Or a Banda: Round Dam mineral resource grows to 1.33M oz

Ora Banda Mining Ltd (ASX:OBM) has reported significant progress in its Phase 1 drilling program at the Round Dam Trend, approximately 15 kilometers south of its Davyhurst processing hub. The initiative, focused on a 7.5-kilometer section of an 18-kilometer prospective corridor, has identified six sub-parallel gold lodes, with results suggesting both bulk-tonnage mineralisation and high-grade shoots. To date, 280 drill holes (53,000 meters) have been completed, with 231 holes contributing to the latest update.

Notable intercepts include 14 meters at 18.5 g/t gold (including 12 meters at 21.5 g/t), 7 meters at 35.0 g/t gold (including 5 meters at 48.6 g/t), and 33 meters at 4.6 g/t gold (including 9 meters at 9.2 g/t). These high-grade zones are part of a broader mineralised system, with long intercepts such as 19.8 meters at 2.5 g/t gold and 26 meters at 2.0 g/t gold supporting open-pit potential.

Geological analysis indicates mineralisation thickens near lithological contacts, particularly between ultramafic and mafic/sedimentary units, aligning with established models at Waihi and Walhalla. Historical exploration focused on selective high-grade lodes, leaving much of the system underexplored at depth and along strike.

The Round Dam Trend's proximity to existing Davyhurst infrastructure enhances its strategic value, with Managing Director Luke Creagh emphasizing its potential for rapid resource development. Ongoing drilling aims to extend mineralisation between Walhalla and Salmon Gums, with further structural interpretation planned to refine resource targets. The program aligns with Ora Banda's $73 million FY26 exploration strategy, targeting projects with near-term mine potential.