Wrap Text
Prieska Crown Pillar +105 Level Mineral Resource update results in improved definition and increased copper grade
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
Prieska Crown Pillar +105 Level Mineral Resource update results in improved definition and
increased copper grade
- Updated Mineral Resource estimate completed for the +105m Level Crown Pillar supergene and
hypogene sulphide zones at the Prieska Copper Zinc Mine in South Africa, incorporating all 2023
drilling data and geological data gathered during trial mining.
- Updated total supergene and hypogene sulphide Mineral Resource of: 1.1 Mt @ 2.8% Cu and 2.2%
Zn including an Indicated Resources of 0.8 Mt @ 2.84% Cu and 2.67% Zn and Inferred Resources of
0.3 Mt grading 2.6% Cu and 0.9% Zn.
- Improved definition of the mineralisation by separating out the higher grade more massive
sulphide hangingwall unit for separate estimation has resulted in a 16% increase in the copper
grade from 2.4% to 2.8%.
- Prieska's total Mineral Resource, reported and classified in accordance with the JORC Code (2012)
is updated to 31 Mt grading 1.2% Cu and 3.6% Zn.
Orion's Managing Director and CEO, Errol Smart, commented:
"Our 2024 trial mining exercise has delivered great results with improved geotechnical data and detailed
geological observations that allowed the Mineral Resource to be re-estimated with improved results for
mine design purposes.
"While the trial mining was focussed on the supergene sulphide ore, we also gained valuable data on the
footwall host geology and geotechnical conditions, and we also exposed over 250m strike extent of
transitional ore that demonstrated the remarkable consistent quality of the underlying hypogene ore.
"Our DFS for PCZM, which will be reported shortly, is expected to demonstrate the commercial value of this
improved understanding of the +105 block, which is being labelled as the Uppers Project in the DFS study."
Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to advise that it has taken another
key step in its early mining strategy at the Prieska Copper Zinc Mine (PCZM) in the Northern Cape, South
Africa with the completion of an updated Mineral Resource estimate (MRE) for the supergene sulphide and
remnant hypogene sections of the near-surface +105 Level Crown Pillar reporting a combined Indicated
and Inferred Mineral Resource of 1.1 Mt grading 2.8% Cu and 2.2% Zn (Table 1).
The updated MRE is based on the incorporation of several additional holes drilled in 2023 and a
reinterpretation of the geology by separating out the lower grade disseminated sulphides in the footwall
unit from the higher-grade massive sulphide-dominated hangingwall unit made possible by extensive
geological observation and data gathering during the trial mining program completed during Q1 and Q2
CY2024. The mining plan as part of the Definitive Feasibility Study (DFS) is focussed on the massive sulphide
unit only.
The +105 Level Crown Pillar is located in close proximity to existing underground infrastructure and the
northwestern section can be readily accessed via the trial mining underground infrastructure, allowing full
scale mining activities to commence immediately with all required permits now in place.
The updated MRE for the +105 Level Crown Pillar brings the total Indicated and Inferred Mineral Resource
including the Deep Sulphide Mineral Resource (refer ASX/JSE release 18 December 2018)1 of the PCZM to
31 Mt grading 1.2% Cu and 3.6% Zn (Figure 1, Table 3).
Updated +105m Level Crown Pillar Mineral Resource
The geological wireframe for the crown pillar has been updated to include additional drilling data from the
2023 reverse circulation (RC) drill campaign targeting metallurgical samples from the supergene sulphide
zone and infilling of areas in the oxide zone. Geological mapping from the 2024 trial mining has also been
used to modify the interpretation in this area.
Following an assessment of the trial mining information and drill hole data, there has been a review of the
modelling parameters, resulting in separating out of the lower grade disseminated footwall unit from the
hangingwall unit where higher grade massive sulphides dominate. This upper unit represents the planned
mining cut in the mining plan to be reported in the DFS, with intended imminent release (Figure 2).
The MRE has been updated based on the additional drilling, geological mapping and observation in the
trial mining, and resultant changes to the interpretation described above. This has resulted in changes to
the MRE for the supergene sulphides and remnant hypogene zone from 1.3 Mt grading 2.4% Cu and 2.1% Zn
(refer ASX/JSE release 25 July 2023) to 1.1 Mt grading 2.8% Cu and 2.2% Zn, including Indicated Resources
of 0.8 Mt grading 2.84% Cu and 2.67% Zn and Inferred Resources of 0.3 Mt grading 2.6% Cu and 0.9% Zn.
