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Orion Minerals Ltd.
Summary
| Project: | Prieska | |
|---|---|---|
| Deposit: | Prieska | |
| Location: | South Africa | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 12/18/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2018: 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: “This pivotal Resource upgr | |
| Resources: | (Resource, I+I): 28.726Mt @ 3.77% Zn, 1.16% Cu | |
| CP/QP: | [Resources]: Sean Duggan (ZStar Mineral Resource Consultants (Pty) Ltd.) | |
| ABSTRACT: | Orion’s Managing Director and CEO, Errol Smart, commented: “This pivotal Resource upgrade provides a strong foundation for our strategy to fast-track the development of a state-of-the-art base metals operation at Prieska next year. This is an outstanding result for our shareholders, which demonstrates the success of the 85,000m infill drilling program completed over the past 18 months. The higher-confidence Indicated component of the Resource has increased from zero to 18.5 million tonnes, a result which has exceeded our expectations for the area where we completed infill drilling. This very high conversion rate is testament to the exceptional quality and consistency of this deposit, and the Indicated Resource will now form the cornerstone of our Bankable Feasibility Study due for completion in Q2 next year. However, it is also important to note that the thick, high-grade intersections on the margins of the resource area present compelling expansion targets. This near-mine exploration upside, when combined with the opportunity to upgrade additional Inferred Resources with future underground drilling and the broader potential of the emerging VMS field, puts Orion in an outstanding position to realise its objective of becoming a significant new player in the global base metals industry, with the development of the Prieska Deposit and exploration of the Areachap Belt.” Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to announce an update to the Deep Sulphide Mineral Resource estimate at its Prieska Zinc-Copper Project (Prieska Project) in the Northern Cape, South Africa, providing a strong foundation to its ongoing Bankable Feasibility Study (BFS) and fast-tracked development strategy. | |
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