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Ora Banda Mining Ltd (ASX:OBM)

ALERT: Price-sensitive ASX Announcement for OBM
Current share price for OBM : $1.105 0.165 (17.55%)+
Announcement
Release
4 Sep 2025 8:16AM
Price at Release
$0.940
Full Release
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Summary
Ora Banda Mining Ltd has reported exceptional results from its ongoing exploration at the Waihi deposit, which is located three kilometers west of the company's processing plant at Davyhurst. The company is conducting a 45-hole drilling program totaling 15,300 meters aimed at extending the mineralized envelope and discovering new deposits. Significant findings include the extension of the Waihi West Lode over 350 meters below surface, with some of the highest-grade intercepts recorded at 3.9 meters at 29.5 g/t gold. Additionally, a new lode system was discovered near the historical Golden Pole mine. These promising results bolster the potential for Waihi to become Ora Banda's third underground mine on the Davyhurst Project, alongside Riverina and Sand King. The geological setting highlights the structural control of gold mineralization, with mineralized shoots hosted within deformed quartz veins.
Key Points
  • Exceptional drill results from the Waihi deposit.
  • 45-hole, 15,300-meter drilling program.
  • Discovery of new lode system near Golden Pole mine.
  • Extension of Waihi West Lode to over 350 meters depth.
  • High-grade intercepts including 3.9m @ 29.5 g/t gold.
  • Potential for Waihi to be a third underground mine.
  • Mineralization structurally controlled within shear zones.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.