Ora Banda Mining Ltd (ASX:OBM) is in a trading halt with an interim ore reserve statement announcement pending.
The trading halt will remain in place until the start of normal ASX trading on Tuesday, May 26, or when an announcement is released to the market.
On the back of strong newsflow, shares have been on an upward trend since closing at 9.7 cents on March 23 and last traded at 23.5 cents.
High-grade gold results
Ora Banda recently obtained positive gold results in a regional program at Mulline and Golden Lode mineralised corridors around its Davyhurst project in WA’s eastern Goldfields.
Highlights from the Flame prospect at Golden Lode corridor include 2 metres at 19.22 g/t from 58 metres; 9 metres at 5.52 g/t from 64 metres, including 7 metres at 6.9 g/t; and 3 metres at 8.19 g/t from 80 metres.
The region around Davyhurst has been underexplored in the past.
Ora Banda considers the results returned from Flame in the southern end of Golden Lode corridor as highly encouraging, demonstrating high grades over mineable widths in contiguous holes from surface.