Ora Banda Mining Ltd (ASX:OBM) has made significant strides in enhancing and expanding the mineralised system at Riverina Project in Western Australia, delivering more high-grade gold hits from the final round of a phase 1 program at the underground mine.
Standout assays include:
- 3.8 metres at 20.3 g/t gold, including 2.6 metres at 28.5 g/t;
- 3.6 metres at 6.1 g/t, including 2.6 metres at 8.0 g/t;
- 3.1 metres at 6.7 g/t, including 1.4 metres at 14.3 g/t; and
- 4.4 metres at 22.9 g/t, including 0.4 metres at 243 g/t.
Furthermore, Federal Flag on the Round Dam trend is demonstrating the potential for gold as well as lithium.
With the phase two program underway at Riverina, OraBanda’s exploration team is now focused on uncovering the next potential high-grade underground mine, fuelled by the encouraging results obtained from Missouri and Federal Flag.
Next potential high-grade underground mine
OraBanda managing director Luke Creagh said: “The final round of assay results for phase 1 Riverina underground drilling continues to improve and extend the Riverina mineralised system and we are looking forward to further results with the phase 2 program underway.
“The significant intersection on the Reggies Lode of 3.6 metres at 11.0 g/t is exciting, as this is an emerging lode located east of Murchison with no deep drilling.
“This lode would be accessed off the same decline as Main and Murchison lodes, demonstrating further potential of resource and production growth once we commence targeting this lode with underground drilling in FY24.
“With the commencement of the Riverina underground mine in May, our exploration team is now focused on finding the next potential high-grade underground mine, with encouraging results from both Missouri and Federal Flag.
“We have drilled two holes at Missouri, intersecting 2.0 metres at 7.0 g/t at a depth of about 350 metres. This is the deepest hole drilled to date and significantly enhances the search window and the underground potential of the deposit.”
Riverina UG Main Lode East long section
Forward plan
At Riverina, Reggie Lode is emerging as a key target for mineralisation extension with economic intersections near the surface from 17 metres, including, 3.6 metres at 11.0 g/t.
Meanwhile, Riverina Phase 2 RC pre-collars have been completed with diamond drilling kicking off the project.
Deep drilling under British Lion, targeting high-grade Riverina-style mineralisation, has commenced targeting a second underground mine.
At Missouri, follow-up drilling is planned to kick off in the June quarter.
Read more on Proactive Investors AU
