Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF) has unveiled a potential large-scale gold system at its Round Dam Trend in Western Australia, with first-stage drilling pointing to both open pit and underground potential across multiple lodes.
The initial 50 holes — just 15% of a planned 62,000-metre, 330-hole program — returned standout assays, including 25 metres at 7.7 g/t gold from hole FNRC25194, which incorporated 8 metres at 20.6 g/t. This hole also represents the deepest drilling north of the Federal Flag prospect, opening new exploration potential at depth.
Aerial image, an overview of the Round Dam Trend looking south
Multiple lodes identified
Ora Banda’s geologists have reinterpreted the Round Dam system, identifying up to six subparallel gold lodes along a 7-kilometre corridor linked to the regionally significant Zuleika Shear. Historical drilling had only targeted one or two lodes in isolation.
Among the best early results from Phase 1 drilling were:
- 8.0 metres at 20.6 g/t, including 3.0 metres at 41.7 g/t;
- 2.0 metres at 32.4 g/t, including 1.0 metre at 57.1 g/t;
- 5.0 metres at 11.0 g/t, including 2.0 metres at 23.1 g/t;
- 3.0 metres at 12.0 g/t, including 2.0 metres at 17.5 g/t; and
- 7.0 metres at 5.0 g/t, including 1.0 metre at 20.3 g/t.
The company said mineralisation remains open both at depth and along strike, with further drilling expected to extend known high-grade zones.
Part of $73 million exploration push
Round Dam is one of seven major mineralised trends Ora Banda is exploring under its FY26 exploration budget of $73 million. The trend stretches 17 kilometres from Waihi, just 3.5 kilometres from the company’s Davyhurst mill, down to the Salmon Gums prospect.
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Overview showing location of the Round Dam Trend compared to Davyhurst processing hub.
The current campaign involves two reverse circulation rigs and one diamond rig, with more than 330 holes planned. Beyond Round Dam, Ora Banda is systematically testing 140 kilometres of strike across its Eastern Goldfields tenure as part of an organic growth strategy to expand resources and reserves.
Management confident in scale
Ora Banda managing director Luke Creagh noted the significance of the reinterpretation of Round Dam’s geology.
“This is an outstanding start to a large exploration program focussed on expanding the current open pit and future underground mining potential of the Round Dam Trend,” he said.
“Credit goes to our geology team who reinterpreted the mineralisation system and identified that multiple, subparallel and proximal gold lodes exist over significant strike,” he added. “Historically, exploration only focussed on one or two lodes in isolation, and we believe by expanding the drilling over the combined multi-lode system there is potential to materially enhance and expand the scale of the deposits.”
Overview plan showing prospects, existing and planned drilling
While still early in the program, Creagh said the work to date had already demonstrated Round Dam’s potential to become a significant new production hub within Ora Banda’s broader Davyhurst project area.