Ora Banda Mining (ASX:OBM) has reported significant high-grade drill results at its Waihi Project, with targeted follow-up drilling on the Golden Pole Lode continuing to expand the mineralised envelope.
Highlights include intercepts of 7m @ 27.4 g/t Au, including 2.0m @ 87.5 g/t, and 2.2m @ 56.3 g/t Au, including 1.8m @ 67.7 g/t, confirming substantial down-plunge extensions beneath historical workings.
The company has scheduled a further 20 holes for infill and extensional drilling, adding to the ongoing 97-hole program across the broader Waihi Project, which has also returned high-grade results at Waihi East and Homeward Bound, and identified a potential new lode west of Golden Pole.
Located 3km from Ora Banda’s Davyhurst processing plant, the Waihi deposit is being targeted as a potential third underground mine, with an updated mineral resource estimate incorporating Golden Pole expected in the June quarter.
Ora Banda Managing Director Luke Creagh said the results "support the case for Waihi to be Ora Banda's third underground mine” and highlighted the new western lode as "an exciting zone for exploration."
Historically, Golden Pole produced approximately 77,000 ounces of gold at 29.6 g/t between 1900 and 1939, with previous drilling under-testing potential extensions—a gap Ora Banda is now systematically exploring.
At the time of reporting, Ora Banda Mining's share price was $1.60.