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Ora Banda Mining Ltd.
Summary
| Project: | Davyhurst | |
|---|---|---|
| Deposit: | Callion | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/15/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-5-2020: Ora Banda Mining Ltd. announces a Resource Estimation report for its Callion deposit at the Davyhurst project. Updated Mineral Resource Estimate for Project. Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce an | |
| Resources: | (Resources, Total): 23.3Mt @ 2.5g/t Au (1,850koz Au) | |
| CP/QP: | [Resource]: Andrew Czerw (Internal) | |
| ABSTRACT: | Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce an updated open pit Mineral Resource for the Callion deposit, a key part of the Company’s Davyhurst Gold Project (“Project”). Callion is located 14 km from the Davyhurst processing plant. The upgraded Mineral Resource at the Callion Project has increased by 114% to 269 Kt @ 3.5 g/t for 30,000 ounces of contained gold (up from 169 Kt @ 2.6 g/t Au for 14,000 ounces of contained gold) and includes an Indicated Resource of 241 Kt at a substantially higher grade of 3.7 g/t Au for 28,700 ounces of contained gold. Further details of the updated Mineral Resource estimate are provided in Tables 1 and 2. The Callion open pit Mineral Resource estimate has been derived following additional drilling and the application of various constraints including modifying factors (refer to Sections on Criteria Used for Classification and Cut-off grades and Modifying Factors). These include a gold price of A$2,4001 per ounce, a lower block cut-off grade of 0.5 g/t Au and a physically constrained area within an optimum A$2,400 per ounce open pit shell that extends to a depth of 85 metres. | |
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