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Orion Minerals Ltd.
Summary
| Project: | Prieska | |
|---|---|---|
| Deposit: | Prieska | |
| Location: | South Africa | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 1/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-1-2019: Orion Minerals Ltd. announces a Resource Estimation report for its Prieska deposit at the Prieska project. Updated mineral resource estimate at the project. Orion’s Managing Director and CEO, Errol Smart, commented: “The completion of the first | |
| Resources: | (Resource, I+I): 30.488Mt @ 3.7% Zn, 1.2% Cu | |
| CP/QP: | [Resources]: Sean Duggan (ZStar Mineral Resource Consultants (Pty) Ltd.) | |
| ABSTRACT: | Orion’s Managing Director and CEO, Errol Smart, commented: “The completion of the first ‘global’ Mineral Resource for Prieska, encompassing all 2018 drilling data, is a great way to start 2019. The total Mineral Resource for the Project now stands at over 30 million tonnes, cementing its position as one of the more significant new VMS development projects globally and highlighting its potential to underpin a substantial, long-life mining operation. The total Mineral Resource includes an updated Mineral Resource for the +105m Level Open Pit Target, which was not included in the robust Scoping Study on the Phase 1, 10-year project announced just before Christmas. While the +105m Level Mineral Resource will be included in the Bankable Feasibility Study which is due for completion in Q2 this year, it is important to note that this deposit will only be scheduled for mining as part of our Phase 2 operations later in the life of the project. Our focus remains squarely on the Deep Sulphide Mineral Resource, which will underpin the first decade of operations at Prieska and play a pivotal role in the Company’s imminent transformation into a significant base metals developer this year. Near-mine exploration of the extensions to the Deep Sulphide Resource and satellite discoveries, such as those announced before Christmas, provides potential to extend life of mine or increase annual production in the future.” Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to announce an updated total Mineral Resource comprising Indicated and Inferred Resources of 30.49Mt grading 3.7% Zn and 1.2% Cu at its Prieska Zinc-Copper Project (Prieska Project) in the Northern Cape, South Africa, following the completion of an updated Mineral Resource estimate for the +105m Level Target (Open Pit) (Figure 1). | |
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