Wrap Text
New Standout Intercepts Confirm Down-Dip Continuation of High Grade Copper Mineralisation at Flat Mine South
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
New Standout Intercepts Confirm Down-Dip Continuation of High-Grade Copper Mineralisation at
Flat Mine South
Latest diamond hole returns assays of 24.95m at 4.14% Cu within 59.00m at 3.14% Cu
• Outstanding assay results received for a diamond drill hole completed recently at Flat Mine South,
which returned an intersection of 24.95m at 4.14% Cu within 59.00m at 3.14% Cu.
• The intersection confirms that high-grade copper mineralisation continues in an up-thrown and
repeated fault block position.
• Drilling is continuing at Flat Mine South to further test the down-dip extension of high-grade copper
mineralisation in a previously untested area.
• A ground geophysical program is also in progress in the Flat Mines area. Drill testing of geophysical
targets is underway.
Orion's Managing Director and CEO, Errol Smart, commented:
"Our ongoing drilling at the Okiep Project continues to deliver the highly anticipated extensions of previously
intersected wide, high-grade copper mineralisation, confirming the substantial upside of this project.
Importantly, the newly intersected mineralisation is at the foot of the proposed mine development planned for
Flat Mine South, to extract the existing Mineral Resource."
Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to report final assay results from the first drill
hole completed to test down-dip continuity in a block of structurally uplifted high-grade copper mineralisation
at Flat Mine South (FMS), part of 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
outstanding outcomes of the recently completed confirmation drilling program, which 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).
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. The Flat Mines area and the current drilling
program fall entirely within executed Mining Right NC10150MR.
The Mining Right is surrounded by the newly granted prospecting rights, NC12755PR and NC12848PR (refer
ASX/JSE release 13 August 2024), which host several exciting historically drilled prospects and historical mines that
offer the potential for additional Mineral Resources through future drilling.
Results reported in this announcement have confirmed reverse faulting and vertical repetition of previously
intersected high-grade copper mineralisation (Figure 3) and suggest potential for further down-dip extensions
below the mineralisation intercepted in drilling by Newmont and Goldfields of South Africa (GFSA) in the 1980s
and 1990s and Orion's confirmation drilling program in 2024 (Figure 4).
The historical drilling information underpinned Orion's updated Mineral Resource for the Flat Mines deposits (refer
ASX/JSE release on 28 August 2023) of 9.3Mt at 1.3% Cu (Table 1)1. This included 3.4Mt at 1.4% Cu at FMS inclusive
of an Indicated Mineral Resource of 2.6Mt at 1.35% Cu (Table 1)¹.
Table 1: Mineral Resource Statement for the Flat Mine North, Flat Mine East and 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 in accordance with the JORC Code guidance.
Resources are reported at a 0.7% Cu cut-off grade.
Flat Mine South Down-dip Drilling Program
Following the successful completion of the Flat Mines confirmation drilling program in August 2024, two drill rigs
were retained on site at FMS to test for extensions of high-grade mineralisation beyond the margins of the current
Mineral Resource.
At FMS, historical GFSA holes and Orion holes OFMSD077 and OFMSD079 (refer ASX/JSE releases 9 July 2024, 3
September 2024) suggest that copper mineralisation may remain open down-dip for up to 200m within an
untested area encompassing a strike length of 300m (Figures 3 and 4).
Drill holes OFMSD080 and OFMSD081 have been completed to date with holes OFMSD082 and OFMSD083
currently in progress. Importantly, the upper area has now delivered multiple drill intersections representing
vertical repetitions of the wide and high-grade mineralisation.
Drill hole OFMSD080 intersected 26.12m at 3.02% Cu from 535.00m and 24.95m at 4.14% Cu from 567.00m within
a broader zone of 59.00m at 3.14% Cu from 533.00m (Table 2). This intersection is located approximately 40m
down-dip from OFMSD077, which intersected 43.00m at 3.41% Cu from 527.00m (Figure 3).
