Ora Banda Mining Ltd (ASX:OBM) has made progress in operations at the Davyhurst project in Western Australia, particularly at the Riverina site, as part of its ambitious ‘DRIVE to 100 Project’, which is targeting production of more than 100,000 ounces of gold by the 2025 financial year.
The company's focus is trained on efficient operations, infrastructure development and exploration initiatives to reach this target.
Key milestones met ahead of schedule
Ora Banda has successfully developed the first ore from the Riverina Underground Main Lode, an achievement which has taken place four weeks ahead of the Final Investment Decision (FID) schedule.
This development aligns with the block model predictions, showcasing ore locations and widths consistent with expectations. Notably, the Main Lode East (MLE) exhibits expected lode grades of 10 grams per tonne (g/t) and face grades of 4 g/t.
Grade control and extension drilling, which began underground in late September, continues to yield promising results. This progress is critical for the Riverina project – and it boosts the company’s confidence in the high-grade Main Lode system.
Several key infrastructure projects are on track for completion in the December quarter, including the primary pump station, a 4.5-metre diameter ventilation shaft, primary vent fan installation, primary power station and essential surface infrastructure.
Underground at Riverina showing the 4.5-metre diameter vent rise in the background and the cement pad poured as part of the primary fan installation.
Processing plant enhancement
The processing plant has undergone significant upgrades, with the installation of a new Terex 380 tertiary crusher and a refurbished secondary crusher. These improvements have enabled the plant to operate at its nameplate capacity of 1.2 million tonnes per annum (Mtpa) with 100% fresh rock feed.
In line with reducing open pit strip ratios, Ora Banda decreased its open pit mining fleet by around 35% in October. This reduction, especially in the Missouri open pit, has significantly lowered the company's cost profile.
Exploration progress
The Sand King underground exploration program, consisting of 33 holes, kicked off this month. This initiative follows the successful intersection of high-grade mineralisation in previous drilling efforts. The exploration focuses on understanding the shear zones and tension veins, crucial to the site's mineralisation.
Ora Banda Mining’s managing director Luke Creagh said: "Achieving these big milestones is a testament to the outstanding efforts of the team and further strengthens our business as we continue on the pathway to achieving over 100,000 ounces in FY25 and lowering unit costs.
“Intersecting first ore from Main Lode at Riverina ahead of schedule is an exciting moment, and as we ramp up production over the next six months, the high-grade ore from Riverina is a key driver of increasing our ounce profile and free cash flow.
“The improvements in the processing plant including the crusher upgrade cannot be understated as for the first time since commissioning we are achieving nameplate throughput of 1.2Mtpa at 100% of fresh rock feed.”
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