Ora Banda Mining Ltd (ASX: OBM) shares are charging higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $1.415. In morning trade on Thursday, shares are changing hands for $1.480 apiece, up 4.6%.
For some context, the ASX 200 is down 1.0% at this same time.
This outperformance follows the release of a fresh batch of promising drilling results at the miner's Western Australian holdings.
And it comes after Ora Banda shares closed up a blistering 21.5% yesterday.
Investors piled into the stock on Wednesday after the company reported a 964% Mineral Resource increase at its Round Dam gold deposit to 25.6Mt @ 1.6g/t [25.6 million tonnes at 1.6 grams of gold per tonne] for 1.330 million ounces.
Now, here's what's catching investor interest today.
Ora Banda shares jump on drill results
This morning, the ASX 200 gold stock reported further exploration success at its high-grade Little Gem Prospect, located some 30 kilometres from Round Dam.
Ora Banda shares are charging higher after the miner revealed that the latest drilling has expanded the Little Gem Prospect's mineralised envelope to more than 1,500 metres of strike and 750 metres vertically below surface. And mineralisation is open in all directions
The miner said it is expanding its exploration window for further drilling and potential mineralisation following the recent discovery of the Sapphire Trend, just 200 metres east of Little Gem. Management said Sapphire presents a new potential lode system.
Ora Banda is aiming for a maiden Mineral Resource Estimate for Little Gem in the second half of calendar year 2026. Drilling remains ongoing.
Among the top drill results from the Little Gem Trend, the miner reported 10.0 metres @ 6.9 g/t, including 2.0 metres @ 26.9 g/t from one hole; and 6.0 metres @ 11.3 g/t, including 1.0 metres @ 60.0 g/t from another hole.
What did management say?
Commenting on the results helping lift Ora Banda shares today, managing director Luke Creagh said:
These outstanding drill results continue to confirm the scale and quality of the Little Gem system with recent gains from exploration step-outs at the Sapphire Trend and Sunraysia Prospect demonstrating the outstanding potential of this area.
The work we've been doing is a reminder of the enormous organic growth potential of our ground, and as part of this, we very much look forward to delivering a maiden Mineral Resource Estimate for Little Gem in the second half of CY26.
With today's intraday moves factored in, the Ora Banda share price is up 54% since this time last year.
The post Up 22% yesterday, Ora Banda shares leaping higher again today on 'outstanding' gold results appeared first on The Motley Fool Australia.
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