results beyond 27K ppm

Viridis Mining and Minerals (ASX: VMM) has remained steady on the market today on grades topping 27,000 parts per million from its rare