Drill hole OFMSD080 was targeted to better understand a possible reverse fault interpreted between Orion drill
hole OFMSD077 and historical Goldfields drill hole FMS053D1 (Figure 3). The mineralised intercept in OFMSD077 is
10 metres away from drill hole FMS053D1 but sits 40m up-dip of the projected down-dip extension.
The intercept in OFMS080 likewise sits 30m above the projected intersection. This can best be explained by
reverse faulting, which is supported by evidence of shearing and structural displacement observed in the core
of OFMSD077 and OFMSD080, with references to strong foliations, shearing and possible fault zones in geological
logs for GFSA holes FMS055, FMS057 and FMS053D1.
The repeated wide high-grade zones are located approximately 500m below surface (Figure 4) and could be
accessed from the foot of the proposed mine development being assessed as part of the ongoing Bankable
Feasibility Study to extract the current Mineral Resource which extends from 150m to 750m vertical depth.
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. The Company 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.
The interpreted presence of reverse faulting represents significant potential for Mineral Resource growth in the
targeted vertical interval. Drill hole OFMSD082 is currently in progress to test further down-dip continuity of the
high-grade copper mineralisation and to confirm the current structural interpretation.
Drill hole OFMSD081 was drilled to test down-dip extensions to the mineralisation intersected in OFMSD079. Assay
results from this hole are awaited and are anticipated to be reported mid-November 2024.
Figure 1: Plan showing historical and Orion drill holes, interpreted mineralisation envelopes and extent of the Mining Right.
Assay Results
Results received for FMS are summarised in Table 2 below.
Internal waste rock widths up to 3m are included within the reported intersection widths, providing opportunities
for upgrading material using 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.
Table 2: Summary table of drill results to date for FMS prospect (minimum cut-off of 0.7% Cu with maximum 3m consecutive
internal waste allowed). Intersections and inclusions with grades mostly above 1% Cu are tabulated. The data was not
capped. Note: widths are down-hole drill widths.
Mineralisation
Hole ID
Notes From (m) To (m) Interval (m) % Cu
533.00 592.00 59.00 3.14
OFMSD080 including 535.00 561.12 26.12 3.02
including 567.05 592.00 24.95 4.14
Figure 2: Plan of OFMSD080 with adjacent holes.
Figure 3: Cross-section of OFMSD080 with adjacent holes.
Figure 4: Long section of FMS down-dip drilling target.
Geophysical Program
Geophysical orientation surveys are currently being conducted over the deposits in the Flat Mines Area applying
magnetic, gravity and electrical methods including ground, drone and down-hole geophysical techniques to
assist in ranking a number of priority drill targets already identified in a cluster around the proposed Flat Mines Mill
Site.
Areas being covered include historical deposits and mineralisation, previously identified by mapping and various
geophysical anomalies from the 2021 SkyTEM™ survey (refer ASX/JSE release 1 September 2021). This work is being
prioritised to ensure appropriate sterilisation before placement of long-term surface infrastructure for the Flat
Mines development.
For and on behalf of the Board.
Errol Smart
Managing Director and CEO
23 October 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" and 3 September 2024: "Okiep Confirmation Drilling Successfully Completed",
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: Drill hole collar information and assay results from drill program at Flat Mine South
Table 3: Drill hole collar information for FMS prospect. Coordinates in LO17 Hartebeesthoek 94.
Hole ID Easting Northing RL Azimuth Dip Depth (m) Comment
OFMSD080 -75187.00 3270970.27 762.09 180 -69 664.16 Completed
OFMSD081 -75259.02 3270991.79 767.43 167 -74 739.40 Completed
– assays
pending
OFMSD082 -75187.17 3270885.84 749.34 178 -68 800.00 Current
OFMSD083 -75121.00 3270989.00 762.00 180 -67 700.00 Current
Table 4: OFMSD080 drill assay results.
