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Orion Minerals Ltd.
Summary
| Project: | Prieska | |
|---|---|---|
| Deposit: | Prieska | |
| Location: | South Africa | |
| Commodities: | Copper-Zinc | |
| Date: | 6/24/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-6-2019: Orion Minerals Ltd. announces a Feasibility Study report for its Prieska deposit at the Prieska project. BFS results incl. pre-tax NPV (8%) of AUD574M, IRR of 38%, initial reserves. Orion Minerals Ltd (ASX/JSE: ORN) (Orion or Company) is please | |
| Resources: | (Reserve, Prob.): 13.62Mt @ 1.1% Cu, 3.2% Zn | |
| CP/QP: | [Overall Report]: William Gillespie (A & B Global Mining Consultants) | |
| ABSTRACT: | Orion Minerals Ltd (ASX/JSE: ORN) (Orion or Company) is pleased to present the outcomes of a Bankable Feasibility Study for the Foundation Phase of its Prieska Copper-Zinc Project (Prieska Project or Project), located in the Northern Cape Province of South Africa (BFS or Study). The Study confirms the potential of the Prieska Project to underpin a significant near-term, low-cost, copper and zinc development project, with exceptional opportunities for future growth. Based on Study assumptions, the Project will provide excellent financial returns, for a relatively modest capital investment, given the scale of operations envisaged and the fact that the new production hub is located within a highly-endowed but underexplored volcanic massive sulphide (VMS) district, with significant long-term exploration potential. The BFS investigated the commercial viability of a mining plan for the Foundation Phase aimed at establishing mine infrastructure and operational capacity that is intended to establish the platform for further mining of deposit extensions and the exploration and mine development of neighbouring prospects (Foundation Phase). The Foundation Phase runs for 10 years of run-of-mine production at a design ore processing rate of 2.4Mtpa. This phase targets the exploitation of those portions of the Prieska deposit that were upgraded to Indicated and Inferred Mineral Resources from the first surface-based drilling campaign conducted between 2017 and 2018. The Production Target is composed of 65% Probable Ore Reserves and 35% Inferred Mineral Resources, with Ore Reserves predominating during the early stages of the mining plan. Both underground and surface mining methods are planned to be used in conjunction with conventional frothflotation concentration to produce differentiated copper (Cu) and zinc (Zn) concentrates for export. | |
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