Significantly, while there is a 14% drop in the tonnage, the increase in copper grade results in the copper
content remaining largely unchanged at approximately 30,000t.
The +105m Level Mineral Resources shown in Table 1 are based on drilling data available for the Prieska
Copper Zinc Mine (previously Repli) Mining Right NC30/5/1/2/2/10138MR. The Mineral Resources are
reported in accordance with the 2012 Edition of the Australian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves (JORC Code (2012)), with supporting information provided in Appendix
1, 2 and 3.
Table 1: Global Indicated and Inferred Mineral Resource statement for the +105m Level Resource Block of the PCZM.
Cu Cu Zn Zn
Classification Mineralised Zone Tonnes
(tonnes) (%) (tonnes) (%)
HW Oxide 200,000 1,000 0.48 2,000 0.90
Oxide 490,000 4,000 0.81 4,000 0.73
Indicated Supergene Sulphide 720,000 22,000 2.99 17,000 2.42
Hypogene 80,000 1,000 1.43 4,000 5.00
Total 1,500,000 28,000 1.86 27,000 1.79
HW Oxide 30,000 100 0.4 300 1.0
Oxide 300,000 3,000 1.0 2,000 0.8
Inferred Supergene Sulphide 200,000 6,000 2.6 2,000 0.8
Hypogene 50,000 1,000 2.7 700 1.4
Total 600,000 10,000 1.8 5,000 0.9
+105m Level Mineral Resource Total 2,100,000 38,000 1.8 32,000 1.5
Note: +105m Level Mineral Resource oxide mineralisation interpretation wireframe cut-off = 0.3% Equivalent Cu (CuEq = Cu% + Zn%/2). Resource stated at 0.3%
Cu cut-off.
+105m Level Mineral Resource supergene sulphide and remnant hypogene mineralisation interpretation wireframe cut-off = 0.8% Cu. Resources stated
at 0.7% Cu cut-off.
Numbers may not add up due to rounding in accordance with the JORC Code (2012).
1
Mineral Resource reported in ASX release of 18 December 2018: "Landmark Resource Upgrade Sets Strong Foundation" available to the public on
www.orionminerals.com.au/investors/market-news. Competent Person: Orion's Mineral Resource: Mr. Sean Duggan. Orion confirms it is not aware of any
new information or data that materially affects the information included above. For the Mineral Resources, the Company confirms that all material
assumptions and technical parameters underpinning the estimates in the ASX release of 18 December 2018 continue to apply and have not materially
changed. Orion confirms that the form and context in which the Competent Person's findings are presented here have not materially changed.
Figure 1: Longitudinal schematic section showing the historically mined area and the +105m Level Mineral Resource (oxide zone,
supergene sulphide and hypogene zones) at the PCZM, with the Deep Sulphide Mineral Resource.
Since the previous +105m Level MRE (refer ASX/JSE release 25 July 2023), 29 RC holes comprising 1,277m
were targeted to intersect oxide mineralisation (Figure 4, Tables 2, 4, 5, 6). Two of these holes intersected
the mineralisation deeper than anticipated in the supergene sulphide zone. Holes intersecting the oxide
and leach zones were also used to modify the overall crown pillar interpreted geometry, which had an
effect on the interpretation of the downdip trend into the supergene sulphide zone.
A further four RC holes comprising 345m were drilled for metallurgical samples from the supergene sulphide
zone (Table 2). While these metallurgical holes were not sampled and assayed, logging and preliminary
measurements from a handheld Niton XL3t 500 XRF analyser were used to further guide the geological
interpretation in these areas.
In compliance with ASX Listing Rule 5.8.1, the following sections present a summary of all information
material to understanding the reported Mineral Resource estimates:
Geology & Geological Interpretation
The Prieska Cu-Zn Deposit is a volcanogenic massive sulphide (VMS) deposit which is situated in the
southernmost exposures of the north-northwest trending Kakamas Terrain, which forms part of the Mid-
Proterozoic Namaqualand Metamorphic Complex. The deposit is hosted by the Copperton Formation of
the Areachap Group.
The structural sequence at the mine consists of a footwall Smouspan Gneiss Member, Prieska Copper Mines
Assemblage, which hosts the sulphide mineralisation, and the hangingwall Vogelstruisbult Gneiss Member.
The +105m Level Resource occurs above the upper limit of the historically mined Prieska Cu-Zn Deposit at
approximately 105m depth below surface, up to surface. It has a strike length of approximately 1km and
thicknesses vary between 1.5m and 23m.
