Wrap Text
Strong New Copper Intercepts Indicate Significant Additional Potential of Flat Mine South - Okiep Project
Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
Strong New Copper Intercepts Indicate Significant Additional Potential of Flat Mine South – Okiep
Project
Assay results including 40.52m at 1.34% Cu confirm significant strike and down-dip extensions, with an
expanded project scope being incorporated in the Feasibility Study, due in early 2025
• Assay results received for diamond drill hole OFMSD083 at Flat Mine South, which returned a significant
broad intercept of strong copper mineralisation:
• 40.52m at 1.34% Cu including 18.52m at 2.00% Cu, confirming a 45m strike extension to the west
of the previously reported high-grade copper mineralisation.
• Assay results also received from diamond drill hole OFMSD082, which returned a strong intercept well
below previous drilling:
• 5.52m at 1.86% Cu, 170m down-dip of previously reported high-grade copper mineralisation.
• A ground geophysical program is currently in progress in the Flat Mines area using techniques not
available to historical workers and is providing compelling indications of the potential for mineralisation
analogous to the famous Carolusberg Deeps deposit at Okiep.
• The positive results from ongoing exploration have resulted in a strategic decision to investigate
changing the primary access and ore handling strategy for FMS. Results of the updated engineering
studies will be incorporated in the BFS, now scheduled for release in January 2025.
Orion's Managing Director and CEO, Errol Smart, commented:
"Our latest drilling results from Flat Mine South show that this deposit is stacking up to become a major growth
hub for the Okiep Copper Project. Recent drilling supported by interpretation of geophysical surveys have
identified remarkable vertical persistence of strong copper mineralisation, and the drilling has not yet tested the
most prospective horizon.
"The vertical continuity of Flat Mines South indicates a well-developed steep structure that is a key component
for large- tonnage intrusive mineralisation in the district. The deposits with the largest scale and highest-grade
mineralisation in the district have historically been encountered in well-developed steep structures, where they
traverse the interval 250m above the Springbok Quartzite.
"Our interpretation of ground geophysics and SkyTEMTM airborne survey data has allowed us to predict the depth
of this highly prospective horizon – and shows that we are now drilling at the upper reaches of the zone. En
echelon offsets with large blows of mineralisation at the Springbok Quartzite contact are typical at the largest
known deposits in the Okiep Copper District.
"We have therefore taken the strategic decision to investigate the redesign the Flat Mine South primary mine
access and ore handling strategy. The results will be incorporated in the Bankable Feasibility Study, which is now
scheduled for release in January 2025."
Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to report final assay results from diamond
drill holes completed to test strike and down-dip extensions of the high-grade copper mineralisation at the Flat
Mine South (FMS) deposit, part of the 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
outstanding outcomes of the recently completed confirmation drilling program, which has confirmed the
geology and endowment of the Flat Mines area (refer ASX/JSE releases 22 April 2024, 24 June 2024, 9 July 2024,
3 September 2024 and 23 October 2024).
The OCP ground holdings of 703km² cover most of the Okiep copper mining district, where a total of 105Mt is
reported to have been mined over the past 100 years (refer ASX/JSE release 21 May 2021). Of the 105Mt mined,
some 77Mt was mined on OCP prospecting and mining rights held by Orion. The Flat Mines area and the current
drilling program fall entirely within the fully permitted Mining Right NC10150MR.
Results reported in this announcement have confirmed both strike and down-dip continuity of previously
intersected high-grade copper mineralisation, highlighting the potential for further upside and extensions to the
mineralisation intercepted in drilling by Newmont and Goldfields of South Africa (GFSA) in the 1980s and 1990s
as well as Orion's confirmation drilling program in 2024 (refer Appendix 1).
The historical drilling information underpinned Orion's Mineral Resource for the Flat Mines deposits (refer ASX/JSE
release on 28 August 2023) (Table 1)1.
Table 1: Mineral Resource Statement for the Flat Mine North, Flat Mine East, Flat Mine South.
Measured Indicated Inferred
Mine / Prospect
Tonnes % Cu t Cu Tonnes % Cu t Cu Tonnes % Cu t Cu
Flat Mine North 440,000 1.13 5,000 940,000 1.42 13,000 200,000 1.5 4,000
Flat Mine East - - - 3,400,000 1.37 47,000 1,000,000 1.0 9,000
Flat Mine South - - - 2,600,000 1.35 35,000 800,000 1.6 13,000
Total* 440,000 1.13 5,000 6,900,000 1.37 95,000 2,000,000 1.3 26,000
*Numbers may not add up due to rounding.
Resources are reported at a 0.7% Cu cut-off grade.
Flat Mine South Down-dip Drilling Program
The first three FMS drill holes exploring for extensions to high-grade copper mineralisation beyond the margins of
the current Indicated Mineral Resource have been successfully completed (Figures 2, 3, 4 and 5). Significant
assay results have been received for OFMSD082 and OFMSD083, while OFMSD081 intersected lower grade
mineralisation but has confirmed the continuation of the prospective ultramafic host unit (refer Table 2 and
Figures 2, 3, 4 and 5).
Drill hole OFMSD083 intersected a broad zone of 40.52m at 1.34% Cu from 585.00m down-hole (580m below
surface), including 10.00m at 1.03% Cu from 585.00m and 26.52m at 1.60% Cu from 599.00m (Table 2).
