Ora Banda Mining announced progress and results from its Davyhurst Gold Project, highlighting the ongoing achievements in its Riverina and Sand King underground mines.
At the Riverina site, infill drilling has confirmed the high-grade and consistent nature of the ore lodes.
Results from 122 holes showed gold intercepts in 102 instances, including 45 intercepts above 20 gram-metres.
Additionally, a second underground diamond rig is set to commence in mid-September to speed up resource extension efforts, with two surface rigs expected to start early in the December quarter.
Mining activities at Riverina remain on track, meeting developmental and stoping performance expectations.
Ora Banda's Managing Director, Luke Creagh, expressed optimism, "As mining and drilling progress at Riverina, our confidence is growing that we are only at the very early stages in unlocking what is presenting as a large and high-grade system."
Simultaneously, at the Sand King underground mine, operations have commenced with the portal established and decline advancing well.
Recruitment for necessary operational management and technical staff is on track, with the first development ore expected in the December quarter and the first stoping ore in the March 2025 quarter.
"Ora Banda's strategy is unfolding well," added Creagh. "Commencing Sand King is an exciting time for the Company, demonstrating commitment to our strategy and placing us on the path to deliver 140,000 to 160,000oz in FY26."
The Sand King mine aims for a stable production rate of 60,000 ounces per annum by the June 2025 quarter.
At the time of reporting, Ora Banda Mining’s share price was $0.59.