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Ora Banda Mining Ltd.
Summary
| Project: | Davyhurst | |
|---|---|---|
| Deposit: | Waihi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/3/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 3-2-2020: Ora Banda Mining Ltd. announces a Resource Estimation report for its Waihi deposit at the Davyhurst project. Waihi resource increased by 190%. Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to announce an updated Miner | |
| Resources: | (Resource, I+I): 2.462Mt @ 2.6g/t Au at Waihi | |
| 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 Waihi Prospect, a key part of the Company’s Davyhurst Gold Project (“Project”). Waihi is located just 3.2 km from the Davyhurst processing plant. The Mineral Resource at the Waihi Project has increased by 190% from 0.9 Mt @ 2.4 g/t Au for 71,000 ounces of contained gold to 2.46 Mt @ 2.6 g/t for 206,000 ounces of contained gold. The Company’s total Mineral Resource has accordingly increased to 23.8 Mt @ 2.6 g/t Au for 1.99 million ounces of contained gold. The Waihi open pit Mineral Resource estimate is based on a gold price of A$2,4001 per ounce, a lower block cutoff grade of 0.5 g/t Au and is physically constrained to the area within an optimum A$2,400 per ounce open pit shell that extends to a depth of 140 metres. The Waihi underground Mineral Resource estimate is limited to the area beneath the optimum A$2,400 per ounce open pit shell but with a higher block cutoff grade of 2.0 g/t Au to reflect the increased cost of underground mining Further details of the new Waihi Mineral Resource estimate are provided in Tables 1 and 2. The Company’s Mineral Resource Statement (see Appendix 1) has also been updated to incorporate the additional gold resource now identified at Waihi. | |
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