The intersection is located 45m west of historical drill hole FMS053D1 (Figure 5), which intersected 38.98m at 2.16%
Cu from 574.45m.
1 Mineral Resource reported in accordance with the JORC Code (2012) in ASX release of 28 August 2023: "Orion upgrades
Mineral Resources at Okiep Copper Project" available to the public on http://www.orionminerals.com.au/investors/asx-
jseannouncements/. Competent Person Mineral Resource: Mr Sean Duggan. Orion confirms it is not aware of any new
information or data that materially affects the information included above. Orion confirms that all material assumptions and
technical parameters underpinning the estimates in the original release continue to apply and have not materially changed.
Orion confirms that the form and context in which the Competent Person's findings are presented have not been materially
modified.
Importantly, the copper mineralisation in OFMSD083 is composed of sulphide mineralisation that is conducive to
geophysical detection methods (Figure 1).
Figure 1: Copper sulphide mineralisation intersected within 608.00–609.00m interval in OFMSD083 with 2.69% copper and
associated pyrrhotite and pyrite, which makes the mineralisation suitable for electrical geophysical methods. Detailed
assay results are provided in Table 6.
Drill hole OFMSD082 intersected 5.52m at 1.86% Cu from 742.48m (Table 2) down-hole (730m below surface),
approximately 170m down-dip from drill hole OFMSD080 (Figures 3, 4, 5), which intersected 59.00m at 3.14% Cu
from 533.00m (refer ASX/JSE release 23 October 2024).
Interpretation of geophysical exploration data indicates continuity of the steep structure associated with the
mineralisation down-dip.
Drill hole OFMSD081 intersected a zone of 10.00m at 0.51% Cu from 668.00m (Table 2) down hole (670m below
surface), approximately 100m down-dip from drill hole OFMD079 (Figure 5), which intersected 7.00m at 2.32% Cu
from 501.00m (refer ASX/JSE release 3 September 2024).
While the mineralisation is lower grade, the intersection is indicative of the continuation of the mineralised mafic
unit.
Flat Mine Nababeep drilling
At the Flat Mine Nababeep (FMNb) satellite deposit, the final drill hole of a nine hole program has also returned
important results (Figure 2).
Drill hole OFMD171 intersected 3.54m at 3.89% Cu from 107.00m down-hole (Table 2), 30m along strike of drill hole
OFMD167, which intersected 7.80m at 5.08% Cu from 121.20m down-hole (refer ASX/JSE release 3 September
2024).
A revised geological and mineralisation interpretation for FMNb is being completed and an updated Mineral
Resource will be reported in conjunction with the Bankable Feasibility Study (BFS), which is expected to be
released in January 2025.
Assay Results
Results received for FMS and FMNb are summarised in Table 2 below. Individual sample results are presented in
Tables 4 to 7 in appendix 2.
Table 2: Summary table of drill results to date for FMS and FMNb prospects (minimum cut-off of 0.7% Cu with maximum 3m
consecutive internal waste allowed). Intersections and inclusions with grades above 0.7% Cu are tabulated. The data are
not capped. Note: widths are down-hole drill widths.
Mineralisation
Hole ID
Notes From (m) To (m) Interval (m) % Cu
668.00 669.00 1.00 0.82
OFMSD081
676.00 677.00 1.00 0.75
OFMSD082 742.48 748.00 5.52 1.86
585.00 595.00 10.00 1.03
OFMSD083 599.00 625.52 26.52 1.60
including 607.00 625.52 18.52 2.00
OFMD171 107.00 110.54 3.54 3.89
Implications of recent drilling in FMS and FMNb
In the light of the recent drilling results, Orion has made the strategic decision to investigate changing the primary
access and ore handling strategy for FMS. Results of the updated engineering studies will be reported in the BFS
expected to be released in January 2025.
For and on behalf of the Board.
Errol Smart
Managing Director and CEO
17 December 2024
ENQUIRIES
Investors Media JSE Sponsor
Errol Smart – Managing Director & CEO Nicholas Read Monique Martinez
Denis Waddell – Chairman Read Corporate, Australia Merchantec Capital
T: +61 (0) 3 8080 7170 T: +61 (0) 419 929 046 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: nicholas@readcorporate.com.au E: monique.martinez@merchantec.com
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.
Reference to Previous Report
Exploration Results from previous drilling at Flat Mines area were reported in ASX/JSE releases of 22 April 2024: "Spectacular
High-Grade Copper Intercept at Okiep Project", 24 June 2024: "More Outstanding Hits at Okiep Copper Project", 9 July 2024:
"Okiep Copper Project Continues to Deliver", 3 September 2024: "Okiep Confirmation Drilling Successfully Completed", and
23 October 2024: "Continuation of High-Grade Copper Mineralisation at Okiep", available to the public on
http://www.orionminerals.com.au/investors/asx-jse-announcements/. Competent Person: Mr Paul Matthews. Orion confirms
that it is not aware of any new information or data that materially affects the information included in the original market
announcement. Orion confirms that the form and context in which the Competent Person's findings are presented have not
been materially modified from the original market announcement.
