Ora Banda Mining (ASX:OBM) announced a transformative update to its mineral resource estimate at the Round Dam deposit, marking a pivotal milestone in the company’s FY26 organic growth strategy.
Following an intensive initial drilling phase, the Round Dam resource has surged by a staggering 964%, now standing at 25.6 million tonnes at 1.6g/t for 1.33 million ounces of gold.
The uplift has bolstered Ora Banda's global resource inventory by 57%, bringing the group’s total to 3.3 million ounces.
The updated Round Dam MRE is comprised of 7.2Mt at 1.8g/t (408 koz) in the indicated category and 18.2Mt at 1.6g/t (922 koz) in the inferred category.
The entire resource is deemed suitable for open-pit mining, with pit shells demonstrating positive cash flow at a gold price of $5,000/oz using a 0.3g/t cut-off grade.
The company's exploration remains in full swing, supported by a $73 million budget for approximately 330km of drilling throughout FY26.
Round Dam remains open along strike and at depth, with ongoing drilling focused on further resource extension and category conversion.
The deposit sits within an 18km mineralised trend that Ora Banda considers to be in the early stages of exploration.
At the time of reporting, Ora Banda Mining's share price was $1.39.