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Orion Gold NL
Summary
| Project: | Marydale | |
|---|---|---|
| Deposit: | Marydale | |
| Location: | South Africa | |
| Commodities: | Gold-Copper | |
| Date: | 10/5/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-10-2016: Orion Gold NL announces an Exploration/Drilling Update report for its Marydale deposit at the Marydale project. Drilling results incl. 25m @ 1.81g/t Au, 0.31% Cu from 67.5m. Orion Gold NL (ASX: ORN) is pleased to report further positive results | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Errol Smart (Internal) | |
| ABSTRACT: | Orion Gold NL (ASX: ORN) is pleased to report further positive results from ongoing exploration programs at the Marydale Gold Project, part of its portfolio of projects within the Areachap Belt in the Northern Cape Province of South Africa (Figure 5). The Marydale Gold Project is being acquired as part of Orion’s option to acquire Agama Exploration & Mining (Pty) Ltd (Agama), the owner of 73.3% of the PC Project covering the historical Prieska Copper Project. Orion recently completed a highly successful maiden drilling program at Marydale which returned thick intercepts in OWCD032 (64m at 1.55g/t Au and 0.26% Cu including several higher grade zones) and OWCD033 (25m at 1.81g/t Au and 0.31% Cu including several higher grade zones). In light of the success of this program, the Company has been undertaking trial high-powered induced polarisation (IP) surveys across the broader project area, where previous exploration defined numerous geochemical and geophysical anomalies (Figure 1). The IP survey has successfully delineated several strong, shallow chargeability features (Figures 1 and 4) which are interpreted to be related to the goldcopper mineralisation intersected in recent drilling (Figure 2). In addition, the IP survey has delineated highly prospective, deeper anomalies in both the chargeability and resistivity data which have not previously been identified in surveying or tested by drilling. | |
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