Ora Banda Drilling Confirms Golden Pole’s High-Grade Mining Potential Ahead of June Resource Update

High-Grade Drilling Reinforces Golden Pole’s Underground Prospect

Ora Banda Mining Limited (ASX:OBM) has confirmed the significant underground mining potential of its Golden Pole Lode 1 at the Waihi Project following a successful 22-hole drilling campaign completed in early 2026. The program returned a series of thick, high-grade gold intercepts, including eye-catching results such as 3.0 metres at 44.0 grams per tonne (g/t), 11.3 metres at 10.5 g/t, and 7.0 metres at 16.9 g/t. These outcomes build on earlier strong results from late 2025 and early 2026, accelerating Golden Pole’s first-ever inclusion in the updated Mineral Resource and Ore Reserve Estimates due in the June quarter.

The Waihi deposit, located just three kilometres west of Ora Banda’s Davyhurst processing plant, is being positioned as a potential third underground mine. This follows the company’s recent record quarterly gold output and cash flow performance, where aggressive growth was underpinned by a tenfold increase in its Round Dam resource, reflecting Ora Banda’s expanding footprint in the region.

New Structural Insights and Parallel Shoot Discovery

The drilling has not only confirmed mineralisation continuity beneath the historical Golden Pole workings but also revealed a new parallel high-grade shoot to the south, which remains open for further extension. The three lodes, Golden Pole lodes 1, 2, and 6, strike northwest at approximately 320 degrees azimuth, a departure from the predominantly north-south orientation seen elsewhere at Waihi. This NW strike aligns with the high-grade Lady Georgina shoot mined in the Waihi south pit, suggesting that these structures may host better widths and grades.

Importantly, Lode 2 exhibits strong structural and grade continuity, highlighting its underground mining viability. Meanwhile, Lode 6 represents a newly discovered lode east of the historical workings, expanding the exploration window significantly to the southeast. This structural reinterpretation opens fresh avenues for resource growth beyond the current footprint.

Historical Context and Exploration Rigor

Golden Pole was historically mined between 1900 and 1939, producing approximately 77,000 ounces of gold at an average grade of 29.6 g/t from 81,000 tonnes of ore via underground methods. Previous operators conducted limited drilling on potential extensions, leaving considerable scope for Ora Banda to expand the mineralised system. The current drilling program, supported by detailed geological logging and modern assay techniques, adheres to industry standards and includes rigorous quality control measures.

Ora Banda’s Managing Director, Luke Creagh, emphasised the rapid transition from exploration target to near-term development opportunity: “These excellent drill results build on the rapidly growing body of work at Waihi and we’re moving to incorporate these into an updated Waihi underground Mineral Resource and Ore Reserve Estimate scheduled for release this quarter.”

Geological Controls and Future Exploration Potential

The Waihi stratigraphy comprises predominantly tholeiitic and komatiitic basalts interlayered with sedimentary units that localise high-strain deformation zones. Gold mineralisation is structurally controlled, primarily hosted within ductile shear zones and overprinted quartz veins, which create favourable sites for high-grade shoots. The new drilling results confirm that these structural controls are delivering significant mineralisation thickness and grade.

Looking ahead, Ora Banda plans to convert inferred resources to indicated status through additional drilling and explore extensions to the south and east of Waihi. These efforts are part of a broader strategy that has recently seen the company achieve record production and resource growth, as demonstrated by its record quarterly gold output and the Round Dam resource expansion.