Ora Banda Mining's Latest Drilling Can Potentially Make Waihi Third Underground Mine, Euroz Hartleys Says, Shares Up 3%

MT Newswires Live

01/16

Ora Banda Mining's (ASX:OBM) latest drilling at Davyhurst project in Western Australia strengthen the case for Waihi to become its third underground mine, with drilling delivering high-grades, strong widths, and mineralized extensions, all within 3 kilometers of the Davyhurst processing infrastructure, according to a Thursday Euroz Hartleys note.

The company on Thursday said drilling has continued to expand the mineralization area with thick, "high-grade" results at its Waihi deposit within the Davyhurst project in Western Australia.

The research firm also noted that a new mineralized structure has been discovered west of Waihi's Golden Pole lode, further highlighting the exploration upside, opening up another "promising" zone for follow-up drilling, and potential resource growth.

Euroz Hartleys maintained its buy rating on Ora Banda Mining and raised its price target to AU$1.85 from AU$1.70.

The company's shares rose nearly 3% in recent Friday trade.

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