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Ora Banda Mining Ltd.
Summary
| Project: | Riverina | |
|---|---|---|
| Deposit: | Riverina | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/2/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-12-2019: Ora Banda Mining Ltd. announces a Resource Estimation report for its Riverina deposit at the Riverina project. Updated mineral resource estimate at project. Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce an | |
| Resources: | (Resource, Total): 3.786Mt @ 2.3g/t Au at Riverina | |
| 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 Riverina Project, a key part of the Davyhurst Gold Project (“Project”). Riverina is located 48km from the Davyhurst processing plant. The total Mineral Resource at the Riverina Project has increased to 3.8Mt @ 2.3 g/t for 278k ounces of contained gold including an open pit Mineral Resource of 3.1Mt @ 1.8 g/t Au for 183 ounces of contained gold. The Company’s Mineral Resource statement now stands at 22.2Mt @ 2.6g/t for 1,850k ounces of contained gold. Full details of the new Resource Estimate are provided in Tables 1, 2 and Appendix 1 included within. The updated Mineral Resource follows the successful completion of an initial 6,267m resource definition drilling program. Importantly, as a result of the focussed infill drilling program, the higher confidence Measured and Indicated component has increased by 106,000 ounces (246%) to 179,000 ounces. The Riverina Mineral Resource is reported within a A$2,400 optimised pit shell, whereas previous Mineral Resource (2007) was reported unconstrained. Metallurgical and geotechnical studies have commenced which aim to build on the current knowledge base. A feasibility study aimed at defining the economically viable mining envelope for the proposed open pit has also commenced. Environmental studies required for the approval process are also advancing. | |
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