FMN, FME and FMS Mineral Resources were reported in ASX/JSE release dated 28 August 2023: "Orion upgrades Mineral
Resources at Okiep Copper Project" available to the public on http://www.orionminerals.com.au/investors/asx-
jseannouncements/. Competent Person Mineral Resource: Mr Sean Duggan. Orion confirms it is not aware of any new
information or data that materially affects the information included in the original market announcement. The Company
confirms that all material assumptions and technical parameters underpinning the estimates in the original market
announcement continue to apply and have not materially changed. Orion confirms that the form and context in which the
Competent Person's findings are presented have not been materially modified.
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and
results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or
may be based on assumptions and estimates related to future technical, economic, market, political, social and other
conditions. These forward-looking statements are based on management's expectations and beliefs concerning future
events. Forward-looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks,
uncertainties and other factors, many of which are outside the control of Orion. Actual results and developments may vary
materially from those expressed in this release. Given these uncertainties, readers are cautioned not to place undue reliance
on such forward-looking statements. Orion makes no undertaking to subsequently update or revise the forward-looking
statements made in this release to reflect events or circumstances after the date of this release. All information in respect of
Exploration Results and other technical information should be read in conjunction with Competent Person Statements in this
release (where applicable). To the maximum extent permitted by law, Orion and any of its related bodies corporate and
affiliates and their officers, employees, agents, associates and advisers:
• disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in
expectations or assumptions;
• do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the
information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed
or implied in any forward-looking statement; and
• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
negligence).
Appendix 1: Drilling Diagrams, Geophysical Results and Discussion
Figure 2: Plan showing historical and Orion drill holes, interpreted mineralisation envelopes and extent of the Mining Right.
Figure 3: Plan view of section line for OFMSD082.
Figure 4: Cross-section of OFMSD082 with adjacent holes.
Figure 5: Long section of FMS down-dip drilling target.
Geophysical Exploration Program
Detailed geophysical surveys are currently being conducted over the deposits in the Flat Mines area applying
magnetic, gravity and electrical methods to assist in ranking a number of priority drill targets previously identified
by geological mapping and various geophysical anomalies from the 2021 SkyTEM TM survey (refer ASX/JSE release
1 September 2021). Modern geophysical techniques enable exploration down to 1,000m and beyond while
advanced processing of SkyTEMTM data is yielding new insights in structural and stratigraphic modelling.
Additional processing and modelling of the 2021 SkyTEMTM data is permitting the sub-surface mapping of certain
key stratigraphic units and their predicted intersection with steep structures that act as structural conduits for
mineralised intrusive bodies (Figure 7). Historically, the most prospective target for mineralisation has been 0m-
250m above the Springbok Formation contact, with the largest orebodies in the district, including Carolusberg
(Figure 6), Okiep and Nababeep, developed in steep structures at this stratigraphic horizon. The intrusions up-dip
in the steep structures most often pinch and swell with an en echelon, semi-continuous distribution. In proximity
to the Springbok Quartzite mineralisation increases in continuity, dimension and grade.
The specific mineralisation at FMS is proving to be particularly suitable for geophysical investigation (Figure 1).
A steeply dipping SkyTEMTM conductivity anomaly has been modelled extending from near surface to depths
exceeding 800m (Figure 8). The anomaly appears to pinch and swell in vertical extent as expected. The form
and setting of this anomaly is analogous to that of the famous Carolusberg Deeps, the largest known deposit in
the Okiep district (Figure 6), and presents a compelling target. The Carolusberg Deeps deposit contributed 16Mt
at a head grade of 2.05% Cu (refer ASX/JSE release 3 August 2021).
The current deepest mineralised intersection at approximately 730m vertical depth is found in the recently drilled
OFMSD082. The zone 0m-250m stratigraphically above the Springbok Formation at 900-950m depth below
surface is considered the highest potential for hosting high tonnage mineralised intrusive.
Figure 6: Locality map (left) of the Okiep Copper District showing the distribution of selected deposits, in particular
Carolusberg. Schematic section (right) through the Carolusberg orebody, illustrating the en echelon nature of the
mineralisation hosted in steep structures, and the majority of ore located at the Springbok Quartzite contact.
Figure 7: Cross section over the Flat Mines area overlain by resistivity model after SkyTEMTM data. Anomalies map the
position of the highly prospective stratigraphic horizon which has not yet been drilled. Location of drill hole OFMSD082
indicated by blue trace.
Figure 8: Cross section looking west through the Flat Mine South area showing 3D resistivity model of 2021 SkyTEMTM data,
drill hole traces and Cu-assayed intersections. Cross section is 300m east of OFMSD082 intersection. OFMSD082 drill hole
trace has been projected onto the section to illustrate the depth of intersection.
Appendix 2: Drill hole collar information and assay results from drill program at Flat Mine South, Flat Mine
Nababeep and Flat Mine East.
Table 3: Drill hole collar information for FMS, FMNb and FME prospects. Coordinates in LO17 Hartebeesthoek 94.
Hole ID Easting Northing RL Azimuth Dip Depth (m) Comment
OFMSD081 -75259.02 3270991.79 767.43 170 -74 742.23 Completed
OFMSD082 -75187.17 3270885.84 749.34 182 -68 778.46 Completed
OFMSD083 -75136.50 3270987.60 762.56 182 -66 665.00 Completed
OFMD169 -75289.90 3270462.67 751.08 190 -60 223.41 Completed
OFMD170 -75120.65 3270636.76 740.87 356 -63 88.44 Completed
OFMD171 -75456.41 3270415.48 754.76 177 -60 160.52 Completed
OFMED156 -76868.12 3270720.29 824.98 171 -75 198.60 Completed
Table 4: OFMSD081 drill assay results.
