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Orion Gold NL
Summary
| Project: | Marydale | |
|---|---|---|
| Deposit: | Marydale | |
| Location: | South Africa | |
| Commodities: | Gold-Copper | |
| Date: | 8/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-8-2016: Orion Gold NL announces an Exploration/Drilling Update report for its Marydale deposit at the Marydale project. Drilling results incl. 64m @ 1.55g/t Au, 0.26% Cu from 22m. Orion Gold NL (ASX: ORN) is pleased to advise that it has confirmed the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Errol Smart (Internal) | |
| ABSTRACT: | Orion Gold NL (ASX: ORN) is pleased to advise that it has confirmed the significant potential of the emerging Marydale Gold-Copper Project, part of its mineral portfolio in South Africa's Northern Cape Province after receiving outstanding results from the first diamond drill-hole to be completed at the project. Assay data has been received from OWCD032, the first of the two completed drill-holes at Marydale, with a thick intersection of 64m at 1.55g/t gold and 0.26% copper returned from 22m down-hole. This intersection includes a higher grade interval of 21m at 2.93g/t gold and 0.34% copper including 5m at 5.09g/t gold and 0.37% copper (see Figures 1 and 2). The broad zones of mineralisation intersected in this hole are consistent with historical drilling. The Marydale Project is a virgin gold discovery of possible high sulphidation epithermal origin within the Areachap Belt, over which Orion holds an option (refer ASX Release 13 May 2016). Orion is accumulating a substantial mineral portfolio within this belt with exposure to zinc, copper, gold, nickel-copper + PGE across a number of mineral rights area. Orion’s recent drilling has focused on obtaining oriented drill core through the higher grade zones intersected in historical drilling. Structural geological data from these holes is being used to generate a robust geological model for the prospect. The new intersections compare favourably with the following historic results, adjacent to OWCD032. | |
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