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Ora Banda Mining Ltd (ASX:OBM)

ALERT: Price-sensitive ASX Announcement for OBM
Current share price for OBM : $1.290 0.01 (0.78%)+
Announcement
Release
23 Oct 2025 8:16AM
Price at Release
$1.280
Full Release
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Summary
Ora Banda Mining Ltd reported significant exploration advancements at its Little Gem and Riverina projects. At Little Gem, ongoing drilling has so far resulted in the completion of 80 holes spanning over 29,000 meters, with mineralisation found to be linear and predictable. The primary focus remains on the high-grade Diamond and Ruby lodes, with further Phase 4 drilling planned to refine resource estimates. Meanwhile, the Riverina project continues to reveal a robust mineralised system extending beyond 1,000 meters vertically, reinforcing confidence in the mine's potential longevity. These developments highlight the promising high-grade gold intercepts found at both locations.
Key Points
  • Ora Banda Mining Ltd (OBM) has announced continued exploration success at the Little Gem prospect and Riverina Gold Camp.
  • At Little Gem, 80 drill holes have been completed over 29,000 meters since the discovery in September 2024.
  • The mineralisation at Little Gem displays linear characteristics and is predictable.
  • High-grade gold lodes, known as Diamond Lode(s) and Ruby Lode(s), are central focuses of the exploration.
  • Phase 3 of drilling at Little Gem is nearing completion with approximately 50% of assays returned.
  • Phase 4 drilling is set to commence in January 2026, aiming for a Maiden Mineral Resource Estimate later that year.
  • At Riverina Deeps, surface and underground drilling have extended the mineralised system beyond 1,000 vertical meters.
  • Significant drill results include high-grade intercepts with notable gold concentrations at both Little Gem and Riverina sites.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.