Hole ID From (m) To (m) % Cu Hole ID From (m) To (m) % Cu
OFMSD081 652.00 654.00 0.0036 OFMSD081 672.00 673.00 0.2740
OFMSD081 654.00 656.00 0.0041 OFMSD081 673.00 674.00 0.6980
OFMSD081 656.00 657.00 0.0372 OFMSD081 674.00 675.00 0.5650
OFMSD081 657.00 658.00 0.0145 OFMSD081 675.00 676.00 0.4730
OFMSD081 658.00 659.00 0.2590 OFMSD081 676.00 677.00 0.7520
OFMSD081 659.00 660.00 0.1055 OFMSD081 677.00 678.00 0.5930
OFMSD081 660.00 661.00 0.2430 OFMSD081 678.00 679.00 0.2440
OFMSD081 661.00 662.00 0.2410 OFMSD081 679.00 681.00 0.0067
OFMSD081 662.00 663.00 0.0904 OFMSD081 681.00 683.00 0.0038
OFMSD081 663.00 664.00 0.0329 OFMSD081 683.00 685.00 0.0034
OFMSD081 664.00 665.00 0.0377 OFMSD081 685.00 687.00 0.0052
OFMSD081 665.00 666.00 0.0306 OFMSD081 687.00 689.00 0.0929
OFMSD081 666.00 667.00 0.0091 OFMSD081 689.00 691.00 0.1365
OFMSD081 667.00 668.00 0.0363 OFMSD081 691.00 693.00 0.1615
OFMSD081 668.00 669.00 0.8210 OFMSD081 693.00 695.00 0.1495
OFMSD081 669.00 670.00 0.4690 OFMSD081 695.00 697.00 0.0781
OFMSD081 670.00 671.00 0.3160 OFMSD081 697.00 699.00 0.0036
OFMSD081 671.00 672.00 0.0964 OFMSD081 699.00 701.00 0.0069
Table 5: OFMSD082 drill assay results.
Hole ID From (m) To (m) % Cu Hole ID From (m) To (m) % Cu
OFMSD082 737.00 738.00 0.0024 OFMSD082 745.00 746.00 2.1900
OFMSD082 738.00 739.00 0.0031 OFMSD082 746.00 747.00 2.4500
OFMSD082 739.00 740.00 0.0041 OFMSD082 747.00 748.00 2.5500
OFMSD082 740.00 741.00 0.0029 OFMSD082 748.00 749.00 0.0295
OFMSD082 741.00 742.00 0.0031 OFMSD082 749.00 750.00 0.0075
OFMSD082 742.00 742.48 0.0534 OFMSD082 750.00 751.00 0.0037
OFMSD082 742.48 743.00 1.8950 OFMSD082 751.00 752.00 0.0067
OFMSD082 743.00 744.00 1.3400 OFMSD082 752.00 753.00 0.0101
OFMSD082 744.00 745.00 0.7360
Table 6: OFMSD083 drill assay results.
Hole ID From (m) To (m) % Cu Hole ID From (m) To (m) % Cu
OFMSD083 578.00 579.00 0.1885 OFMSD083 586.00 587.00 0.5270
OFMSD083 579.00 580.00 0.0393 OFMSD083 587.00 588.00 0.7230
OFMSD083 580.00 581.00 0.7160 OFMSD083 588.00 589.00 0.6930
OFMSD083 581.00 582.00 0.0150 OFMSD083 589.00 590.00 0.9970
OFMSD083 582.00 583.50 0.0021 OFMSD083 590.00 591.00 1.2650
OFMSD083 583.50 584.00 0.6260 OFMSD083 591.00 592.00 1.4500
OFMSD083 584.00 585.00 0.6920 OFMSD083 592.00 593.00 1.1900
OFMSD083 585.00 586.00 0.8500 OFMSD083 593.00 594.00 1.8750
Hole ID From (m) To (m) % Cu Hole ID From (m) To (m) % Cu
OFMSD083 594.00 595.00 0.7230 OFMSD083 613.00 614.00 2.0500
OFMSD083 595.00 596.00 0.4050 OFMSD083 614.00 615.00 1.9500
OFMSD083 596.00 597.00 0.2070 OFMSD083 615.00 616.00 3.6100
OFMSD083 597.00 598.00 0.5720 OFMSD083 616.00 617.00 1.8550
OFMSD083 598.00 599.00 0.4810 OFMSD083 617.00 618.00 1.2800
OFMSD083 599.00 600.00 0.8890 OFMSD083 618.00 619.00 1.1050
OFMSD083 600.00 601.00 0.7330 OFMSD083 619.00 620.00 1.4650
OFMSD083 601.00 602.00 0.9490 OFMSD083 620.00 621.00 1.8050
OFMSD083 602.00 603.00 0.7710 OFMSD083 621.00 622.00 1.1950
OFMSD083 603.00 604.00 0.2450 OFMSD083 622.00 623.00 1.7050
OFMSD083 604.00 605.00 0.5960 OFMSD083 623.00 624.00 1.6350
OFMSD083 605.00 606.00 0.3200 OFMSD083 624.00 625.00 2.6100
OFMSD083 606.00 607.00 0.8590 OFMSD083 625.00 625.52 1.7100
OFMSD083 607.00 608.00 1.5150 OFMSD083 625.52 627.00 0.1640
OFMSD083 608.00 609.00 2.6900 OFMSD083 627.00 628.00 0.0468
OFMSD083 609.00 610.00 3.3900 OFMSD083 628.00 629.00 0.0034
OFMSD083 610.00 611.00 2.5700 OFMSD083 629.00 630.00 0.0018
OFMSD083 611.00 612.00 1.7950 OFMSD083 630.00 631.00 0.0033
OFMSD083 612.00 613.00 1.8850 OFMSD083 631.00 632.00 0.0014
Table 7: OFMD171 drill assay results.
