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Ora Banda Mining Ltd.
Summary
| Project: | Siberia | |
|---|---|---|
| Deposit: | Siberia | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 30-10-2019: Ora Banda Mining Ltd. announces a Resource Estimation report for its Siberia deposit at the Siberia project. Open pit mining reserves increase by 42%. Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce an increa | |
| Resources: | (Reserve, Prob.): 2.8Mt @ 2.3g/t Au at Siberia | |
| CP/QP: | [Overall Report]: Craig Mann (Entech Pty Ltd.) | |
| ABSTRACT: | Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce an increased open pit Mining Reserve of 210,000 oz Au (up from 150,000 oz Au) at its Siberia prospect in Western Australia. Ora Banda’s Siberia prospect is located approximately 39km south-east of the Company’s 1.2 Mtpa processing plant at Davyhurst and 80km north west of Kalgoorlie within the North Eastern Goldfields of Western Australia and incorporates the Missouri and Sand King Open Pits (Figure 1). Entech Pty Ltd, an independent internationally recognised mining consultancy firm specialising in open pit gold mining in the Eastern Goldfields region, was engaged to undertake a full optimization and design review of Ora Banda’s existing Sand King and Missouri open pits at Siberia. The optimization studies undertaken by Entech incorporated: (i) current capital and operating cost estimates for small to medium sized open pit gold mines located in the Eastern Goldfields region of Western Australia, and (ii) a base case gold price of A$2,000 per ounce Au. The optimisation and redesign review process carried resulted in a combined Open Pit Mining Reserve estimate for the Sand King and Missouri deposits of 2,800,000t at a grade of 2.3 g/t Au for 210,000 ounces Au. Importantly the reserve grade held steady over the 2017 reserve estimate of 2,000,000 tonnes at 2.3 g/t Au for 150,000 ounces. This represents a 42% increase in the open pit Mining Reserve at Siberia and a 43% conversion of Measured & Indicated Mineral Resources to Mining Reserves (up from 30%). | |
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