Little Gem Gold Discovery
Ora Banda Mining Expands Little Gem Prospect with High-Grade Gold, Targets Maiden Resource
Anonymous
Key Points
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June quarterly results underscored Ora Banda’s financial strength amid the Little Gem growth, with record quarterly production of 39,552 ounces and full-year output of 140,949 ounces, plus cash of A$267.7 million and total liquidity of A$468 million. The group’s resources rose to about 3.69 million ounces and reserves to about 610,000 ounces.
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A new milestone at Little Jewel: a 1.2-metre interval at 25.6 g/t gold was reported, extending the Sapphire lode’s footprint south from the British Lion area to Little Jewel and reinforcing the Sapphire strike at more than 2.6 kilometres.
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Davyhurst project context expanded: Little Gem sits within Ora Banda’s 100%-owned Davyhurst gold project, with the Riverina underground mine nearby and a plan to build a new 3 million-tonne-per-annum processing plant as part of the DRIVE to 300 growth strategy.
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Exploration scale and mining potential: more than 360 drill holes have been completed between Little Gem and Sunraysia, with results continuing to support open-pit and underground mining opportunities as the resource grows.
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Geology of the Sapphire/Gem system: the Sapphire lodes appear as several parallel lodes with moderately southerly plunging high-grade shoots, hosted in carbonate lenses within sedimentary rocks, adding complexity and potential for high-grade shoots within the wider system.
Ora Banda Mining has expanded its Little Gem gold discovery near Kalgoorlie, with the newly named Sapphire lodes now stretching more than 2.6 kilometres of strike and reaching about 200 metres depth, according to The West. Best new drill hits include 5 metres at 18.1 grams per tonne gold and 2 metres at 44.3 g/t — signalling a system with serious high-grade potential.
Shares jumped around 7% on the news, according to Kalkine, as investors responded to a growing discovery that sits inside Ora Banda's 100%-owned Davyhurst gold project. The company is now targeting a maiden Mineral Resource Estimate for Little Gem by late 2026.
Sapphire Lodes Grow Wider, Deeper and Higher Grade
Drilling has defined several parallel Sapphire lodes to about 200 metres below surface, all open along strike and down dip, according to Bulls N Bears. The lodes sit in carbonate lenses inside sedimentary rocks and contain moderately south-plunging high-grade shoots — a geology that points to more high-grade intercepts as drilling continues deeper.
Standout results from the latest program include 1 metre at 84.8 g/t inside the 5-metre hit, and 1 metre at 86.4 g/t inside the 2-metre interval. A new southern extension at Little Jewel also returned 1.2 metres at 25.6 g/t, pushing the Sapphire footprint further south from the British Lion area, Countryman reported.
Nearby Gem Lode Already Spans 4.7 Kilometres of Strike
The adjacent Gem lode system is even more advanced. It now runs about 4.7 kilometres of strike to 750 metres depth. Recent intercepts there include 18 metres at 3.4 g/t and 16.1 metres at 3.5 g/t, with a bonanza hit of 0.5 metres at 90.4 g/t sitting inside a 1.5-metre interval, according to The West.
Together, Little Gem and Sunraysia have seen more than 360 drill holes completed. Results continue to support both open-pit and underground mining options, Narrogin Observer reported. The scale of the combined system is what is driving the company toward a formal resource estimate.
Record Production and A$468 Million in Liquidity Back the Plan
Ora Banda's June quarterly results showed the company in strong financial shape. It produced a record 39,552 ounces in the quarter and 140,949 ounces for the full year. Cash on hand stood at A$267.7 million, with total liquidity reaching A$468 million, according to Kalkine.
Group resources grew to about 3.69 million ounces, with reserves at about 610,000 ounces. The company is building toward what it calls its DRIVE to 300 strategy — a plan to become a 300,000-ounce-per-year producer with a new 3 million-tonne-per-annum processing plant at the Davyhurst project, Bulls N Bears reported.
Gold Price Backdrop Fuels Investor Interest in Late July Rally
The Little Gem expansion landed during a strong run for gold prices, adding fuel to the share price move. Kalkine noted the roughly 7% single-day gain came as investors connected growing resource potential with a favourable gold market. A maiden resource estimate targeted for late 2026 gives the market a clear near-term catalyst to watch.
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