Hole ID From (m) To (m) % Cu Hole ID From (m) To (m) % Cu
OFMD171 101.00 103.00 0.0007 OFMD171 108.00 109.00 1.6250
OFMD171 103.00 105.00 0.0059 OFMD171 109.00 110.00 4.3300
OFMD171 105.00 106.00 0.0158 OFMD171 110.00 110.54 8.7000
OFMD171 106.00 107.00 0.2750 OFMD171 110.54 112.00 0.0430
OFMD171 107.00 108.00 3.1000 OFMD171 112.00 114.00 0.0069
13
Appendix 3: The following tables are provided in accordance with the JORC Code (2012) requirements for the reporting of Exploration Results from the
Okiep Copper Project.
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques • Nature and quality of sampling (e.g. cut channels, random chips, or • Sampling was carried out using industry-standard diamond drilling
specific specialised industry standard measurement tools appropriate to procedures. NQ-size diamond drill cores were longitudinally split in half
the minerals under investigation, such as down hole gamma sondes, or using a diamond core cutting machine. Half core was cut to quarter
handheld XRF instruments, etc). These examples should not be taken as core where field duplicates were taken.
limiting the broad meaning of sampling. • HQ core size was only drilled in the upper weathered portion and no HQ
• Include reference to measures taken to ensure sample representivity core was sampled.
and the appropriate calibration of any measurement tools or systems • One-metre sample length was taken in most cases, with two-metre
used. sample length in poorly mineralised zones and internal waste. Sample
• Aspects of the determination of mineralisation that are Material to the lengths were varied to honour geological and mineralisation
Public Report. boundaries, with a maximum sample size of 2.00m and a minimum
• In cases where 'industry standard' work has been done this would be sample size of 48cm.
relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m • Areas of sampling were selected based on visual observations and
samples from which 3 kg was pulverised to produce a 30 g charge for fire readings from a handheld Niton XL3t 500 XRF analyser (standard
assay'). In other cases, more explanation may be required, such as where analytical range >25 elements from S to U with additional elements Mg, Al,
there is coarse gold that has inherent sampling problems. Unusual Si and P via helium purge).
commodities or mineralisation types (e.g. submarine nodules) may
warrant disclosure of detailed information.
Drilling techniques • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air • Diamond core drilling was undertaken.
blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or • HQ and NQ size core was drilled using a standard tube, HQ core size
standard tube, depth of diamond tails, face-sampling bit or other type, was only drilled in the upper weathered portion of approximately 6m. No
whether core is oriented and if so, by what method, etc). Cu mineralisation was visually identified in the HQ core and no HQ core
was sampled.
• Core was oriented using a Reflex ACT III™.
Criteria JORC Code explanation Commentary
Drill sample recovery • Method of recording and assessing core and chip sample recoveries • Core 'stick-ups' reflecting the depth of the drill hole are recorded at the rig
and results assessed. at the end of each core run. A block with the depth of the hole written
• Measures taken to maximise sample recovery and ensure on it is placed in the core box at the end of each run. At the core yard,
representative nature of the samples. the length of core in the core box is measured for each run. The measured
length of core is subtracted from the length of the run as recorded from
• Whether a relationship exists between sample recovery and grade
the stick-up measured at the rig to determine the core loss.
and whether sample bias may have occurred due to preferential
loss/gain of fine/coarse material. • Core recovery was found to be very good (>98%) within the mineralised
zone.
• Ground conditions below the weathered zone were very good.
• No obvious relationship exists between sample recovery and grade.
• No core/sample loss or gain which could result in sample bias.
Logging • Whether core and chip samples have been geologically and • Core of the entire hole length was geologically logged by qualified
geotechnically logged to a level of detail to support appropriate geologists.
Mineral Resource estimation, mining studies and metallurgical • The core was logged to a level of detail that is sufficient to support
studies. appropriate Mineral Resource estimation, mining studies and
• Whether logging is qualitative or quantitative in nature. Core (or metallurgical studies.
costean. channel. etc) photography. • Geological logging was qualitative and was carried out using a
• The total length and percentage of the relevant intersections logged. standard sheet with a set of standard logging codes to describe
lithology, structure and mineralisation. The logging sheet allows for free-
form description to note any unusual features.
• Geological logs were captured electronically.
• All cores were photographed before sampling.
• Geotechnical logging was completed on oriented core. The data
collected per drill run consisted of core recovery, length of core
greater than ten centimetres, longest piece, fracture count, alpha and
beta angles for all joint types and lithological contacts, joint infill types
and their strength as well as nature of joint surface.
