Thick high-grade hits expand Ora Banda’s near mine gold finds in WA

Ora Banda Mining has drilled into fresh high-grade gold at its Little Gem and Riverina Deeps discoveries in Western Australia’s Goldfield region. 

The results stretch the near-mine mineralisation both along strike and at depth at the prospects that will eventually tie into the company’s flagship Riverina mining camp and extend its overall project life. 

At the recently discovered Little Gem, mineralisation is out to some 1200 metres along strike and 700m down, with fresh drilling boasting thick intercepts like 25.6m at 4.3 grams per tonne (g/t) gold. 

At Riverina Deeps, the system plunges past 1000 vertical metres into bonanza grade hits such as 3.4m at 51.7g/t gold, including 1.0 metre at 172.4g/t.

The company has now punched some 80 holes for more than 29,000m at Little Gem since its discovery late last year. 

Ora Banda says phase 3 drilling wraps up mid-November with assays in for half the holes already. 

Standout hits at the growing Little Gem include 9m at 8.1g/t from 70m below surface and 15 metres at 4.2g/t from 120m downhole showing early possible open-cut scenario promise. 

The ripper March hit of 22.7m at 5.0g/t gold which prompted accelerated drill programs lies some 300m along strike from today’s peak figures, highlighting just how big Little Gem is becoming.

The geometry lines up straight and easy with the plunges and directions at Riverina, providing a simple exploration model and no wasteful drill holes.

The whole setup remains wide open in every direction too, with phase 4 set to kick off in January next year, before a maiden resource will be tallied. 

Ora Banda has also blazed through a further 88 holes for 25,000m at Riverina Deeps. That covers 18 surface holes for 6000 metres and 70 underground holes from the Riverina mine for 19,000m. 

The high-grades continue to stack up, including bonanza hits of 2.6m at a ripping 63.0g/t gold and 0.9 metre at 112.0g/t.

Little Gem slots just south of the Riverina camp, 25km north of its Davyhurst mill, which cranks through 1.2 million tonnes of ore a year. 

The company is eyeing a handy 150,000 ounces annually from its mill, thanks to the high-grade feeds from Riverina and its Sand King underground mines. 

The latest intercepts at Little Gem will more than likely become bulk ore haul, while Riverina deeps lock in years of underground continuity.

Ora Banda says it remains on track for a 140,000-to-155,000-ounce year, a 60 per cent leap on last year’s record of 92,400 ounces. All-in sustaining costs continue to plummet, coming in between $2800 to $2900 per ounce in a $6300 an ounce price environment.

Exploration firepower for the year comes in at a staggering $73 million for 329,000m, doubling the past three years tallies. The ounce conversion looks well worth the spend though as Little Gem joins the 7km Round Dam Trend and some 140kms of gold belt that continues to throw up high-grade discoveries.

A feasibility study underway to more than double Davyhurst’s capacity to 3 million tonnes a year looks almost a future must now as growing mounds of ore flood from the new finds. 

The company looks to be carving a path to big future gold flows with Riverina and Sand King as its anchors and Little Gem firing up the pipeline. The drilling blitz points to a stacked resource base if the hits keep rolling and an exciting maiden resource for Little Gem in the new year. 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au