Round Dam Drilling Yields 62,000m of Gold Mineralisation Including 14m at 18.5g/t

Exploration Breakthrough at Round Dam

Ora Banda Mining Limited (ASX, OBM) has announced compelling results from its ongoing Phase 1 drilling program at the Round Dam Trend, located just 15 kilometres from the company’s Davyhurst processing mill. The drilling campaign has identified a large-scale gold mineralisation system extending over a 7-kilometre strike length, featuring continuous gold lodes and multiple high-grade mineralised shoots. This discovery opens the door to a potentially significant surface mining operation in a well-established gold district.

The Round Dam Trend is a well-known mineralised corridor within the Coolgardie Domain of the Kalgoorlie Terrane, historically underexplored at depth and along strike. Ora Banda’s systematic exploration approach has revealed up to six subparallel gold lodes, many of which were previously unrecognised, with encouraging continuity and grade. The current program involves 330 drill holes totaling 62,000 metres, with 53,000 metres completed to date, underscoring the scale and intensity of the exploration effort.

High-Grade Shoots and Bulk Tonnage Potential

Among the highlights are numerous significant intercepts demonstrating both high-grade shoots and bulk tonnage potential. Notable intercepts include intervals such as 14 metres at 18.5 grams per tonne, 7 metres at 35 grams per tonne, and 12 metres at 21.5 grams per tonne, alongside broader mineralised zones suitable for open pit mining. These results suggest that the Round Dam Trend is highly amenable to bulk mining methods, with the added upside of developing high-grade shoots that could enhance project economics.

Geological observations from the drilling program have refined the understanding of mineralisation controls, highlighting structural flexures and lithological contacts as key factors in localising gold. The identification of plunging high-grade shoots at deposits like Walhalla and Federal Flag provides targeted exploration priorities, with ongoing drilling aimed at extending these zones and testing underexplored areas along the trend.

Strategic Location and Growth Outlook

Crucially, the Round Dam Trend’s proximity to the existing Davyhurst processing infrastructure offers a strategic advantage, potentially enabling rapid resource development and cost-effective project advancement. Ora Banda’s Managing Director, Luke Creagh, emphasised the alignment of these results with the company’s $73 million FY26 exploration strategy, which focuses on projects capable of transitioning to production in a short timeframe.

The company’s approach leverages a combination of historical data and modern drilling techniques, including reverse circulation and diamond drilling, supported by rigorous sampling and assay protocols. While true widths of mineralisation remain to be fully defined, the downhole intercepts provide a robust foundation for resource estimation and mine planning.

Next Steps and Market Implications

Ora Banda is continuing its exploration and resource development drilling at Round Dam, with statutory approvals for mining progressing in parallel. The company’s ongoing work aims to refine geological models, confirm resource extents, and unlock further value from this promising gold system. For investors and analysts, these results reinforce Ora Banda’s position as a growth-focused gold explorer with tangible near-term development prospects.