Ora Banda Mining Limited (ASX: OBM) has announced highly encouraging first assay results from its resource drilling program at Waihi in WA.
The company reported that significant high-grade results were returned from initial Waihi resource definition drilling, of which outstanding result returned 5.0m @ 19.2 g/t Au from 38 metres. Other results include 8.0m @ 4.2g/t Au from 36 metres; and 6.0m @ 4.7g/t Au from 57 metres.
Waihi is a large multiple lode system located 3km west of the Davyhurst Processing Plant with potential to host significant open pit and underground mining operations
Ora Banda said that it is well-funded to continue an aggressive drilling program at Waihi.
The Waihi Complex is located 3km west of the Davyhurst Mill and is an advanced deposit with substantial open pit and underground mining potential.
The Waihi Complex comprises the historical Waihi, Homeward Bound, and Golden Pole deposits with a published mineral resource 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.
The Golden Pole Mine produced approximately 81,000 tonnes @ 29.6g/t for 77,000 ounces and in the late 1990s, a further 740,000 tonnes @ 2.40g/t Au for 56,000 ounces was extracted via open pit methods from the Waihi Main deposit.
Resource drilling program
Ora Banda announced that significant high-grade results were returned from initial Waihi resource definition drilling.
The company’s initial reverse circulation and diamond drilling programs at Waihi have been focused on upgrading and extending the existing Waihi Main Shoot mineral resource within a preliminary 2019 optimised pit shell.
The extensional drilling program includes infill around hole WHDD003 (23m @ 9.1g/t from 128 metres) which intersected the Homeward Bound ore lode at depth and down plunge of the exiting open pit.
The company reported an outstanding result of 5.0m @ 19.2 g/t Au from 38 metres from hole WHRC19026.
Other significant hits include 6.00m @ 4.74 ppm Au from 57.0m (WHRC19019); 5.00m @ 4.17 ppm Au from 58 m and 10.00m @ 1.54 ppm Au from 75 m (WHRC19038); 3.00m @ 5.90 ppm Au from 96 mm (WHRC19040); 8.00m @ 4.13 ppm Au from 36 m (WHRC19062); and 3.00m @ 10.47 ppm Au from 42 m (WHRC020).
The company noted that these high-grade results have enhanced the expanded open pit potential at Waihi.
OBM said that the historical Western Australian Government survey and production records for the Golden Pole underground mine have enabled the Company to build a three dimensional digital model of the mine.
The company said that a consultant structural geologist has also recently undertaken a detailed review of the Waihi deposit and all newly collected core samples. This specialised input has greatly assisted with the development and advancement of a structurally dominated mineralisation model for Waihi and this work remains ongoing.
The company announced that data evaluation and geological assessment of all deposits, including Waihi is being planned, followed by additional resource drilling and updated JORC 2012 compliant Mineral Resources.
OBM also reported that regional exploration targeting for new green-fields deposits is being planned.
Ora Banda Managing Director, David Quinlivan, said: “Drilling completed to date at Waihi has provided us with a greater geological understanding of this deposit.
These significant initial results build on our comprehensive historical data set and it is pleasing to see such strong results continuing to enhance the open pit and underground mining potential of the area. We look forward to seeing what the remaining program delivers.”