Ora Banda Mining Ltd hits further broad, high-grade gold during Golden Eagle

() (FRA:M6N) has received further broad, high-grade results in resource extension and infill diamond drilling at Golden Eagle deposit within the wider Davyhurst Gold Project in Western Australia, supporting pre-mining expectations and providing important information into remodelling the Southern Mining Area.

The drilling program was aimed at infilling and extending the declared mineral resource of 393,000 tonnes at 3.9 g/t gold for 49,000 ounces.

Best new result is 19 metres at 5.4 g/t gold, including 11.1 metres at 8.9 g/t, with other results of:

• 5.8 metres at 15 g/t, including 5.5 metres at 16 g/t;
• 14.6 metres at 4.8 g/t, including 14.2 metres at 4.9 g/t;
• 7.3 metres at 9.4 g/t;
• 13.8 metres at 4.1 g/t, including 4.6 metres at 9.5 g/t; and
• 4.3 metres at 5.5 g/t.

“Very strong results”

Managing director David Quinlivan said: “We are currently developing northwards on the 310 Level towards some of these very strong results and are certainly looking forward to mining this high-grade area in the near term.

“The Southern Mining Area has also yielded some strong results which our geology team are currently remodelling.

“The flatter folded ore lode geometry in this area is a new and potentially significant development and we are looking at ways to better target this flatter ore zone in future mining programs.”

A total of 61 holes for 8,370 metres have been completed, with assays outstanding for 17 holes totalling 2,445 metres.

Ora Banda started underground mining at Golden Eagle in the March quarter of 2021 with capital decline development currently below the 310 Level (around 150 metres below the natural surface).

Mining completed to date on the North Shoot has met the definitive feasibility study expectations.

However, mining in the Southern Mining Area has encountered folded ore lodes such as an asymmetrical anticline with a flat west limb and a moderately dipping east limb, that require more work to better understand the controls on gold mineralisation.

Antiformal fold in 335 South Ore Drive (looking south).

Ora Banda believes this is a positive result but a better understanding of gold distribution within the folded sequence is needed.

Drilling, mapping and additional mine development are being undertaken to better understand gold distribution within the folded lodes.

The grade potential of the folded lodes remains strong with several drill holes intersecting what appears to be a high-grade core area.

Additional long-range drilling programs will be developed to test the greater extents and continuations of this folded sequence.