More gold results described by Ora Banda Mining Ltd (ASX:OBM) as "outstanding" from the Sand King prospect further support the company’s plans to find and develop a second underground mine to support the Riverina mine and feed the Davyhurst Processing Plant at the Davyhurst Project in Western Australia.
The phase 1 drilling program along the Siberia Trend’s Sand King prospect, which lies around 120 kilometres northwest of Kalgoorlie and 800 metres north of the Missouri Open Pit, is now nearing completion with 30 of the 33 holes complete.
Assays for the first 17 holes from the current drill program at the Sand King underground prospect demonstrate widths and grades conducive to underground mining and have further expanded the mineralisation area.
Ora Banda has substantially increased its geological knowledge, structural framework and overall understanding of Sand King mineralisation, resulting in better definition of lode continuity and grade potential as well as enhanced drill targeting.
The system has been extended to 1 kilometre of strike and 300 metres below surface and remains open both along strike and at depth.
Phase 1 assay results
New results include 2.4 metres at 35.8 grams per tonne (g/t) of gold, including 1.5 metres at 58.8 g/t; 11.5 metres at 6.1 g/t; 4.3 metres at 11.8 g/t including 3.9 metres at 12.9 g/t; 8.0 metres at 6.6 g/t including 7.0 metres at 7.4 g/t; and 9 metres at 3.1 g/t including 6.3 metres at 4.1 g/t.
These results build on the previous Sand King drill results announced in November, including 14.3 metres at 8.3 g/t, including 12 metres at 9.8 g/t.
Ora Banda Mining managing director Luke Creagh said: “The success of this program to date cannot be understated given the first 17 holes received from Sand King have intercepted numerous high-grade gold zones of good width, as well as extending known mineralisation in all directions.
“The assays received to date, coupled with the rapid growth in our geological knowledge and advancements in structural modelling essentially means that Sand King is now presenting as highly prospective for our second underground mine.
“Encouraged by what we are seeing, Ora Banda has moved to accelerate our understanding of Sand King by rolling straight into a Phase 2 drill program which will run for two months.
“This exploration work at Sand King dovetails into Ora Banda’s core business goal for 2024 which is to find and develop a second underground mine to support Riverina. If achieved, the business will be in a step change position whereby the 1.2 million tonnes power annum Davyhurst process plant will be full of high-grade ore and our production rate will increase substantially.”
Phase 2 drilling at Sand King
The Sand King prospect is within the Siberia complex, which also comprises the Missouri, Palmerston, Bewick Moering, Theil Well and Black Rabbit deposits.
Siberia has been the focus for Ora Banda’s most recent open pit mining endeavours, having produced 118,000 ounces since mining recommenced in 2021.
It is now turning its attention to the underground potential of the Siberia Complex, as 95% of the 12,700 holes drilled to date are less than 100 metres in depth, meaning the underground exploration search windows are largely unexplored.
The company confirms that a $2 million phase 2 drill program will continue at Siberia uninterrupted over the next two months.
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