leadf
logo-loader
viewOra Banda Mining Ltd
(
ASX:OBM
)

Ora Banda Mining boosts gold ore reserve to 470,000 ounces at Davyhurst Gold Project

Davyhurst comprises a 1.2 million tonnes per annum gold processing plant, fully permitted mining licences, fully-equipped accommodation facilities at Davyhurst and Riverina and a full complement of supporting infrastructure.

Ora Banda Mining Ltd -
This update shows the gold reserves have been maintained and somewhat enhanced.

Ora Banda Mining Ltd (ASX:OBM) has increased the ore reserve at its Davyhurst Gold Project in the Goldfields region of Western Australia to 6.2 million tonnes at 2.4 g/t gold for 470,000 ounces.

The company has completed an update of mineral resources and ore reserves for the period ending June 30, 2021, taking into account mining depletion with the increase in reserves particularly encouraging.

OBM’s proved and probable ore reserve for the six key deposits at Davyhurst including Riverina, Waihi, Callion, Missouri and Sand King open pits as well as Golden Eagle underground, is 10,000 ounces greater than the estimate of June 30, 2020.

This was calculated at a gold price of A$2,200 per ounce of gold.

The updated total mineral resource estimate across six key deposits at the project now sits at 23.4 million tonnes at 2.8 g/t for 2.14 million ounces of gold a small reduction on the June 30, 2020, estimate of 24.3 million tonnes at 2.8 g/t for 2.17 million ounces.

Ora Banda managing director Peter Nicholson said: "Work continues on the additional expansion of resources and reserves across the tenement holding and we look forward to further updates as these are delivered.”

Mining depletions

The increase in reserves is largely due to the extension of ore reserves for the Riverina open pit and Golden Eagle underground, improvements to the Missouri design and inclusion of surface stockpiles (420,000 tonnes at 1.4 g/t).

This is despite FY21 ore reserve mining depletions of around 28,000 ounces and an uplift in projected costs that contributed to increased cut-off grades.

Quick facts: Ora Banda Mining Ltd

Follow
ASX:OBM

Price: 0.105 AUD

Market Cap: $102.24 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Ora Banda Mining reports further strong drill results from Riverina South...

Ora Banda Mining Ltd's (ASX:OBM) (FRA:M6N) David Quinlivan talks Proactive's Andrew Scott through further strong Riverina South and Riverina Underground gold assay results from an infill drilling program that recommenced in January this year at the deposits near the Davyhurst processing plant in...

on 9/3/21

2 min read