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Ora Banda hits more high-grade gold at Callion

Ora Banda Mining has continued to unearth high-grade results from drilling at its Callion gold deposit east of Kalgoorlie in Western Australia. In the latest round of drilling, intercepts from underground mining targets below the current pit floor have returned mineralisation in excess of 20 grams per tonne gold.

The Callion deposit lies within Ora Banda’s Davyhurst project that is located only 13 km South West of the Davyhurst mill, within the Eastern Goldfields of Western Australia.

Historical open pit and underground mining operations at Callion produced in excess of 91,000 ounces of gold at an average grade of over 10 grams per tonne Gold.

Diamond and RC drilling into the newly discovered Callion underground target continues to return impressive intercepts of high-grade gold mineralisation including 8 metres at 20.24 grams per tonne and 8 metres at 16.39 grams per tonne. These results will likely further bolster both the tonnage and grade for the Company’s pending resource upgrade in the coming months.

Ora Banda Mining Managing Director, David Quinlivan said: “…. these results now allow us to move forward with the progression of the Callion Mineral Resource update. Pleasingly, the high-grade nature of this deposit continues to shine through.”

The company said that the conceptual development plan for its Callion deposit includes an open pit cut back to re-establish underground access and rehabilitating the existing underground mine development to extract high-grade ore zones within the upper levels of the mine followed by the development and extraction of new high-grade areas below the existing mine workings.

Ora Banda Mining boasts over 1.85 million ounces of gold in its resource inventory for the Davyhurst project with an upgraded resource for Callion due in the coming months set to impact that number as the company hurtles headlong towards production.

 

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Substantial shareholders as published in the annual report.
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Total Shareholder Return as at 31/03/20

1 year TSR5 year TSR
280thOra Banda Mining-9%-19%
430thMatsa Resources-31%-10%
665thPeninsula Energy-61%-30%
775thTriangle Energy Global-77%-12%
824thJupiter Energy-89%-57%
669 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Share Transactions

28/02/20
$33k Bought
21/02/20
$85k Bought
21/02/20
$33k Bought
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Revenue

47th↑Ora Banda Mining$38.7m
58th↓Triangle Energy Global$13.3m
59th↑Matsa Resources$12.2m
61st↓Peninsula Energy$9.5m
62nd↑Jupiter Energy$9.0m
478 listed resources companies ranked by revenue.
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