Ora Banda Mining (ASX: OBM) has announced promising results from its Phase 2 drilling program at the Little Gem prospect, part of its Davyhurst gold project in Western Australia. The drilling has expanded the multi-lode system to over 1 kilometre of strike, revealing high grades and significant widths. Ora Banda Mining is focused on gold production and exploration in the Davyhurst region of Western Australia. The company aims to grow its production base through strategic exploration and development projects.
The 16-hole diamond program tested prospective carbonate horizons at Little Gem and Sunraysia, reaching depths of up to 400 vertical metres below the surface. The program’s most notable assay returned 8.8 metres grading 6.3 grams per tonne at a depth of 320 metres. This intercept is located just 400 metres north of two high-grade intercepts from a previous Phase 1 campaign, which included 22.7 metres at 5g/t and 10.9 metres at 6.4g/t.
Ora Banda has modelled four defined lodes – Diamond, Ruby, Sapphire, and Tanzanite – with Diamond and Ruby identified as priority targets. A Phase 3 infill and extension campaign consisting of 38 holes is planned to further explore these lodes. The Diamond and Ruby lodes have a combined potential strike length exceeding 1,000 metres, and the system remains open at depth. Managing director Luke Creagh said the Phase 2 results affirm the potential of Little Gem as a large-scale, high-grade, multi-lode system.
In addition to the Little Gem exploration, Ora Banda reported that its new Sand King underground mine is performing in line with expectations, achieving a steady-state production run rate of 60,000 ounces per annum. The company also completed a seven-hole drilling program at the Waihi prospect, intersecting a new zone in the mineralised footwall with significant gold grades. Ora Banda ended June with $84.2 million cash at hand, despite investing $40.9 million during the quarter in various development and exploration activities.