Hole ID From (m) To (m) % Cu Hole ID From (m) To (m) % Cu
OFMSD080 528.00 529.00 0.0003 OFMSD080 568.00 569.00 3.8900
OFMSD080 529.00 530.00 0.0039 OFMSD080 569.00 570.00 2.4000
OFMSD080 530.00 531.00 0.0310 OFMSD080 570.00 571.00 3.5600
OFMSD080 531.00 532.22 0.0074 OFMSD080 571.00 572.00 3.1500
OFMSD080 532.22 533.00 0.2900 OFMSD080 572.00 573.00 5.9400
OFMSD080 533.00 534.00 0.7400 OFMSD080 573.00 574.00 3.6500
OFMSD080 534.00 535.00 0.6830 OFMSD080 574.00 575.00 4.2500
OFMSD080 535.00 536.00 2.7700 OFMSD080 575.00 576.00 2.7200
OFMSD080 536.00 537.00 2.3400 OFMSD080 576.00 577.00 4.3100
OFMSD080 537.00 538.00 1.8750 OFMSD080 577.00 578.00 2.9400
OFMSD080 538.00 539.00 2.8700 OFMSD080 578.00 579.00 4.5300
OFMSD080 539.00 540.00 1.9400 OFMSD080 579.00 580.00 3.3300
OFMSD080 540.00 541.00 2.6300 OFMSD080 580.00 581.00 5.2000
OFMSD080 541.00 542.00 0.8120 OFMSD080 581.00 582.00 5.3500
OFMSD080 542.00 543.00 3.2900 OFMSD080 582.00 583.00 3.3300
OFMSD080 543.00 544.00 4.4200 OFMSD080 583.00 584.00 3.2900
OFMSD080 544.00 545.00 4.5800 OFMSD080 584.00 585.00 4.6200
OFMSD080 545.00 546.00 2.1800 OFMSD080 585.00 586.00 3.7100
OFMSD080 546.00 547.00 5.2500 OFMSD080 586.00 587.00 4.9200
OFMSD080 547.00 548.00 2.3900 OFMSD080 587.00 588.00 8.7900
OFMSD080 548.00 549.00 6.6300 OFMSD080 588.00 589.00 4.5800
OFMSD080 549.00 550.00 4.6500 OFMSD080 589.00 590.00 3.6600
OFMSD080 550.00 551.00 2.2300 OFMSD080 590.00 591.00 4.2100
OFMSD080 551.00 552.00 2.1600 OFMSD080 591.00 592.00 3.7100
OFMSD080 552.00 553.00 4.1700 OFMSD080 592.00 593.00 0.0581
OFMSD080 553.00 554.00 1.6650 OFMSD080 593.00 594.00 0.0713
OFMSD080 554.00 555.00 3.4000 OFMSD080 594.00 595.00 0.0225
OFMSD080 555.00 556.00 1.4050 OFMSD080 595.00 596.00 0.0495
OFMSD080 556.00 557.00 3.3000 OFMSD080 596.00 597.00 0.6570
OFMSD080 557.00 558.00 5.7200 OFMSD080 597.00 597.70 0.4290
OFMSD080 558.00 559.00 0.3790 OFMSD080 597.70 598.80 0.0088
OFMSD080 559.00 560.00 2.2600 OFMSD080 598.80 600.00 0.0031
OFMSD080 560.00 561.12 3.2200 OFMSD080 600.00 601.00 0.0032
OFMSD080 561.12 562.25 0.0125 OFMSD080 642.00 644.00 0.0017
OFMSD080 562.25 563.50 0.0021 OFMSD080 644.00 646.00 0.0149
OFMSD080 563.50 564.17 2.8000 OFMSD080 646.00 648.00 0.0180
OFMSD080 564.17 565.00 0.0608 OFMSD080 648.00 650.00 0.1035
OFMSD080 565.00 566.00 0.0032 OFMSD080 650.00 652.00 0.3200
OFMSD080 566.00 567.05 0.0181 OFMSD080 652.00 654.00 0.3140
OFMSD080 567.05 568.00 3.3400 OFMSD080 654.00 656.00 0.0306
Appendix 2: 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.
• Include reference to measures taken to ensure sample representivity • HQ core size was only drilled in the upper weathered portion and no HQ
and the appropriate calibration of any measurement tools or systems core was sampled.
used.