Criteria JORC Code explanation Commentary
Sub-sampling • If core, whether cut or sawn and whether quarter, half or all core • NQ core was cut, and half core was taken as sample with quarter core
techniques and taken. for duplicates.
sample preparation • If non-core, whether riffle, tube sampled, rotary split, etc and
• HQ core size was only drilled in the upper weathered portion and no HQ
whether sampled wet or dry. core was sampled.
• For all sample types, the nature, quality and appropriateness of the • Sample preparation was undertaken at ALS Laboratory Johannesburg
sample preparation technique. (ALS), an ISO accredited laboratory, and is considered appropriate. ALS
• Quality control procedures adopted for all sub-sampling stages to utilises industry best practice for sample preparation for analysis
maximise representivity of samples. involving drying of samples, weighing samples, crushing to <2mm if
required. Crushed samples are riffle-split and a 250g portion pulverised with
• Measures taken to ensure that the sampling is representative of the in-situ
+85% passing through 75 microns.
material collected, including for instance results for field
duplicate/second-half sampling. • Crushing and pulverising QC tests were applied by ALS and found
acceptable.
• Whether sample sizes are appropriate to the grain size of the material
being sampled. • Quarter core field duplicates were taken for six samples.
• All sample sizes are deemed appropriate.
Quality of assay data • The nature, quality and appropriateness of the assaying and • Areas of sampling were selected based on visual observations and
and laboratory tests laboratory procedures used and whether the technique is considered readings from a handheld Niton XL3t 500 XRF analyser (standard
partial or total. analytical range >25 elements from S to U with additional elements Mg, Al,
• For geophysical tools, spectrometers, handheld XRF instruments, etc. the Si and P via helium purge.
parameters used in determining the analysis including instrument make • Samples submitted to ALS were analysed for base metals and gold.
and model, reading times, calibrations factors applied and their • All samples were analysed by an appropriate high-grade aqua regia
derivation, etc. ICP-AES method, ALS code ME-ICP41a.
• Nature of quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable • Samples where assays returned >5% Cu were re-assayed by aqua regia
levels of accuracy (i.e. lack of bias) and precision have been digestion and ICP-AES method, ALS code MEOG-46.
established.
• Samples were assayed for gold by fire assay and AAS, ALS code AU-
AA25 method.
• Orion inserted CRMs every 10th sample. A total of fourteen CRMs were
inserted. CRMs were alternated throughout the sample stream and
where possible, matched to the sample material being analysed.
• Four CRMs were used, AMIS0399 (1.014 %Cu), AMIS0847 (1.05%Cu),
AMIS0809 (2.97 %Cu) and AMIS0088 (0.3 %Cu).
• All CRMs returned acceptable results within two standard deviations of the
CRM average.
• Chip blanks are inserted at the beginning of each batch and after any
sample that may be considered high grade. A total of ten blanks were
used. Acceptable results were returned indicating no contamination.
• The laboratory conducts their own checks which are also monitored.
Criteria JORC Code explanation Commentary
The accuracy and precision of the geochemical data reported on has
deemed to be acceptable.
• Results from the six quarter core field duplicates showed a correlation
coefficient of 0.98.
• No external laboratory checks have been carried out at this stage.
Verification of • The verification of significant intersections by either independent or • Orion's exploration geologist personally supervised the drilling and
Sampling and assaying alternative company personnel. sampling along with a team of experienced geologists.
• The use of twinned holes. • Hole OFMSD081 was planned to test downdip continuity of
• Documentation of primary data. data entry procedures. data mineralisation intersected in Orion drill hole OFMSD079. Hole OFMSD082
verification, data storage (physical and electronic) protocols. was planned to test downdip continuity of mineralisation intersected in
Orion drill hole OFMSD080. Hole OFMSD083 was planned to test
• Discuss any adjustment to assay data.
mineralisation along strike from historical hole FMS053D1 and Orion drill
hole OFMSD077. None of the holes are twin holes.
• The Competent Person has reviewed the raw laboratory data and
confirmed the calculation of the significant intersections.
• No adjustments have been made to the assay data.
Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and • Collar positions of the FMS, FMNb and FME prospect holes were initially
down-hole surveys), trenches, mine workings and other locations used in located using a hand-held Garmin GPS and have been subsequently
Mineral Resource estimation. surveyed by a qualified surveyor using a differential GPS.
• Specification of the grid system used. • On completion drill collars are capped and labelled.
• Quality and adequacy of topographic control. • The local South African Lo17 (Hartebeesthoek 94) grid system is used.
• All the FMS, FMNb and FMS holes have been surveyed down-hole. A
north seeking Reflex SPRINTIQ gyro tool was used for the down-hole surveys.
Data spacing and • Data spacing for reporting of Exploration Results. • At FMS, OFMSD081 intersected mineralisation approximately 100
distribution metres downdip from mineralisation intersected in drill hole OFMSD079,
• Whether the data spacing and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the OFMSD082 intersected mineralisation approximately 170 metres
Mineral Resource and Ore Reserve estimation procedure(s) and downdip from mineralisation intersected in drill hole OFMSD080,
classifications applied. OFMSD083 intersected mineralisation approximately 45 metres along
strike from mineralisation intersected in drill hole FMS053D1 and
• Whether sample compositing has been applied.
OFMSD077.
• OFMD171 intersected mineralisation approximately 30m east along
strike from OFMD167.
