Ora Banda Mining Ltd has started underground mining at the Waihi project in Western Australia, shifting from open-pit preparation to decline development three kilometres west of the Davyhurst processing plant.

The start at Waihi follows previous underground developments at Riverina and Sand King over the last three years. The operation is the third underground mine launched by the company in that timeframe and forms part of Ora Banda's DRIVE to 300 strategy, which targets production of 300,000 ounces in FY29.

Underground access begins through a decline portal established within the Waihi open pit, targeting the high-grade Golden Pole lode, which carries an Ore Reserve grade of 5.0 g/t. Ora Banda schedules first ore production from the underground mine to contribute from mid-CY2027. This high-grade feed is intended to offset reduced processing volumes and de-risk production ahead of commissioning a new 3.0 Mtpa processing plant at Davyhurst in early CY2028.

“Once again, it's a credit to the OBM team and business partners to rapidly identify an opportunity and turn it into a mine. We are excited to have commenced underground mining at Waihi, Ora Banda's third underground mine and a key pillar of our DRIVE to 300 strategy.”

— Luke Creagh, Managing Director

Alongside the decline start, step-out drilling approximately 500 metres south of the Waihi portal has defined the Midnight Prospect, formerly known as Dexy. Current diamond drilling has returned a materially wider and higher-grade intercept of 11.5 metres at 26.0 g/t gold, including 8.9 metres at 32.4 g/t. That result compares with historical drilling at Midnight that intersected 5 metres at 11.04 g/t gold.

The current 2,850-metre diamond drilling program aims to identify structural controls on the mineralisation and test down-plunge potential. Underground drill drives will be established from the Waihi decline to allow rapid follow-up drilling on both Golden Pole and Midnight.

“Importantly, Waihi will deliver high-grade ore from mid-2027 ahead of the scheduled delivery of our 3.0 Mtpa processing plant at Davyhurst.”

— Luke Creagh, Managing Director

Meanwhile, Carnegie Gold staked six new mineral tenements near the project between 12 August 2026 and 8 September 2026 as exploration activity continues to expand across the surrounding district.

Read the full announcement: Waihi Underground Commenced