Exploration Update - Waihi
| Stock | Ora Banda Mining Ltd (OBM.ASX) |
|---|---|
| Release Time | 4 Sep 2025, 8:16 a.m. |
| Price Sensitive | Yes |
Outstanding Drill Results at Waihi Boost Underground Mine Potential
- Drilling intersected a new high-grade gold lode and extended the Waihi West Lode to over 350 vertical metres
- Significant results include 6.0m @ 21.1 g/t, 3.9m @ 29.5 g/t, and 13.5m @ 6.1 g/t
- The Waihi deposit is being targeted as a potential third underground mine at the Davyhurst Project
Ora Banda Mining has reported outstanding drill results from its Waihi deposit, located 3km west of the Davyhurst processing plant. The first 9 holes from a planned 45-hole, 15,300m drill program have delivered exceptional results, including the discovery of a new gold lode in the hanging wall of the historical Golden Pole Mine and material depth extensions to the Waihi West Lode, which has now been intersected over 350 vertical metres below surface. Significant intersections include 6.0m @ 21.1 g/t, 3.9m @ 29.5 g/t (including 1.8m @ 60.8 g/t), and 13.5m @ 6.1 g/t. The new lode discovery in the hanging wall of the Golden Pole Mine, which historically produced 77,000 ounces, remains open along strike, to the north, and down plunge. Follow-up drilling is planned to expand on this new discovery. The drilling has also extended the Waihi West Lode to over 350 vertical metres below surface, with hole WHDD25006W2 returning 3.9m @ 29.5 g/t. This is the deepest hole drilled to date on this lode. The Waihi deposit is being targeted as a potential third underground mine at the Davyhurst Project, in addition to the Riverina and Sand King mines. The company says these outstanding results continue to build the case for Waihi as a future underground operation.
Ora Banda plans to continue its 45-hole, 15,300m drill program at Waihi to further test the depth extensions and new discoveries, with the goal of establishing Waihi as a potential third underground mine at the Davyhurst Project.