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Ora Banda Mining Ltd.

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Summary

Project:

Davyhurst

Deposit:Golden Eagle
Location:Australia
Commodities:Gold
Date:4/8/2020
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Active Mining & Production
Report details:8-4-2020: Ora Banda Mining Ltd. announces a Resource Estimation report for its Golden Eagle deposit at the Davyhurst project. Updated Mineral Resource for Golden Eagle. Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce an
Resources:(Resources, I+I): 393kt @ 3.9g/t Au at Golden Eagle (OP + UG)
CP/QP:[Resources]: Andrew Czerw (Internal)
ABSTRACT:Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce an updated Mineral Resource for the Golden Eagle deposit, a key part of the Company’s Davyhurst Gold Project (“Project”). Golden Eagle is located only 3.2 km from the Davyhurst processing plant. The upgraded Golden Eagle Resource totals 393 kt at a substantially higher grade of 3.9 g/t Au for 49,000 ounces of contained gold to reflect the potential to mine this deposit by conventional underground mining methods and includes an Indicated Resource of 247 kt also at a substantially higher grade of 4.1 g/t Au for 33,000 ounces of contained gold. The upgraded Golden Eagle underground Mineral Resource estimate is based on a gold price of A$2,400 per oz Au, a cutoff grade of 2.0 g/t and has been derived following the input of (i) drilling results received since the previous resource was quoted and (ii) recent underground face sampling information together with the application of various constraints including modifying factors for potential underground operations (refer to Sections on Criteria Used For Classification and Cut-off grades and Modifying Factors).

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