Ora Banda Mining Identifies 'Large Scale' Mineralization System in Western Australia Project, Shares Fall 6%

MT Newswires Live

02/02

Ora Banda Mining (ASX:OBM) said it has identified up to six subparallel continuous gold lodes along its Round Dam trend in Western Australia, which has resulted in new search windows previously unrecognized in historical drilling, according to a Monday Australian bourse filing.

The results were of up to 14 meters at 18.5 grams per tonne grade of gold, including 12 meters at 21.5 g/t gold and 8 meters at 8 g/t gold.

Early indications are that the Round Dam trend will be highly amenable to bulk tonnage open pit mining with potential for high-grade shoot development, the filing added.

The company's shares fell 6% in recent Thursday trade.

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