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Ora Banda Mining Ltd.

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Summary

Project:

Davyhurst

Deposit:Waihi
Location:Australia
Commodities:Gold
Date:12/24/2019
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Active Mining & Production
Report details:24-12-2019: Ora Banda Mining Ltd. announces an Exploration/Drilling Update report for its Waihi deposit at the Davyhurst project. Drilling results incl. 19.0m @ 24.5g/t Au from 63m. Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to
Resources:(Resource, Total): 20.728Mt @ 2.5g/t Au at Davyhurst
CP/QP:[Overall Report]: Andrew Czerw (Internal)
ABSTRACT:Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce further results from its Waihi resource definition and metallurgical drilling programs. Drilling at Waihi focussed on delineating and upgrading an optimal open pit Mineral Resource and testing the potential for further open pit and underground resource extensions at depth. These drilling activities have now concluded at Waihi with 80 holes completed for 9,507 metres. Of these, 11 holes for 1,575 metres currently await assay return from the lab. A reinterpretation of the Waihi mineralisation model based on a refined geological understanding obtained from recent drilling is in progress and an updated resource estimate for Waihi is targeted for completion in January 2020. Of particular significance in these assay results is hole WHRC19089 that returned 10.0m @ 14.1g/t from 133.0 metres. This hole targeted and successfully intersected the down plunge continuation of the high grade Homeward Bound shoot which remains open beyond this point. A further two holes that currently await assay return have been drilled below and down plunge of holes WHRC19089.

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