Ora Banda Mining Ltd (ASX: OBM) has released impressive new drilling results from its Little Gem Prospect, expanding the strike length of the Sapphire lode to over 2.6km and returning multiple high-grade gold intercepts across both the Gem and Sapphire lodes.
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What did Ora Banda Mining report?
- The newly discovered Sapphire lode now extends more than 2.6km in strike, with multiple parallel lodes defined down to 200m depth and open in all directions.
- Over 360 drill holes have been completed between Little Gem and Sunraysia, with ongoing drilling at Little Gem focused on further expansion.
- Recent highlighted intercepts include 5.0m @ 18.1g/t (including 1.0m @ 84.8g/t), 7.0m @ 10.1g/t, and 13.0m @ 3.2g/t from the Sapphire lode.
- The Gem lode system is now defined over 4.7km of strike, to depths of around 750m, with recent intercepts such as 16.1m @ 3.5g/t (including 2.1m @ 21.6g/t).
- A maiden Mineral Resource Estimate (MRE) for the Little Gem Prospect is on track for late CY2026.
What else do investors need to know?
Exploration continues to reveal the scale and potential of the Little Gem and Sapphire lodes, with both systems remaining open at depth and along strike. The new drill results show consistently high grades and notable widths, supporting both open pit and potential underground mining options.
Ora Banda has also updated the mineralisation naming conventions at Little Gem, aiming to simplify future reporting and better reflect the geological style. Drilling will remain a key focus for the company throughout the coming months as it targets further growth, especially ahead of the maiden MRE.
What did Ora Banda Mining management say?
Managing Director Luke Creagh said:
We continue to be excited by the ongoing exploration success across the Little Gem prospect, with the discovery and subsequent expansion of the system along the Sapphire lodes supporting its potential to host substantial, high grade gold mineralisation. Exploration activity continues to progress at pace across Little Gem, with the team on track to deliver a maiden Mineral Resource estimate later this calendar year.
What's next for Ora Banda Mining?
All eyes are on further drilling results and the upcoming maiden Mineral Resource Estimate at the Little Gem Prospect, due late 2026. Ora Banda says follow-up exploration is planned to extend mineralisation at depth and along strike, while also evaluating open pit and underground mining potential. Ongoing work aims to unlock additional value across the broader project area.
Ora Banda Mining share price snapshot
Over the past 12 months, Ora Banda Mining shares have risen 62%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
