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Ora Banda Mining Ltd.
Summary
| Project: | Riverina | |
|---|---|---|
| Deposit: | Riverina | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/5/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-6-2020: Ora Banda Mining Ltd. announces a Resource Estimation report for its Riverina deposit at the Riverina project. Updated Mineral Resource Estimate for Project. The open-pit component of the Riverina Mineral Resource is reported from the Localised | |
| Resources: | (Resources, Total): 3.7Mt @ 2.7g/t Au (322koz Au) | |
| CP/QP: | [Resource] Andrew Czerw (Internal) | |
| ABSTRACT: | The open-pit component of the Riverina Mineral Resource is reported from the Localised Uniform Conditioning (LUC) model within a A$2,400 optimised pit shell5 . The underground component of the Riverina Mineral Resource is reported from the updated underground Mineral Resource model and includes all blocks outside and below the same A$2,400 optimised pit shell but with a cut-off grade of 2.0 g/t Au, reflecting the increased cost of underground mining. A mining study aimed at defining the portions of the resource that are economically viable by underground mining is in progress. Riverina has an open pit reserve of 1.4 Mt @1.8g/t Au for 81,000 ounces6 . Additional deep drilling is planned for Riverina Main lode aimed at upgrading the resource categories and to define extensions down plunge to the south. Environmental studies required for the mining approval process are also advancing. Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce an updated underground Mineral Resource for the Riverina Project, a key part of the Davyhurst Gold Project (“Project”) located 48km north of the Davyhurst processing plant. | |
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