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Orion Minerals Ltd.

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Summary

Project:

Prieska Mine

Deposit:Prieska
Location:South Africa
Commodities:Copper-Zinc
Date:5/26/2020
Report Code:JORC
Report Type:Feasibility Study
Project Stage:Pursuing Resource Increase/Upgrade
Report details:26-5-2020: Orion Minerals Ltd. announces a Feasibility Study report for its Prieska deposit at the Prieska Mine project. Feasibility Study results incl. post-tax NPV (8%) of A$552M and IRR of 33%. The Bankable Feasibility Study (BFS) reported in this Anno
Resources:(Reserves, Prob.): 14.0Mt @ 1.0% Cu, 3.2% Zn
CP/QP:[Resource]: Sean Duggan (Z Star Mineral Resource Consultants (Pty) Ltd.)
ABSTRACT:The Bankable Feasibility Study (BFS) reported in this Announcement determines the commercial viability of establishing mining and ore processing operations on the Prieska Copper-Zinc Project (the Project). The BFS has been prepared to an estimation accuracy level of ± 15%. It contains Production Targets and forecast financial information supported by a combination of Probable Ore Reserves, Indicated Mineral Resources and Inferred Mineral Resources, all classified and disclosed in compliance with ASX Listing Rules and JORC Code (2012) reporting standards. Orion is satisfied that the portions of Inferred Mineral Resources included in the Production Targets (never more than 35% of the mining plan) are not the determining factor in Project viability and do not feature as a significant portion early in the mining plan. Note that there is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the portion of the production target reliant on Inferred Mineral Resources will be realised

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