Ora Banda reports successful infill drilling program at Iguana

Ora Banda Mining Limited (ASX:OBM) has announced initial assay results from infill drilling at the Iguana deposit within its Lady Ida Project area in WA. 27 RC drill holes have been completed, totalling 3,750 metres.

Initial assay results include:

• 9.0m @ 7.6 g/t from 181m (Including 7.0m @ 9.6 g/t)
• 30.0m @ 2.2 g/t from 31m (Including 23.0m @ 2.7 g/t)
• 21.0m @ 3.2 g/t from 69m (Including 1.0m @ 41.3 g/t & 7.0m @ 3.5 g/t)
• 32.0m @ 2.0 g/t from 35m (Including 13.0m @ 3.1 g/t)
• 11.0m @ 5.0 g/t from 196m (Including 3.0m @ 16.1 g/t)
• 10.0m @ 4.4 g/t from 164m
• 10.0m @ 4.0 g/t from 72m (Including 8.0m @ 4.8 g/t)
• 8.0m @ 4.8 g/t from 44m (Including 5.0m @ 7.3 g/t)
• 8.0m @ 4.5 g/t from 69m (Including 2.0m @ 16.24 g/t)
• 10.0m @ 3.3 g/t from 136m
• 4.0m @ 7.9 g/t from 68m
• 12.0m @ 2.6 g/t from 28m (Including 8.0m @ 3.4 g/t)
• 4.0m @ 7.6 g/t from 84m
• 6.0m @ 5.1 g/t from 32m (Including 2.0m @ 14.2 g/t)
• 23.0m @ 1.2 g/t from 124m
• 2.0m @ 13.6 g/t from 136m
• 4.0m @ 6.2 g/t from 38m (Including 2.0m @ 11.9 g/t)
• 15.0m @ 1.6 g/t from 27m (Including 3.0m @ 3.6 g/t)
• 10.0m @ 2.2 g/t from 123m (Including 2.0m @ 8.1 g/t)
• 5.0m @ 4.1 g/t from 70m (Including 2.0m @ 9.7 g/t)

Iguana infill and extensional drilling program

The aim of the drill program is to upgrade and expand the existing mineral resource of 2,722,000 tonnes @ 2.0 g/t (175,000 total troy ounces Au), with inferred material upgraded to indicated status.

Iguana prospect

The Iguana prospect, located within Lady Ida Project Area, is situated approximately 55km south of the Davyhurst Processing Plant. Historical open pit mining operations spanning back 30 years have focussed on the Iguana, Lizard and Blue Tongue deposits.

“This is a large deposit that has the potential to deliver higher grade ore to our 1.2mtpa Davyhurst processing plant”

Management Comments

Ora Banda CEO Peter Nicholson said: “The strong initial drilling results indicate that our development plans for the Iguana deposit are on the right track. This is a large deposit that has the potential to deliver higher grade ore to our 1.2mtpa Davyhurst processing plant. We have more work scheduled at Iguana and remain excited to see what the next round of drilling delivers to allow us to move forward with assessing the potential for material mine life extension via this deposit.”

Images: Ora Banda Mining Limited