Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to report further outstanding assay results from the confirmation diamond drilling program in the Flat Mines area at its Okiep Copper Project (OCP) in the Northern Cape, South Africa.
The latest results add further momentum to Orion's development strategy for the OCP, building on the initial results reported on 22 April 2024 and 24 June 2024 including an intersection of 49.35m @ 5.05% Cu (refer ASX/JSE release 24 June 2024) at Flat Mine East (FME) among several other high-grade intersections confirming the geology and endowment of the Flat Mines Area.
Orion's Managing Director and CEO, Errol Smart, commented: 'Following our success in confirming the potential for high-grade copper mineralisation at Flat Mine East over the past month, the first assay results from Flat Mine South, located about 3km to the south-west of Flat Mine East have delivered further outstanding copper intercepts. These results show that the Flat Mines complex contains very high-grade copper sulphide mineralisation contained 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, and also down-dip and along trend of the blocks being included in the current mine plan. 'Our initial BFS that is nearing completion has only focused on immediately available JORC compliant Mineral Resources from FMN, FME and FMS. However, the potential to expand scale and extend the mine life lies at the core of why Orion invested in the Okiep district. Our aspirational target is to restore our Okiep properties to their historic production levels of 20,000 - 50,000 tonnes of copper production per annum, which previous owners maintained for over five decades. Our ongoing drilling results underscore this potential.'
The OCP ground holdings of 641km-2 cover most of the area where a total of 105Mt is reported to have been mined in the district over the past 100 years (refer ASX/JSE release 21 May 2021). The Flat Mines area and the current drilling program fall entirely within an executed Mining Right. Results received and reported in this announcement include the first two of the four planned holes at Flat Mine South (FMS). The assay results have confirmed historical information from drilling by Newmont and Goldfields of South Africa (Goldfields) in the 1980's and 1990's, used in the Mineral Resource update, where 9.4Mt at 1.3% Cu was reported for the Flat Mines including 3.4Mt at 1.4% Cu at FMS (refer ASX/JSE release 28 August 2023)
Flat Mines Confirmatory Drilling Program A diamond drilling program commenced in the Flat Mines area of the OCP in February 2024. A total of 11 diamond core drill holes were planned at FME, FMS and Flat Mine North (FMN) comprising a total of approximately 5,800m. This total includes a non-directional deflection for each hole. The program was designed to confirm historical drilling information and resultant interpretations, provide geotechnical information and deliver additional material for confirmatory metallurgical test work for the FMN, FME and FMS blocks included in the initial BFS mine schedule. The planned program is specifically designed to optimally cover the areas that contribute most significantly to the overall estimated Indicated Mineral Resource. All holes include a deflection (or wedge) through the mineralisation to provide the additional material for confirmatory metallurgical test work.
This is all within a broad zone of elevated copper of 32.32m at 0.63% Cu from 427.68m. Historical hole FMS012, located approximately 20m away from OFMSD076, intersected 34.80m at 0.74% from 447.90m. Historical hole FMS046, located approximately 20m away from OFMSD076, intersected 31.82m at 1.14% from 377.18m. Drill hole OFMSD077 returned an outstanding intercept of 20.50m at 4.99% Cu from 549.50m within 43.00m at 3.41% Cu from 527.00m. This is all within a broad zone of elevated copper, but inclusive of wider zones of internal waste and lower grade, of 62.00m at 2.51% Cu from 508.00m. Historical hole FMS053D1, located approximately 10m away from ODFMSD077, intersected 38.98m at 2.16% Cu from 574.45m. Significant widths of waste granitic material are included within the reported intersection widths, providing opportunities for upgrading of material through modern XRF ore sorting techniques to reject internal waste before milling. This provides the potential for optimised metal extraction with larger stopes operated at lower mining cost, while limiting concentrator capital and operating costs. On completion of the drilling program, the geological and mineralisation envelope interpretations will be reviewed and adjusted where necessary, followed by an update of the Mineral Resource Estimate including the new information. New geotechnical information will be used for input to mine design.
Contact:
Denis Waddell
Chairman Read Corporate
Tel: +61 (0) 3 8080 7170
Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Paul Matthews (Pr.Sci.Nat.), a Competent Person who is a member of the South African Council for Natural Scientific Professionals, a Recognised Professional Organisation (RPO). Mr Matthews is a full-time employee of Orion. Mr Matthews has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Matthews consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
ORION MINERALS LIMITED 