The +105m Level Resource Block comprises five defined zones (Figure 4).
• Haematite-goethite-quartz oxide zone (gossan) from surface to approximately 33m. A separate zone
of elevated Cu and Zn values in the oxides in the hangingwall to the main +105m Level crown pillar
is present in the northwest of the deposit for approximately 300m strike.
• Clay (kaolinite)/leach zone developed in places below 33m.
• Chalcocite dominant supergene sulphide zone between approximately 42m and 70m.
• Mixed supergene-hypogene sulphide zone between approximately 70m and 100m below surface.
This has a relatively sharp contact with the underlying hypogene massive sulphides.
• Hypogene sulphide zone consisting of the unaltered, fresh massive sulphides.
The Mineral Resource update includes the supergene sulphide zone, the transition zone between the
supergene sulphides and the hypogene, and the remnant hypogene above the historical stopes.
Drilling Techniques
Drilling in the supergene sulphide and hypogene was undertaken during five distinct periods:
• Surface diamond drilling by the Anglovaal Group (Anglovaal) from 1968 to 1971;
• Surface diamond drilling by Repli full name (Repli) in 2012;
• Surface diamond drilling, surface RC drilling and underground diamond drilling by Orion in 2017;
• Underground diamond drilling by Orion in 2022; and
• Surface RC drilling by Orion in 2023.
A summary of the drilling is shown in the Table 2 below.
Table 2: Summary of drilling undertaken at +105m Level Resource Block of the PCZM.
No Total
Company Year Drill Type Core Size Location
Holes Metres
Anglovaal 1968-1971 12 1,812 Surface DD BQ +105m Level Block
Repli 2012 11 785 Surface DD NQ +105m Level Block
2017 27 3,173 Surface DD NQ +105m Level Block
2017 20 1,297 Surface RC 140mm diameter +105m Level Block
2017 13 889 Underground DD NQ Supergene Sulphide Zone
Orion 2022 19 1,147 Underground DD NQ Supergene Sulphide Zone
Supergene Sulphide Zone
2023 4 345 Surface RC 140mm diameter (metallurgical sample)
2023 29 1,277 Surface RC 140mm diameter Oxide zone
Total 135 10,725
Drilling of the original Anglovaal surface exploration holes was carried out at a 200m to 250m line spacing.
Repli and Orion drilling was carried out on approximately 25m-30m spaced lines along strike and at
approximately 50m intervals. There were however holes drilled in between these lines. Underground holes,
where possible, were spaced along 50m lines.
Sampling and Sub – Sampling Techniques
For diamond drilling carried out by Anglovaal between 1968 and 1971, there is limited information available
on sampling techniques for core. However, with exploration and resource management being carried out
under the supervision of Anglovaal, it is considered by the Competent Person that there were likely
procedures in place to the industry best practice standard at that time. This is based on the Competent
Persons knowledge of exploration carried out by Anglovaal and discussions with personnel employed by
Anglovaal.
• Anglovaal's mineral resource management was under the professional supervision of Dr Danie Krige, an
internationally recognised expert of the time who published peer-reviewed papers based on the
sampling data. The sampling was successful in defining a resource estimate which was used as the basis
of successful mine development and operation over a 20-year period.
• Surface drill exploration samples were all sent to Anglovaal Research Laboratory at Rand Leases Mine.
• No records are available on the sampling methodology.
• Although no formal QA/QC samples were inserted at the time by the Anglovaal geologists on the
exploration site or the mine, the Anglovaal Research Laboratory developed their own standards, certified
by other commercial laboratories and those were used internally in the laboratory. Duplicate samples
were also inserted to check for repeatability.
Sampling by Repli in 2012 and by Orion between 2017 and 2023 was carried out using industry-standard
procedures:
• Diamond core was cut at the core yard, and half core was taken as the sample.
• In friable ore, where core splitting was not possible, half of the broken friable material was sampled using
a spoon and scraper.
• Diamond core was sampled on 1m intervals where possible, sample lengths were adjusted to ensure
samples did not cross geological boundaries or other features.
• RC samples were collected at 1m intervals via a cyclone and collected in poly weave bags. Each
sample was split via a 3-tier splitter, followed by a single splitter to produce two samples of approximately
2.5kg each (an 'original' and a 'duplicate'). 2m compositing of zones outside the main identified
mineralised zone was carried out in the 2023 oxide drilling program.
• Sampling was undertaken under the supervision of a qualified geologist and intervals were selected on
the basis of mineralogy, textures and concentrations of specific minor minerals. A handheld Niton XRF
instrument was used as guide during sampling.