• The holes were drilled to test for downdip and strike continuity and to
test the latest structural interpretation.
• The drill spacing is considered sufficient to establish the degree of
geological and grade continuity appropriate for the Mineral Resource
Criteria JORC Code explanation Commentary
and Ore Reserve estimation and classifications.
• Holes OFMSD169, OFMSD170 and OFMED156 were drilled to test
geological interpretations of geophysical anomalies.
• Two-metre samples were taken in wider zones of internal waste or barren
zones separating hanging wall and footwall mineralised zones.
Orientation of data in • Whether the orientation of sampling achieves unbiased sampling of • To achieve unbiased sampling, drilling is oriented as close as practically
relation to geological possible structures and the extent to which this is known, considering the possible to perpendicular, or at a maximum achievable angle, to the
structure deposit type. attitude of the mineralisation. Holes were inclined at between -60° and -75°.
• If the relationship between the drilling orientation and the orientation of • No sampling bias is anticipated as a result of drill hole orientations.
key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security • The measures taken to ensure sample security. • Chain of custody is managed by the Company. Samples were stored
on site in a secure locked building and then freighted directly to the
laboratory.
Audits or reviews • The results of any audits or reviews of sampling techniques and data. • No audits or reviews have been carried out to date.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and • Type, reference name/number, location and ownership including • The mineral rights to the properties are vested in the peoples of South
land tenure status agreements or material issues with third parties such as joint ventures, Africa and the Minerals and Petroleum Resources Development Act
partnerships, overriding royalties, native title interests, historical sites, 2002 (MPRDA) regulates the prospecting and mining industry in South
wilderness or national park and environmental settings. Africa.
• The security of the tenure held at the time of reporting along with any Newmont and GFSA:
known impediments to obtaining a licence to operate in the area. • O'Okiep Copper Company (Pty) Ltd (OCC), historically owned at
different times by Newmont, GFSA and Metorex, held vast areas under
an old order (prior to the MPRDA) mining right.
Orion:
• Flat Mines Mining Right. A mining right, NC30/5/1/2/2/10150MR was
granted on 28 July 2022 to Southern African Tantalum Mining (Pty) Ltd
(SAFTA) in terms of section 23 of the MPRDA to mine for a period of
fifteen years. The right may be renewed for periods of up to 30 years.
The mining right was ceded to Orion indirect subsidiary, New Okiep
Mining Company (Pty) Ltd (NOMC) on 12 December 2023. The right is
Criteria JORC Code explanation Commentary
for copper ore and tungsten are over a portion of portion 3, a portion
of portion 13, a portion of portion 14 and a portion of portion 21 of the
farm Nababeep No 134 situated within the Administrative District of
Namaqualand. The area measures 1,214Ha in extent.
• A prospecting right NC30/5/1/1/2/12850PR was granted on 27 June
2023 to SAFTA in terms of section 17 of the MPRDA for the same area as
the mining right for 3 years (renewable for 3 years) for 26 additional
minerals including gold and silver.
• SAFTA PR, A prospecting right, NC30/5/1/1/2/12755PR was granted on
21 June 2024 to SAFTA in terms of section 17 of the MPRDA to prospect
for a period of 3 years, renewable for 3 years. The right is for copper ore
and tungsten ore for portion of Portion 3, portion of Portion 10, portion
of Portion 13, portion of Portion 14, Portion 15, Portion 16, portion of
Portion 21 of the farm Nababeep 134 and Okiep Township Plot 2086,
situated within the Administrative District of Namaqualand. The total
area measures 7,164Ha in extent.
• A prospecting right NC30/5/1/1/2/12848PR was granted on 21 June
2024 to SAFTA in terms of section 17 of the MPRDA for the same area as
the prospecting right NC12755PR for 3 years (renewable for 3 years) for
26 additional minerals including gold and silver.
• Orion acquired 56.25% of the tenement rights through the SAFTA-Orion
Acquisition Agreement. The remaining 43.75% is held by the Industrial
Development Corporation of South Africa (IDC) (refer ASX/JSE releases
2 August 2021, 7 September 2022, 14 November 2022, 17 April 2024, 6
May 2024). Applications for Section 11 consent in terms of the MPRDA
to cede the rights to NOMC are submitted once each right is granted
and are in preparation and process.
• The area was mined historically for copper and tungsten.
Exploration done by • Acknowledgment and appraisal of exploration by other parties. • Previous explorers in the region includes Newmont, GFSA and SAFTA.
other parties Exploration was focussed on Cu.
• Extensive historical drilling data (480 holes totalling 126,601m) is
contained in the database inherited from Newmont, GFSA and SAFTA
for FME, FMN and FMS. This includes 247 holes totalling 42,738m at FMN.
151 holes totalling 50,583m at FME and 82 holes totalling 33,280m at
FMS.
• Sample and analytical details are contained within JORC Table 1 of
ASX/JSE release from 28 August 2023.
Criteria JORC Code explanation Commentary
Geology • Deposit type, geological setting and style of mineralisation. • The tenements are located over the Central and Western parts of the
Okiep Copper District (OCD). The style of mineralisation is mafic hosted
orogenic Cu-mineralisation.
• Copper mineralisation is primarily associated with irregular, elongated
and steeply dipping Koperberg Suite mafic intrusives.
