Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF) has reported a major breakthrough from its ongoing Phase 1 drilling program at the Round Dam Trend near Kalgoorlie, identifying what it believes could be a large-scale gold mineralisation system with strong potential for surface mining.
The Round Dam Trend sits around 15 kilometres south of Ora Banda’s Davyhurst processing hub and extends for about 18 kilometres from the Waihi deposit in the north to Salmon Gums in the south. Current drilling is focused on a 7.5-kilometre section of the highly prospective corridor, where results are pointing to both bulk-tonnage mineralisation and newly identified high-grade shoots.
Overview showing location of the Round Dam Trend compared to Davyhurst processing hub.
Drilling highlights point to scale and grade
Ora Banda said drilling has now identified up to six sub-parallel, continuous gold lodes along the trend, opening up new exploration search windows that were not recognised in historical drilling.
To date, more than 280 drill holes for around 53,000 metres have been completed from the planned 62,000-metre Phase 1 program, using two reverse circulation rigs and one diamond rig. Results from the first 50 holes were released in August 2025, with the remaining 231 holes forming the basis of the latest update.
Aerial image, an overview of the Round Dam Trend looking south
Standout intercepts highlighting high-grade shoot potential include:
- 14 metres at 18.5 grams per tonne (g/t) gold, including 12 metres at 21.5 g/t
- 7 metres at 35.0 g/t gold, including 5 metres at 48.6 g/t
- 12 metres at 13.1 g/t gold, including 8 metres at 19.3 g/t
- 8 metres at 29.0 g/t gold, including 5 metres at 46.2 g/t
- 33 metres at 4.6 g/t gold, including 9 metres at 9.2 g/t
These higher-grade zones sit within a broader mineralised corridor that also delivered multiple long intercepts supportive of a bulk-tonnage, open-pit style opportunity, such as:
- 19.8 metres at 2.5 g/t gold, including 5.7 metres at 7.2 g/t
- 26 metres at 2.0 g/t gold, including 20 metres at 2.5 g/t
- 22 metres at 1.2 g/t gold, including 18 metres at 1.3 g/t
Geological model taking shape
The company said its geological understanding of the Round Dam Trend is advancing rapidly, with drilling confirming consistent lithological and structural controls on mineralisation along strike.
Key observations include thickening and widening of mineralisation near lithological contacts, particularly where ultramafic units meet mafic and sedimentary rocks. Flexures within these contacts are emerging as important sites for high-grade shoot development, a model already validated at deposits such as Waihi, Federal Flag and Walhalla.
Area of proven or potential high-grade shoot development within an 8.8km strike horizon of the 18km Round Dam Trend.
Six distinct lodes have now been defined along the trend. Ora Banda noted that historical mining focused on selective, high-grade “lode hopping”, leaving much of the broader system underexplored at depth and along strike.
Strategic value close to infrastructure
Managing director Luke Creagh said the Round Dam results underline the project’s potential to support Ora Banda’s organic growth strategy.
“At Round Dam we are looking at the potential for large-scale surface mining opportunities, enhanced by multiple newly identified high-grade shoots,” Creagh said.
“Excitingly, the Round Dam Project is located only 15 kilometres from our existing Davyhurst processing infrastructure, with the potential for rapid resource development.
“Today’s Round Dam results are another highlight in the company’s ongoing $73 million FY26 exploration strategy to target projects with the potential to become mines in short order supporting the company’s organic growth strategy.”
Further drilling and structural interpretation are ongoing, with a focus on extending mineralisation into underexplored areas between Walhalla and Salmon Gums and refining targets for future resource definition.
Overview plan showing prospects, existing and planned drilling.