Ora Banda Mining (ASX:OBM) said infill drilling between 500 meters to 1,000 meters below surface returned numerous high-grade intersections at the Riverina gold camp in Western Australia, according to a Tuesday Australian bourse filing.
The company reported "significant" intercepts of 1.7 meters at 76.4 grams per tonne (g/t) grade of gold, 11.8 meters at 9.8 g/t grade of gold, and 4.3 meters at 24.6 g/t grade of gold. The firm is working towards an updated mineral resource estimate.
It also completed an initial seven-hole program at the Waihi prospect, which provided material depth extensions to the known mineralization. One of the drill holes intersected a new mineralized zone in the footwall of the main mineralization at 330 meters below surface, returning 8.7 meters at 9.3 g/t grade of gold.
Wide spacing exploration drilling at the Little Gem prospect on 400-meter step outs extended the mineralized carbonate system, per the filing. A phase two drill program is ongoing, with further infill drilling planned at Little Gem.
Ora Banda Mining's shares fell 2% in early trading on Tuesday.
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