• Samples were submitted for analysis to Genalysis South Africa (Pty) Ltd (Genalysis) (Repli) and ALS
Chemex Pty Ltd (ALS) (Orion). Samples were pulverised in their entirety and split to obtain a 30g sample
for digestion and analysis.
• Quality control samples were inserted under the direct supervision of a geologist at pre-determined
points within the sampling stream.
Sample Analyses
For Anglovaal, surface drill exploration samples were all sent to Anglovaal Research Laboratory at Rand
Leases Mine.
• Atomic Absorption method was used with a Nitric-bromide digest.
• Although no formal QC samples were inserted with the drill samples, the Anglovaal Research Laboratory
developed their own standards, certified by other commercial laboratories, and those were used
internally in the laboratory. Duplicate samples were also inserted to check for repeatability.
For Orion and Repli, three laboratories were used to analyse samples. Repli used Genalysis and Orion used
ALS with SGS Laboratory used as the referee laboratory.
• Analyses were done using acid digestion and the inductively coupled plasma and optical emission
spectroscopy ("ICP-OES") methodology.
• Initially ALS used a three-acid digest but changed to an aqua-regia digest in November 2017. Genalysis
used a four-acid digest. SGS used an aqua-regia digest.
• Quality control samples were inserted under the direct supervision of a geologist at pre-determined
points within the sampling stream. Sample results of the duplicates and CRMs were examined on a
regular basis by the responsible geologist and any discrepancy was taken up with the laboratories.
• CRM samples showed excellent accuracy and precision, and duplicate samples showed acceptable
precision with no obvious bias. Blank samples indicated no contamination, within the pre-determined
thresholds, during the sample preparation process.
• External laboratory checks between ALS and SGS were done by submission of duplicate samples. These
showed excellent accuracy and precision.
Estimation Methodology
The wireframe of the +105m Level Block used in the 2023 Mineral Resource update (refer ASX/JSE release
25 July 2023) was constructed utilising Cu% values greater than or equal to 0.3% and Zn% values greater
than or equal to 0.6%. Surfaces were created to subdivide the mineralised zone into the various domains.
For the 2025 Mineral Resource update an additional surface was created for the supergene sulphide and
hypogene zones delineating the contact between the footwall unit disseminated sulphides ("disseminated
zone") and the hangingwall unit where massive sulphides ("massive zone") dominate. A 0.8% Cu cut-off
was selected to model this surface based on an analysis of the sample population and a review of drill hole
geological logging.
The resultant estimation domains for the disseminated and massive zones were not extrapolated any
significant distance in the northwest but were terminated by the interpreted shallow dipping limits of the
pitch of the mineralisation (Figure 4). In the southeast the mineralised zones were extrapolated
approximately 80m beyond the last drill hole to where they intersect the sinkhole. The intersection of the
mineralised body can be clearly observed on the northwest face of the sinkhole.
Samples were composited to 1m. The exceptionally high assay values for all variables were capped to
selected thresholds using the Parker methodology. A block model with cells of 25m X by 25m Y by 2m Z was
used for the supergene sulphide and hypogene zone, with a sub-cell size of 1m x 1m x 1m.
Data from the supergene sulphide and hypogene massive zones were analysed together with an
interpreted 'soft boundary'. The same was done for the disseminated zone. Following a spatial analysis, the
composite data was used to estimate the block grades for the massive zone using ordinary kriging (OK).
For the disseminated zone, due to the lower density of sample data, block grades were estimated using a
moving average estimate.
For the supergene sulphide and hypogene massive zones, neighbourhood analysis resulted in an optimum
first pass search neighbourhood of 100m x 7.2m for local block estimation, corresponding to the variogram
range. The second and third pass estimates were calculated from the pass 1 OK estimates using a moving
average technique, with the search radii increased to 200m / 7m and 400m / 20m respectively. 80% of
blocks were estimated by the first pass.
Bulk densities (t/m3) were determined using the water displacement method. There are 203 density
measurements in the supergene sulphide and hypogene domain. The entire sample (normally 1m length)
was measured, or where the formation was highly fractured, a shorter length was measured.
Local block estimates of density for the massive zone were produced using OK in areas of close-spaced
sampling. A second pass with longer search radii was utilised and the remaining blocks were populated
using grid filling. For the disseminated zone a zonal mean value of 2.59t/m3 was applied to all blocks due to
the lack of density data.
