Ora Banda Mining has unveiled a suite of bonanza-grade gold hits from its Golden Pole Lode 1 prospect within the Waihi project in Western Australia's Eastern Goldfields. The spectacular results have confirmed strong mining potential, accelerating plans for a resource upgrade and a potential third underground mine to feed its nearby Davyhurst plant.
Standout intercepts from the latest campaign include a high-grade hit of three metres at 44 grams per tonne (g/t) gold from just 50 metres depth, featuring a two-metre section running at more than two ounces of gold per tonne. Additional hits include a two-metre section grading 48.2 g/t gold within an 11-metre intercept going 10.5 g/t gold from 215.4 metres, and a seven-metre hit grading 16.9 g/t gold from 142.6 metres, with a three-metre section grading 31.3 g/t.
The 22-hole program aimed to infill and extend mineralisation beneath the historical Golden Pond workings and confirm mineralisation around the new lode east of Golden Pole. The highly successful program has defined a northwest striking parallel high-grade shoot that remains open to the south and down plunge, validating the scale of the system.
Ora Banda says it is rapidly incorporating these results into an updated mineral resource and underground ore reserve estimate for Waihi, both slated for release early in the June quarter. The company recently banked $76.3 million in free cash flow from its Davyhurst assets in a record-breaking March quarter, and with a $231.7 million war chest, it is well-funded to convert exploration wins into developments.
