• Viewed 10,240 times by 3014 users (Last 30 days)
  • print Created with Sketch. Print
OBM 1.75% 28.0¢

ORA BANDA MINING LTD - Corporate Spotlight

Ora Banda Mining (ASX: OBM) is a uniquely positioned gold exploration and development... Ora Banda Mining (ASX: OBM) is a uniquely positioned gold exploration and development company, and 100% owner of the Davyhurst Gold Project in the highly prospective Eastern Goldfields region of Western Australia.More

Corporate Spotlight

Ora Banda Mining (ASX: OBM) is a uniquely positioned gold exploration and development company, and 100% owner of the Davyhurst Gold Project in the highly prospective Eastern Goldfields region of Western Australia.
View the full Corporate Spotlight arrow Created with Sketch.

Interview with David Quinlivan, MD - May Updates

OBM INCREASES TOTAL CALLION RESOURCE

arrow-down-2 Created with Sketch.


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.


29th June 2020 - The Market Herald

VIDEOS

arrow-down-2 Created with Sketch.



Interview with David Quinlivan, MD Orabanda Mining - May Updates


PRESENTATION

arrow-down-2 Created with Sketch.

AGM PRESENTATION

arrow-down-2 Created with Sketch.

RESULTS CONTINUE

arrow-down-2 Created with Sketch.

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.” 


Click here to view the full announcement

(20min delay)
Last
28.0¢
Change
-0.005(1.75%)
Mkt cap ! $201.3M
Open High Low Value Volume
29.0¢ 29.0¢ 26.5¢ $654.8K 2.384M

Buyers (Bids)

No. Vol. Price($)
1 17173 27.5¢
 

Sellers (Offers)

Price($) Vol. No.
28.5¢ 39988 1
View Market Depth
Last trade - 15.52pm 14/07/2020 (20 minute delay) ?
(live)
Last
28.0¢
  Change
-0.005 ( 3.45 %)
Open High Low Volume
28.0¢ 28.0¢ 26.5¢ 265559
Last updated 15.52pm 14/07/2020 (live) ?
OBM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.