• Aspects of the determination of mineralisation that are Material to the • One-metre sample length was taken in most cases, with two-metre
Public Report. sample length in poorly mineralised zones and internal waste. Sample
lengths were varied to honour geological and mineralisation
boundaries, with a maximum sample size of 2.10m and a minimum
sample size of 22cm.
• In cases where 'industry standard' work has been done this would be • Areas of sampling were selected based on visual observations and
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m readings from a handheld Niton XL3t 500 XRF analyser (standard
samples from which 3 kg was pulverised to produce a 30 g charge for analytical range >25 elements from S to U with additional elements Mg, Al,
fire assay'). In other cases more explanation may be required, such as Si and P via helium purge).
where there is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg submarine nodules)
may warrant disclosure of detailed information.
Drilling techniques • Drill type (eg core, reverse circulation, open-hole hammer, rotary air • Diamond core drilling was undertaken.
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type, • HQ and NQ size core was drilled using a standard tube. HQ core size
whether core is oriented and if so, by what method, etc). was only drilled in the upper weathered portion of approximately 6m. No
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
on it is placed in the core box at the end of each run. At the core yard,
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
the stick-up measured at the rig to determine the core loss.
• Measures taken to maximise sample recovery and ensure • Core recovery was found to be very good (>98%) within the mineralised
representative nature of the samples. zone.
• Whether a relationship exists between sample recovery and grade and • Ground conditions below the weathered zone were very good.
whether sample bias may have occurred due to preferential
loss/gain of fine/coarse material.
• 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
studies.
• Whether logging is qualitative or quantitative in nature. Core (or • The core was logged to a level of detail that is sufficient to support
costean, channel, etc) photography. appropriate Mineral Resource estimation, mining studies and
metallurgical studies.
• The total length and percentage of the relevant intersections • Geological logging was qualitative and was carried out using a
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.
• OFMSD080 was entirely logged with a depth of 664.16m.
• 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 riffled, 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
utilises industry best practice for sample preparation for analysis
involving drying of samples, weighing samples, crushing to <2mm if
required. Crushed samples are riffle-split and a 250g portion pulverised with
+85% passing through 75 microns.
• Quality control procedures adopted for all sub-sampling stages to • Crushing and pulverising QC tests were applied by ALS and found
maximise representivity of samples. acceptable.
• Measures taken to ensure that the sampling is representative of the in situ • Quarter core field duplicates were taken for three samples.
material collected, including for instance results for field
duplicate/second-half sampling.
• Whether sample sizes are appropriate to the grain size of the material • All sample sizes are deemed appropriate.
being sampled.
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,
Si and P via helium purge.
• Samples submitted to ALS were analysed for base metals and gold.
• All samples were analysed by an appropriate high-grade aqua regia
ICP-AES method, ALS code ME-ICP41a.
• Samples where assays returned >5% Cu were re-assayed by aqua regia
digestion and ICP-AES method, ALS code MEOG-46.
• For geophysical tools, spectrometers, handheld XRF instruments, etc, the • Samples were assayed for gold by fire assay and AAS, ALS code AU-
parameters used in determining the analysis including instrument make AA25 method.
and model, reading times, calibrations factors applied and their • Orion inserted CRMs every 10th sample. A total of fifteen CRMs were
derivation, etc inserted. CRMs were alternated throughout the sample stream and
where possible, matched to the sample material being analysed.
• Three CRMs were used. AMIS0399 (1.014 %Cu), AMIS0809 (2.97 %Cu)
and AMIS0088 (0.3 %Cu).
• All CRMs returned acceptable results within two Standard Deviations of the
CRM average.
• Nature of quality control procedures adopted (e.g. standards, blanks, • Chip blanks are inserted at the beginning of each batch and after any
duplicates, external laboratory checks) and whether acceptable sample that may be considered high grade. A total of six blanks were
levels of accuracy (ie lack of bias) and precision have been used. Acceptable results were returned indicating no contamination.
established.
• The laboratory conducts their own checks which are also monitored.
