Orion Minerals Limited: Okiep Copper Project Continues to Deliver Promising Results

  • Flat Mine South Assay Results: 20.5m at 4.99% Cu within 43m at 3.41% Cu.
  • High-Grade Potential: Results confirm high-grade copper potential, with mineralisation remaining open for 200m down-dip.
  • Early Production Plan: Flat Mine South to form a key part of Orion’s early production strategy for the Okiep Copper Project.

Orion Minerals Limited (ASX/JSE: ORN) has announced outstanding assay results from the first diamond drill holes completed at Flat Mine South. Drill hole OFMSD077 intersected 20.50m at 4.99% Cu within a broader interval of 43.00m at 3.41% Cu, reinforcing the high-grade potential of the Okiep Copper Project (OCP) in Northern Cape, South Africa.

Flat Mine South: A Virgin Discovery

Flat Mine South, a blind-to-surface discovery, will play a crucial role in Orion’s early production plans for the OCP. The intersections achieved to date support the geological and grade distribution interpretations used in the Mineral Resource modelling for the project.

Ongoing Drilling and Future Plans

Drilling continues to test the down-dip extension of high-grade mineralisation in an untested area encompassing 300m of strike and 200m down-dip extent. Confirmatory drilling has also commenced at Flat Mine (Nababeep), where an Inferred Mineral Resource of 1Mt at 1.4% Cu was reported in March 2021.

CEO Comments

Errol Smart, Managing Director and CEO of Orion, expressed optimism about the results, stating, “These results show that the Flat Mines complex contains very high-grade copper sulphide mineralisation within wider zones of moderate-grade intrusive. We are encouraged by the potential to rapidly add high-grade tonnes from near-surface bodies such as at Flat Mine Nababeep.”

Table 1: Current Drilling and Assay Status

ProspectHole IDDrilling StatusAssay Status
Flat Mine EastOFMED151CompleteReceived
Flat Mine EastOFMED152CompleteReceived
Flat Mine EastOFMED153CompleteReceived
Flat Mine EastOFMED154CompleteReceived
Flat Mine EastOFMED155CompleteReceived
Flat Mine SouthOFMSD076CompleteReceived
Flat Mine SouthOFMSD077CompleteReceived
Flat Mine SouthOFMSD078CompletePending
Flat Mine SouthOFMSD079CurrentPending
Flat Mine NorthOFMND242CompletePending
Flat Mine NorthOFMND243CompletePending

Recent Assay Results

Assay results from the first two holes at Flat Mine South are promising. Drill hole OFMSD076 returned 6.00m at 0.90% Cu from 454.00m within a broader zone of 32.32m at 0.63% Cu from 427.68m. Drill hole OFMSD077 provided an outstanding intercept of 20.50m at 4.99% Cu from 549.50m within a broader interval of 43.00m at 3.41% Cu from 527.00m.

Table 2: Summary of Drill Results for FMS Prospect

Hole IDFrom (m)To (m)Interval (m)% Cu
OFMSD076430.00439.009.000.70
446.00448.002.001.19
454.00460.006.000.90
OFMSD077527.00570.0043.003.41
including549.50570.0020.504.99

Strategic Development

The drilling program, commenced in February 2024, aims to confirm historical drilling information and interpretations, provide geotechnical data, and deliver material for confirmatory metallurgical test work for the FMN, FME, and FMS blocks included in the initial BFS mine schedule.

Expansion and Resource Upgrade

Three of the five drilling rigs have been retained on-site to increase the classification of JORC Resource blocks not yet included in the mine plan and to test extensions of high-grade mineralisation beyond current JORC Resource blocks. Historical data and recent drilling results indicate that high-grade mineralisation remains open down-dip for up to 200m within an untested area encompassing a strike length of 300m.

Conclusion

The ongoing drilling and confirmatory assays at the Okiep Copper Project continue to underscore its high-grade potential and significant resource expansion possibilities. Orion Minerals is well-positioned to achieve its goal of restoring Okiep properties to historic production levels, targeting 20,000 – 50,000 tonnes of copper production per annum.


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