Ora Banda Mining has put some solid muscle into the company’s Davyhurst gold growth story, 120 kilometres northeast of Kalgoorlie in WA, after delivering a hefty increase in both mineral resources and ore reserves across its expanding Western Australian portfolio.
The company says its total combined mineral resources at the production hub have climbed 75 per cent since July last year to a hefty 56.5 million tonnes grading two grams per tonne (g/t) gold for 3.69 million ounces.
Alongside the impressive hike in its resource numbers, the company’s ore reserves have leapt a whopping 159 per cent, net of mining depletion, to 8.4Mt at 2.3g/t for 610,000 ounces.
Put simply, “net of mining depletion” means ore already extracted and processed since the last statement has been subtracted, so the new reserve figure reflects what remains in the ground to be mined, subject to commodity price and other commercial factors.
The overall result gives Ora Banda five principal mining sources across the project – Waihi underground, Waihi open pit, Round Dam open pit, Sand King underground and Riverina underground, combined with low-grade in-situ material and stockpiles.
Round Dam was the standout mover, with its open pit resource rising to 25.4Mt at 1.6g/t gold for 1.33 million ounces, after previously sitting at 125,000 ounces, a massive hike of 964 per cent. The deposit also delivered a maiden open pit reserve of 3.67Mt at 1.9g/t gold for 223,000 ounces, providing a fresh baseload mining option just 15 kilometres south of the Davyhurst mill.
Additionally, the Waihi ground delivered a solid punch, with its combined open pit and underground resource rising 114 per cent to 7.3Mt at 2.1g/t gold for 482,000 ounces. The Waihi underground reserve now sits at 825,000 tonnes at 3.8g/t gold for 101,000 ounces, including 254,000t at 5g/t gold for 41,000 ounces from the higher-grade Golden Pole zone.
The company’s existing underground gold engines also maintained the drive. Sand King’s underground reserve increased by 49 per cent to 1.24Mt at 3.2g/t gold for 125,000 ounces, while Riverina’s underground reserve rose to 844,000t at 3.7g/t gold for 100,000 ounces.
Ora Banda Mining managing director Luke Creagh said: “This is a step-change result for Ora Banda. In less than 12 months, our drilling investment has delivered a 75% increase in Mineral Resources and a 159% increase in Ore Reserves, materially strengthening the production platform at Davyhurst.”
Ora Banda says it spent about $75 million on drilling in FY26, completing more than 310,000 metres of reverse circulation and diamond core drilling.
Not wanting to rest on its laurels, the company says it plans to maintain pressure on the gold gods, with another 340,000m of drilling planned for FY27, excluding grade control work, with the drill bits aimed at Round Dam, Little Gem and Sand King. A maiden Little Gem mineral resource is also expected in the first half of FY27.
The resources and reserves update lands after Ora Banda last month signed a $233 million EPC contract with GR Engineering Services for its new 3-million-tonne-per-year Davyhurst processing plant. The company had previously flagged the expansion as part of its “Drive to 300” strategy, designed to organically build its combined operations towards a more than 300,000-ounce-a-year gold production profile.
With a bigger resource base, a much fatter reserve book and a second mill on the way, Ora Banda looks to be adding the sort of inventory depth that can turn what is already an impressive gold discovery run into an operation with serious staying power.
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By Doug Bright