The accuracy and precision of the geochemical data reported on has
deemed to be acceptable.
• Results from the three-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 OFMSD080 was planned to test downdip continuity of
mineralisation intersected in Orion drill hole OFMSD077. It is not a twin
hole.
• Documentation of primary data, data entry procedures, data • The mineralisation intersection in OFMSD080 is located approximately
verification, data storage (physical and electronic) protocols. 40m from the mineralised intersection in OFMSD077 which was recently
drilled as part of the Orion confirmation drilling program. The widths
and grades broadly correspond.
• Discuss any adjustment to assay data. • 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 prospect holes were initially located using a
down-hole surveys), trenches, mine workings and other locations used in hand-held Garmin GPS and have been subsequently surveyed by a
Mineral Resource estimation. 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 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. • OFMSD080 intersected mineralisation approximately 40 metres from
distribution mineralisation intersected in drill hole OFMSD077. The hole was drilled
to test for downdip continuity and to test the latest structural
interpretation.
• Whether the data spacing and distribution is sufficient to establish the • The drill spacing is considered sufficient to establish the degree of
degree of geological and grade continuity appropriate for the geological and grade continuity appropriate for the Mineral Resource
Mineral Resource and Ore Reserve estimation procedure(s) and and Ore Reserve estimation and classifications.
classifications applied.
• Whether sample compositing has been applied. • 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. OFMSD080 was inclined at -68°.
• 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.
Newmont and GFSA:
• O'Okiep Copper Company (Pty) Ltd (OCC), historically owned at
• The security of the tenure held at the time of reporting along with any different times by Newmont, GFSA and Metorex, held vast areas under
known impediments to obtaining a licence to operate in the area. 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
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
ORN ASX/JSE Announcement 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 1 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 (eg cutting of high
grades) and cut-off grades are usually Material and should be stated. • Allowance was made for 3m internal waste.
• Where aggregate intercepts incorporate short lengths of high grade • A cut-off of 1.0% Cu was used for the higher-grade inclusions.
results and longer lengths of low grade results, the procedure used for
• Weighted grades were calculated as follows: %Cu x sample length(m)
such aggregation should be stated and some typical examples of
such aggregations should be shown in detail.
• The assumptions used for any reporting of metal equivalent values should • The Competent Person is of the opinion that the above aggregation
be clearly stated. methods are acceptable for this type of deposit.
• These aggregation methods were also applied to historical holes and
assay results in previous announcements.
• No metal equivalents are reported.
• No capping of assay results was required.
Criteria JORC Code explanation Commentary
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 -58° to -65° towards the
angle is known, its nature should be reported. south while the mineralisation is expected to dip close to 80° towards the
north.
• If it is not known and only the down hole lengths are reported, • Down holes lengths are reported in all instances apart from where true
there should be a clear statement to this effect (eg 'down hole widths (TW) are specified
length, true width not known').
• 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
reported These should include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional views. • Drilling data was incorporated and monitored in Micromine™
software together with interpretation models based on the available
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
results; geochemical survey results; bulk samples – size and method of • Surface geophysical surveys are being undertaken and include
treatment; metallurgical test results; bulk density, groundwater, ground, drone and downhole magnetics, gravity and electrical
geotechnical and rock characteristics; potential deleterious or methods. The objectives of the work is to provide baseline survey
contaminating substances. information over known and well-described mineralisation so as to
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.
Criteria JORC Code explanation Commentary
• Historical detailed surface mapping is interpreted and utilised during drill
hole planning.
• 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 is determined by measuring
and subtracting the wet weight from the dry weight using an electronic
scale. Care is taken to clean and zero the scale between each weighing.
The intact sample portion is first weighed in air and the weight recorded.
The sample is then weighed, while completely submerged in clean
water within a measuring container. The mass of container and water
are deducted for net submerged weight and volume displacement
read on measuring container. The sample is then removed and placed
back into the core tray in the correct position and orientation. The
procedure is 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 (eg tests for lateral • Drilling is continuing on Flat Mine South prospect.
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.
18
Date: 23-10-2024 09:05:00
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