Ora Banda Mining intersects first ore

Ora Banda Mining (ASX:OBM) has announced the successful intersection of its first ore at the Sand King Underground mine, part of the Davyhurst Gold Project. This achievement comes just four months after the portal's establishment and is aligned with the company's DRIVE TO 150 Project goals.

Sand King Underground mine development summary

Ora Banda Mining (ASX:OBM) has reached a critical milestone by intersecting its first ore at the Sand King Underground mine, part of their Davyhurst Gold Project. This forms a pivotal part of their DRIVE TO 150 Project, targeting an annual gold production of 140,000 to 160,000 ounces by FY26. To date, the project has accomplished 427 decline meters and 835 total development meters, with favorable ground conditions aiding progress. A significant underground diamond drilling program is in motion, with 5,477 meters completed, confirming high-grade lodes and bulk tonnage prospects. Surface exploration has further expanded high-grade ore structures at Sand King North. With a $39 million investment, primarily funded through existing cash flows and reserves, the project is on track to commence stoping by March 2025 and achieve steady-state production by June 2025. The successful development of Sand King marks a strategic shift for Ora Banda, expected to enhance its production profile and cash flow significantly.

Executive commentary on Sand King milestone

The mine is on track to deliver its first stoping ore by the March 2025 quarter and reach steady-state production of approximately 60,000 ounces per annum by the June 2025 quarter.