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Orion Minerals Ltd.
Summary
| Project: | Prieska | |
|---|---|---|
| Deposit: | Prieska | |
| Location: | South Africa | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 11/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-11-2018: Orion Minerals Ltd. announces an Exploration/Drilling Update report for its Prieska deposit at the Prieska project. Drilling results incl. 32.0m @ 1.70% Cu, 5.05% Zn, 0.30g/t Au, 15.32g/t Ag from 1063.0m. Orion’s Managing Director and CEO, Erro | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: JE Potgieter (Internal) | |
| ABSTRACT: | Orion’s Managing Director and CEO, Errol Smart, commented: “The receipt of these final impressive assay results from the Prieska Deep Sulphide drill-out is a significant milestone for Orion. Importantly, this allows us to press ahead with the re-estimation and upgrade of the current Mineral Resource, scheduled for completion by mid-December, with the objective of upgrading a substantial portion of the current Inferred Resource to a higher category Resource. At the same time, the extensive drilling program has clearly demonstrated the substantial upside at Prieska, given the identification of significant additional massive sulphide and gold-rich target areas that have potential to add to the resource base and further enhance this already robust project.” Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to announce that it has received the final assay results for the recently completed resource drilling program on the Deep Sulphide Mineral Resource at its Prieska Zinc-Copper Project (Prieska Project), located in the Areachap Belt in South Africa’s Northern Cape Province. A total of more than 4,000 assay results from drill core samples have been received for the program, which was completed on schedule on 30 October 2018, ahead of the planned resource update of the Deep Sulphide Mineral Resource at Prieska. Final assay results have now been received for 17 intersections reported on in this release – 14 from the Vardocube Prospecting Right and 3 from the Repli Prospecting Right (of which one was drilled on the +105 Resource) (see Figures 1, 2, 3, 4 and 5). The in-fill drilling program was primarily designed to increase the sample density for the Deep Sulphide Mineral Resource, with the objective of upgrading the previously reported Deep Sulphide Inferred Resource of 27.8Mt grading 3.92% Zn and 1.22% Cu for the Vardocube and Repli Prospecting Rights (refer ASX release 9 April 2018). | |
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