DatamineTM was utilised to create a block model and measure individual block volumes within each zone
and these data were imported into IsatisTM for further geostatistical analysis.
The massive sulphides for the supergene sulphide and hypogene zones are reported separately in the
Mineral Resource statement. The disseminated zone is all below the 0.7% Cu cut off.
Resource Classification
The geology of the two zones (massive and disseminated) making up the updated Mineral Resource is
relatively uncomplicated, and the key issues relate to the delineation of the domain boundaries (not
geology), and uncertainties in the interpretation where there is less data.
The massive zone of the supergene sulphide and hypogene domains is predominantly classified in the
Indicated category with some areas in the Inferred category. There is a shallow pitch to the mineralisation
in the northwest which marks the limit of the resource. In the southeast, 230m up to where the mineralisation
intersects the sinkholes, there is less drilling and resulting uncertainties in the geometry of the mineralised
zone, and this area has been classified as Inferred.
The disseminated zone has not been included in the Mineral Resource due to the lower density of data and
because it is all below the cut-off grade for mine planning. However, the mineralised material will be
included in future detailed mine scheduling as mining dilution.
For the massive zone, the geological model is defined to a reasonable level and there is sufficiently
accurate data coverage to produce local block estimates using OK. In parts of the massive zone there are
sufficient data for reasonably accurate local block estimates of grade (~80% of blocks populated by 1st
pass kriging). Local block estimation for density with reasonable accuracy was possible. The kriging
performance parameters, e.g. slope of regression, together with an assessment of the areas of blocks that
were populated by 1st pass kriging, were utilised to make a distinction between the Indicated and Inferred
classifications.
The results conform to the view of the Competent Person.
Changes in +105m Level supergene sulphide and hypogene zone Mineral Resources
Given the changes in the interpretation of the supergene sulphide and hypogene mineralised domain, a
direct comparison of updated and previous (2023) resource figures is difficult. However, the total tonnes
(Indicated and Inferred classification categories) are 1.1M, which is a decrease from 1.3M tonnes in 2023.
There is no notable change in the contained Cu tonnes. The contained Zn tonnes have decreased by
3,000t.
The 14% decrease in overall tonnes can be largely attributed to the exclusion of the lower grade
disseminated footwall unit. There was an increase in estimated density from 2.94 tonnes per m3 for the
previously combined disseminated and massive zones to 3.00 tonnes per m3 for the separated massive
zone. The estimated density for the separated disseminated zone is 2.59 tonnes per m3. The separation of
the disseminated footwall unit has resulted in an increase in copper grade of 16% in the massive unit. The
overall copper content has not materially changed from the 2023 estimate. The zinc content is more
significant in the excluded disseminated footwall unit, explaining the loss in 3,000 tonnes.
Metallurgy
Mixed oxide, supergene and hypogene sulphide ore, including ore extracted from the +105 mineralised
zone, was successfully treated by froth flotation to produce separate copper and zinc concentrates during
historical production in the 1980s2.
Metallurgical tests conducted by Orion on supergene sulphide mineralisation at the Brisbane Metallurgical
Laboratory in 2024 indicated the potential for producing a bulk concentrate. A simpler non-cyanide bulk
concentrate flow sheet was proposed.
• Feed grind ~ 80% passing 75 microns
• Concentrate Grade >20.5% Cu
• Copper recovery >85%
• Mass pull to concentrate ~ 10 – 12.5 % m/m
• Feed Cu : Zn ratio be controlled above 1
The above parameters guided the plant design, utilising established technology for the 2025 Definitive
Feasibility Study (DFS) study released contemporaneously with this report. Other recent tests indicated that
the separation of copper and zinc from the concentrate was complex, resulting in increased reagent
usage; consequently, this method was avoided.
Cut-off Grades & Mining Methods
The +105m Level supergene sulphide and hypogene zones Mineral Resource is reported above a 0.7% Cu
cut off. This is based on calculated breakeven calculations as part of the DFS.
The mineralised envelope was interpreted based on a 0.8% Cu cut off. This was based on geological
observations for the distinct lower grade disseminated footwall unit and the higher-grade hangingwall unit
2 Broekman B.R. and Penman D.W. The Prieska Experience: Flotation Developments in Copper-Zinc Separation. The Journal of South African Institute of
Mining Metallurgy, volume 91, no. 8, Aug 1991, pp 257-265.
where more massive sulphides dominate (Figure 2). The two distinct units have two clear sample
populations with a break at approximately 0.8% Cu. The massive sulphides occur as lenses but have been
grouped together into the 'massive zone' to generate a viable domain for mineral resource estimation.