• The Koperberg Suite intrusives are mainly restricted to so-called "Steep
Structures" of extensive strike lengths and steeply dipping to the north.
• The Koperberg Suite consists of intermediate to mafic rock types,
predominated by anorthosite, diorite and norite.
• Mineralisation usually occurs as blebs to disseminated Cu mineral
assemblages: bornite > chalcopyrite > chalcocite and less pyrite and
pyrrhotite.
• The more mafic and magnetite-rich lithologies generally host the bulk of
and higher-grade mineralisation.
• The OCD has a long exploration and mining history, and the geology is well
known and understood.
Drill hole Information • A summary of all information material to the understanding of the • Refer to Table 3 in Appendix 2 for collar details of drill holes reported.
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation above
sea level in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
• If the exclusion of this information is justified on the basis that the
information is not Material, and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly
explain why this is the case.
Data aggregation • In reporting Exploration Results, weighting averaging techniques, • A minimum 0.7% Cu cut-off was used to calculate intercepts.
methods maximum and/or minimum grade truncations (e.g. cutting of high • Allowance was made for 3m internal waste.
grades) and cut-off grades are usually Material and should be stated.
• A cut-off of 1.0% Cu was used for the higher-grade inclusions.
• Where aggregate intercepts incorporate short lengths of high-grade
• Weighted grades were calculated as follows: %Cu x sample length(m)
results and longer lengths of low grade results, the procedure used for
such aggregation should be stated and some typical examples of • The Competent Person is of the opinion that the above aggregation
Criteria JORC Code explanation Commentary
such aggregations should be shown in detail. methods are acceptable for this type of deposit.
• The assumptions used for any reporting of metal equivalent values • These aggregation methods were also applied to historical holes and
should be clearly stated. assay results in previous announcements.
• No metal equivalents are reported.
• No capping of assay results was required.
Relationship between • These relationships are particularly important in the reporting of • Drilling is generally oriented perpendicular, or at a maximum
mineralisation widths Exploration Results. achievable angle to, the attitude of the mineralisation.
and intercept lengths
• If the geometry of the mineralisation with respect to the drill hole • Generally, drill hole inclinations ranged between -60° to -75° towards the
angle is known, its nature should be reported. south while the mineralisation is expected to dip close to 80° towards the
• If it is not known and only the down hole lengths are reported, there should north.
be a clear statement to this effect (e.g. 'down hole length, true width not • Down holes lengths are reported in all instances apart from where true
known'). widths (TW) are specified.
• Where true widths (TW) are specified, they are calculated by measuring
the intersection width perpendicular to the interpreted mineralisation
trend.
Diagrams • Appropriate maps and sections (with scales) and tabulations of • Refer to body of the announcement for plans, plots and tables.
intercepts should be included for any significant discovery being • Drilling data was incorporated and monitored in Micromine™
reported These should include, but not be limited to a plan view of drill software together with interpretation models based on the available
hole collar locations and appropriate sectional views. historical drill data.
Balanced reporting • Where comprehensive reporting of all Exploration Results is not • In the Competent Person's opinion, the Exploration Results reported in this
practicable, representative reporting of both low and high grades announcement have been reported in a balanced manner.
and/or widths should be practiced to avoid misleading reporting of
Exploration Results.
Other substantive • Other exploration data, if meaningful and material, should be reported • The Company's previous ASX releases have detailed exploration works.
exploration data including (but not limited to): geological observations; geophysical survey • Surface geophysical surveys are being undertaken and include
results; geochemical survey results; bulk samples – size and method of ground, drone and downhole magnetics, gravity and electrical
treatment; metallurgical test results; bulk density, groundwater, methods. The objectives of the work is to provide baseline survey
geotechnical and rock characteristics; potential deleterious or information over known and well-described mineralisation so as to
contaminating substances. inform the future application of techniques most suited to the
Koperberg style of mineralisation.
• A high-resolution drone magnetic survey was carried-out and will assist in
future planning of additional drill holes.
• Drone (DJI 600M Pro) magnetics were done at 30m AGL and 50m line
spacing.
• Historical detailed surface mapping is interpreted and utilised during drill
hole planning.
Criteria JORC Code explanation Commentary
• Where possible, bulk density measurements were made over the full
length of each individual sample of split core. Where not possible due to
incompetent (crushed or broken) core, a minimum of 80% of the (half-
core) sample was used. The bulk density was determined by measuring
and subtracting the wet weight from the dry weight using an electronic
scale. Care was taken to clean and zero the scale between each
weighing. The intact sample portion was first weighed in air and the weight
recorded. The sample was then weighed, while completely
submerged in clean water within a measuring container. The mass of
container and water were deducted for net submerged weight and
volume displacement read on measuring container. The sample was then
removed and placed back into the core tray in the correct position
and orientation. The procedure was repeated for each geological
sample interval. The data were recorded in the bulk density Data Sheet. The
bulk density is calculated for each sample using the formula:
BD = weight of sample
(weight of sample in air – weight of the sample in water)
Further work • The nature and scale of planned further work (e.g. tests for lateral • Interpretation and modelling of drilling results is continuing.
extensions or depth extensions or large-scale step-out drilling).
• Diagrams clearly highlighting the areas of possible extensions, including
the main geological interpretations and future drilling areas, provided
this information is not commercially sensitive.
Date: 17-12-2024 08:15:00
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