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Orion Minerals Ltd.
Summary
| Project: | Prieska | |
|---|---|---|
| Deposit: | Prieska | |
| Location: | South Africa | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 2/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-2-2018: Orion Minerals Ltd. announces a Resource Estimation report for its Prieska deposit at the Prieska project. Clarrified report including further information in appendix 1. Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to prov | |
| Resources: | (Resource, I+I): 24.16Mt @ 3.47% Zn, 1.23% Cu, 0.21% Au, 9.36g/t Ag at Prieska | |
| CP/QP: | [Resources]: Sean Duggan (ZStar Mineral Resource Consultants (Pty) Ltd.) | |
| ABSTRACT: | Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to provide clarification on the announcement of 5 February 2018 for the maiden Mineral Resources for the Prieska Zinc-Copper Project (Prieska Project). The Mineral Resources stated in Table 1 are for drilling data available as at 31 December 2017. The Mineral Resources are quoted in compliance with the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012) with supporting information in Appendix 1. Further drilling will be carried out during the first half of 2018 to upgrade the confidence classification of a substantial portion of the global Mineral Resource. “This maiden Mineral Resource for Prieska far exceeds our original expectations for the target tested and demonstrates that the Prieska Project can be classified as a giant VMS body. It also demonstrates the value of modern exploration techniques and methodology applied to high quality, under-explored deposits. As we intensify our regional exploration, having recently completed a regional airborne electromagnetic survey, we are confident of success in making further major discoveries in the Areachap Belt.”Orion has now completed approximately 42,000m of drilling on the Deep Sulphide Target and has succeeded in validating extensive historic data for inclusion in geological modelling and geostatistical estimation. Orion also looks forward to updating the Mineral Resource for the NW Trough Target and the SE Target (orange area on Figure 1) areas with inclusion of additional intersections recently announced (refer ASX release 1 February 2018) and assays from 6 additional holes currently underway. Results from these holes are expected by the end of February 2018. Drilling will continue to infill the areas shown in blue on Figure 1 as a priority. | |
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