The proposed mining method in the DFS is long hole open-stoping (Figure 3). Stopes of dimensions 12m x
12m x 12m are planned with a 12m level spacing.
Total Prieska Copper Zinc Mine Mineral Resource
The Deep Sulphide Mineral Resource of the Prieska Deposit, which was announced in December 2018 (refer
ASX/JSE release 18 December 2018), combined with the +105m Level Mineral Resource is summarised in
Table 3 below.
Table 3 Global Mineral Resource for the combined +105m Level and Deep Sulphide Mineral Resources of the PCZM1.
Cu Cu Zn Zn
Resource Classification Tonnes
(tonnes) (%) (tonnes) (%)
Indicated 19,000,000 220,000 1.17 670,000 3.60
Deep Sulphide Resource
Inferred 10,000,000 120,000 1.1 420,000 4.1
Indicated 700,000 5,000 0.73 5,000 0.77
+ 105m Level Oxides Resource
Inferred 300,000 3,000 1.0 2,000 0.8
+ 105m Level Supergene Sulphides Indicated 800,000 23,000 2.84 21,000 2.67
and Hypogene Resource Inferred 300,000 8,000 2.6 3,000 0.9
Total Indicated 20,000,000 240,000 1.22 690,000 3.47
Total Inferred 11,000,000 130,000 1.2 420,000 3.9
Grand Total 31,000,000 370,000 1.2 1,120,000 3.6
Note: Deep Sulphide Resource mineralisation interpretation wireframe cut-off = 3% Equivalent Zn (ZnEq = Zn% + Cu%x2). Resources stated at zero% Cu cut-off
+105m Level Mineral Resource oxide mineralisation interpretation wireframe cut-off = 0.3% Equivalent Cu (CuEq = Cu% + Zn%/2). Resource stated at 0.3% Cu cut-off
+105m Level Mineral Resource supergene sulphide and remnant hypogene mineralisation interpretation wireframe cut-off = 0.8% Cu. Resources stated at 0.7% Cu cut-off.
Numbers may not add up due to rounding in accordance with the JORC Code (2012).
For and on behalf of the Board.
Errol Smart
Managing Director and CEO
28 March 2025
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 Person's 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.
The information in this report that relates to Mineral Resources is based on information compiled by Mr Sean Duggan,
a Competent Person who is a Director and Principal Analyst at Z Star Mineral Resource Consultants (Pty) Ltd. Mr Duggan
(Pr.Sci.Nat) is registered with the South African Council for Natural Scientific Professionals (Registration No. 400035/01),
an RPO. Mr Duggan 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 Duggan 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 Reports
The Deep Sulphide Mineral Resource was reported in ASX/JSE Release of 18 December 2018: "Landmark Resource
Upgrade Sets Strong Foundation for Development of Prieska Zinc-Copper Project" available to the public on
http://www.orionminerals.com.au/investors/asx-jseannouncements/. Competent Person: Mr. Sean Duggan. Orion
confirms it is not aware of any new information or data that materially affects the information related to the Deep
Sulphide Mineral Resource included in the original market announcement. Orion confirms that all material assumptions
and technical parameters underpinning the Deep Sulphide Mineral Resource in the ASX/JSE Release of 18 December
2018 continue to apply and have not materially changed. Orion confirms that the form and context in which the
Competent Person's findings are presented here have not been materially modified from the original market
announcement.
The +105 Level Mineral Resource (HW Oxide and Oxide) was reported in ASX/JSE Release of 25 July 2023: "Prieska
Mineral Resource Increases Ahead of Trial Mining" available to the public on
http://www.orionminerals.com.au/investors/asx-jseannouncements/. Competent Person: Mr. Sean Duggan. Orion
confirms it is not aware of any new information or data that materially affects the information related to the +105 Level
HW Oxide and Oxide Mineral Resources included in the original market announcement. Orion confirms that all material
assumptions and technical parameters underpinning the +105 Level in the ASX/JSE Release of 25 July 2023 continue to
apply and have not materially changed. Orion confirms that the form and context in which the Competent Person's
findings are presented here have not been materially modified from the original market announcement.
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).
The Prieska Crown Pillar +105 Level Mineral Resource update, including JORC Code (2012) supporting information provided in Appendix 1, 2 and 3 thereof, is available on Orion's website at:
https://www.orionminerals.com.au/download-category/2025-asx-jse-announcements/
Date: 28-03-2025 09:21:00
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