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Orion Gold NL
Summary
| Project: | Prieska Mine | |
|---|---|---|
| Deposit: | Kantienpan | |
| Location: | South Africa | |
| Commodities: | Copper-Zinc-Lead-Gold-Silver | |
| Date: | 12/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-12-2016: Orion Gold NL announces an Exploration/Drilling Update report for its Kantienpan deposit at the Prieska Mine project. Drilling results incl. 20.6m @ 1.36% Zn, 0.63% Cu, 0.11g/t Au from 156.1m. Orion Gold NL (ASX: ORN) is pleased to update on it | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Errol Smart (Internal) | |
| ABSTRACT: | Orion Gold NL (ASX: ORN) is pleased to update on its intensive, ongoing drilling program at its Areachap Belt Projects in the Northern Cape Province, South Africa. At the Kantienpan Zinc-Copper Deposit, the first diamond hole drilled to test the KN1 conductor delineated from a recent high-powered ground electromagnetic (EM) survey has intersected a wide zone of disseminated and massive sulphides. The KN1 conductor was modelled to be substantially larger and more conductive than the shallower conductor which was tested by historical drilling (refer ASX release 4 October 2016). OKND017 has confirmed that the KN1 conductor is a result of massive and disseminated sulphide mineralisation (see Figures 1 and 2). Sampling of the sulphide-bearing zones is underway, with analytical results anticipated in 2-3 weeks. A second drill hole, OKND016, is currently nearing the target interval. The mineralised package intersected in OKND017 comprised intervals of massive sulphides (principally, pyrhottite, pyrite, sphalerite and chalcopyrite) which are disrupted by a late quartz vein, clusters of disseminated sulphide veining and banded sulphides/stringers in a gneissic unit. Following completion of holes OKND016 and OKND017 (Figure 3), a further drill hole will be targeted between the two holes and further down-dip in the conductor. Both structural data and down-hole EM surveys, which are currently underway, will be utilised to optimise further follow-up drilling. The Kantienpan Deposit lies within the prospecting right held by Masiqhame Trading 855 Pty Ltd (Masiqhame), in which Orion has exercised its option to acquire a 50% interest (subject to regulatory approval) and under the option agreement can earn up to a 73% interest (refer ASX release 29 September 2016, Figure 6). | |
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