Interview with David Quinlivan, MD Orabanda Mining - August
Interview with David Quinlivan, MD Orabanda Mining - May Updates
29th June 2020 - The Market Herald
- Ora Banda (OBM) has increased the Callion Deposit's total resource by 72 per cent to 680,000 tonnes at 4.9 g/t gold for 107,000 ounces of gold
- Today, the company released Callion's maiden underground indicated and inferred mineral resource which is 11,000 tonnes at 5.8 g/t gold for 77,000 ounces of gold
- Positively, this update completes the resource estimation process for the definitive feasibility study
- The Callion Deposit is part of the Davyhurst Gold Project in WA, which now has a total mineral resource of 23.7 million tonnes at 2.8 g/t gold for 2.13 million ounces
- Despite the good news, company shares have dropped a slight 3.03 per cent and are trading for 32 cents each
Ora Banda (OBM) has announced the maiden underground mineral resource at the Callion Deposit, a key part of its Davyhurst Gold Project in Western Australia.
Callion's maiden underground indicated and inferred mineral resource is 411,000 tonnes at 5.8 g/t gold for 77,000 ounces of gold.
This comes after Ora Banda announced the upgrade of Callion's open-pit resource in May this year. This resource remains unchanged at 269,000 tonnes at 3.5 g/t gold for 30,000 ounces.
Significantly, the addition of the underground component has increased the Callion Deposit's overall total resource by 72 per cent to 680,000 tonnes at 4.9 g/t gold for 107,000 ounces of gold.
Ora Banda's total mineral resource now sits at 23.7 million tonnes at 2.8 g/t gold for 2.13 million ounces.
"This update completes the resource estimation process for the imminent DFS," Managing Director David Quinlivan said.
"The deeper, high-grade drilling results received to date from Callion indicate there is significant potential for a lower tonnage, higher grade underground mine and we continue to evaluate this opportunity as we believe it could make a significant contribution to the larger Davyhurst Gold Project," David added.
The new underground resource at Callion stems from recent drilling that targeted the Callion Main Lode below the open-pit resource shell.
Pleasingly, gold mineralisation at Callion plunges to the south and has been defined by drilling to a 450-metre depth below surface.
Despite the good news, company shares have dropped a slight 3.03 per cent and are trading for 32 cents each at 1:38 pm AEST.
High Grade Assays Results Continue at Waihi
ASX Announcement 6 November 2019
HIGHLIGHTS:
- Significant high-grade results continue from Waihi Phase 1 resource definition drilling
- Outstanding result returned 23.0m @ 6.2 g/t from 57m & 17.0m @ 6.7 g/t from 77m
- Also 1.6m @ 36.3g/t from 219.0 metres, including 0.65m @ 91.3g/t
- Also 6.0m @ 5.5g/t from 107.0 metres
- Also 2.0m @ 13.0g/t from 56.0 metres
- Ora Banda is well-funded to continue an aggressive drilling program at Waihi
Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce the next round of results from its Waihi resource definition drilling program.
Recently, both reverse circulation (RC) and diamond drilling (DD) operations have been centred on the Waihi deposit with solid progress achieved. Drilling has been focused on delineating and upgrading an optimal open pit Mineral Resource with potential for further resource extensions at depth. A total of 3,899 RC metres and 4,234 DD metres for 8,133 metres has been completed to date at Waihi from a total planned program of 9,845 metres.
The more recent drilling continues to infill and extend early results that intersected the Waihi and Homeward Bound ore shoots at depth down plunge of the existing open pit resources. These earlier results include, but are not limited to:
- 23m @ 9.1g/t from 128 metres (see ASX announcement dated 29 July 2019)
- 5.0m @ 19.2 g/t from 38 metres (see ASX announcement dated 14 October 2019)
- 8.0m @ 4.2g/t from 36 metres (see ASX announcement dated 14 October 2019)
- 6.0m @ 4.7g/t from 57 metres (see ASX announcement dated 14 October 2019)
Of interest in the latest batch of results is hole WHDD0024 that intersected 2.0m @ 13.0g/t in a RC pre-collar that targeted the Golden Pole lode (see figure 2). This previously undiscovered hangingwall structure is untested along strike for up to 270 metres (180m north & 90 metres south) and poorly tested beyond that.
A further 2,500 Waihi area samples are currently awaiting processing through the assay laboratory.
Managing Director Comment
Ora Banda Managing Director, David Quinlivan, said: “The strength of the Waihi drilling results to date continuesto impress. Waihi is a high tenor ore system and the discovery of a previously untested hanging wall lode on the Golden Pole line of lode is exciting and demonstrates that the near mine exploration potential remains highly prospective. Our drilling program at Waihi continues and we look forward to the next round of results from this program.”
Ora Banda Mining (ASX:OBM) focuses on production during December quarter
- Ora Banda Mining's (OBM) spent much of the December quarter gearing up for the resumption of gold production at the Davyhurst Project in WA
- The company has released its latest quarterly activities and financial update, highlighting the works carried out ahead of production resuming in January
- These works include commencing dry commissioning at the process plant, building ore stocks from the Riverina open-pit and installing an LNG power station
- Ora Banda ended December with $32.59 million in the bank, having spent $3.69 million on operating expenses and $15.96 million on investment activities
- Meanwhile, since the end of the December quarter, OBM has begun feeding processing ore into the crusher, with wet processing also commencing
Ora Banda Mining (OBM) has released its latest quarterly report, showing it spent much of the period gearing up for the resumption of gold production at Davyhurst.
The Davyhurst Gold Project is located in the Eastern Goldfields region of WA and OBM was planning to resume gold production there in the first quarter of 2021.
In anticipation of this, the company carried out a number of work programs, including commencing dry commissioning at the 1.2 million tonnes per annum Davyhurst Gold Processing Plant in December.
It also begun open-pit mining at Riverina in October, in a bid to build up its ore stocks ahead of plant re-commissioning, with a total of 418,166 bank cubic metres mined from stage one.
Along with the open-pit mining, Ora Banda re-established access to the Golden Eagle underground mine via the open-pit mine, with the de-watering process now completed.
Finally, the December quarter also saw OBM complete the pre-commission and installation of its LNG Power Station for the project.
The Davyhurst village upgrade was also completed, while construction continued on the Riverina village as well as at regional roads in and out of the site.
Financially, the company spent $3.69 million on operating expenses and $15.96 million on investment activities over the December quarter. The biggest expense was plant, property and equipment — where over $10 million was spent.
Ora Banda ended December with $32.59 million in the bank, enough cash to keep it going for another 4.66 quarters if its burn rate remains the same.
Meanwhile, since the end of the December quarter, Ora Banda reports road haulage of ore to the Davyhurst plant has begun, with 40,000 tonnes moved to date.
Pleasingly, the company said the first parcel of low grade commissioning ore was fed into the primary crusher on January 17 while wet processing commenced midway through the month.
Since the December quarter came to a close, OBM has had to launch an investigation after an electrician was hurt in a "serious" incident at one if its mines.
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