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Update: Ora Banda Mining Says Western Australia Prospect Drilling Expands Newly Discovered Lode; Shares Up 7%

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(Updates to add stock movement in the headline and last paragraph)

Ora Banda Mining (ASX:OBM) said drilling at the Little Gem prospect in Western Australia expanded the newly discovered Sapphire lode over more than 2.6 kilometers of strike, according to a Friday Australian bourse filing.

Mineralization along both the Gem and Sapphire lodes remains open at depth and along strike. It encountered intercepts of 18 meters at 3.4 grams per tonne grade of gold and 16.1 meters at 3.5 g/t grade of gold.

The firm is targeting a mineral resource for the prospect later in the year.

The company's shares rose past 7% in recent Friday trade.

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