Ora Banda Mining Limited (ASX:OBM) continues to receive positive news from its Waihi Complex resource definition and metallurgical drilling programmes in the Riverina Project area, north west of Kalgoorlie.
Results returned to date have included 19.0m @ 24.5g/t from 63m, including 6.4m @ 71.6g/t, while drilling has also successfully intersected the down plunge continuation of the high grade Homeward Bound shoot.
Ora Banda Managing Director, David Quinlivan, said drilling at Waihi has focussed on delineating and upgrading an optimal open pit Mineral Resource and testing the potential for further open pit and underground resource extensions at depth.
These drilling activities have now concluded at Waihi with 80 holes completed for 9507m. Of these, 11 holes for 1,575 metres currently await assay return from the lab.
Of particular significance in these assay results was an intersection that has returned 10.0m @ 14.1g/t from 133.0 metres.
Mr Quinlivan said this hole targeted and successfully intersected the down plunge continuation of the high grade Homeward Bound shoot which remains open beyond this point.
“We remain very pleased that the excellent run of high- grade drilling results at Waihi has continued as we continue to progress with the resource estimation update,” Mr Quinlivan said.
“The confirmation of the down plunge continuity of the high grade Homeward Bound shoots is also pleasing and remains a key focus of future exploration activities at Waihi.”
Mr Quinlivan said a reinterpretation of the Waihi mineralisation model based on a refined geological understanding obtained from recent drilling is in progress and an updated resource estimate for Waihi is targeted for completion in January 2020.
The Waihi Complex comprises the historical Waihi, Homeward Bound and Golden Pole deposits with a published mineral resource (2007) of 914,000 tonnes @ 2.4g/t for 71,000 ounces.
The Waihi South and Golden Pole were initially mined in the early 1900s as high grade underground mines to a maximum depth of 190 metres, targeting steeply dipping, north plunging shoots. Golden Pole Mine produced approximately 81,000 tonnes @ 29.6g/t for 77,000 ounces.