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Ora Banda Mining Ltd.
Summary
| Project: | Lady Ida | |
|---|---|---|
| Deposit: | Flame | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/20/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-5-2020: Ora Banda Mining Ltd. announces an Exploration/Drilling Update report for its Flame deposit at the Lady Ida project. Drilling results incl. 9m @ 5.53g/t Au from 64m. Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to anno | |
| Resources: | (Resources): 320kt @ 13.8g/t Au at Mount Ida | |
| CP/QP: | [Reserve] n/a (n/a) | |
| ABSTRACT: | Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce the results returned from an ongoing regional exploration reverse circulation (RC) and near mine exploration diamond drilling (DD) program. The regional program focussed on testing aspects of the Mulline and Golden Lode mineralised corridors (Figure 2 & 5) which have been underexplored in the past. Near mine diamond drilling focused on the down plunge extensions to the Golden Eagle underground mine and a single hole was drilled to examine the untested footwall sequence of the Missouri open pit deposit. Results returned from the Flame prospect in the southern end of the Golden Lode corridor (Figure 2-4) are highly encouraging and display high grades over mineable widths, in contiguous holes from surface. These results are located immediately north of an historical 50-100 ppb gold-in-soil auger anomaly that has only been tested by shallow (20-30m deep), broad-spaced RAB drilling in the past. The Young Australian prospect sits within the Mulline corridor (Figure 5), which is a 16km long x 2.5km wide, NE-striking zone of highly anomalous gold-in-soils with numerous historical workings and more recent (1990s) shallow laterite open pits. Two fences of RC holes, 400m apart were drilled to test the continuity of mineralisation recorded in old RAB holes to the north and south of one of the laterite pits. Results have identified potential coherent structures of economic-grade gold intersections in lower saprolite and fresh rock, under a veneer of transported cover. | |
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