CEO and MD Errol Smart
JSE- and ASX-listed Orion Minerals has reported further “outstanding” assay results from the confirmation diamond drilling programme in the Flat Mines area at its Okiep copper project (OCP), in the Northern Cape, South Africa.
The latest results add further momentum to Orion’s development strategy for the OCP, building on the initial results reported on April 22 and confirming the geology and endowment of the Flat Mines area, the company notes in a statement.
The OCP ground holdings of 641 km² covers the majority of the area where a total of 105-million tonnes is reported to have been mined in the district over the past 100 years.
The Flat Mines area and the current drilling programme fall entirely within the executed mining right.
Results received to date from the last three of the five planned and completed holes at Flat Mine East (FME) have confirmed historical information from drilling by Gold Fields of South Africa in the 1990s, used in the mineral resource update announced in August 2023, where 9.4-million tonnes at 1.3% copper was reported for the Flat Mines, including 4.4-million tonnes at 1.3% copper at FME.
FME, which is a virgin discovery that is blind to surface, will form a key part of Orion’s early production plan for the OCP.
The intersections achieved to date support geological and grade distribution interpretations that were incorporated in mineral resource modelling and estimation for the project.
Drill hole OFMED154 returned 9.27 m at 3.01% copper and 15 m at 4.80% copper within 78 m at 1.57% copper, located 50 m along strike from previously reported hole OFMED153 (49 m at 4.89% copper).
Drill hole OFMED153 (final assays received) increased to 49.35 m at 5.05% copper, including 21.66 m at 9.41% copper.
Drill hole OFMED155 returned 50 m at 1.09% copper, including 18 m at 1.44% copper within 116.9 m at 0.75% copper.
Drilling of a planned 11 diamond drill holes totalling 5 800 m at FME, Flat Mine South and Flat Mine North to confirm historical drilling results, provide geotechnical information and generate material for additional confirmatory metallurgical testwork, is nearing completion.
“These drilling results further amplify the potential for the Flat Mines orebodies to replicate the typical nature of Okiep copper intrusive mineralisation, where zones of very high-grade mineralisation are commonly contained within large bodies of moderate grade.
“This clearly shows why this district has been such a prolific producer of copper for such a long period of time,” says Orion CEO and MD Errol Smart.
“We have been frustrated by the slow turnaround from accredited laboratories, which are overloaded with exploration samples. This is indicative of the intensity of activity in the copper exploration industry and is, in itself, an indicator of the challenges involved in accelerating mine development to counter the global metal supply deficit that is developing,” he avers.
“We are pleased to be nearing completion of our bankable feasibility studies so that we can progress to project finance and mine development on our brownfield redevelopment sites, in parallel with ongoing drilling and exploration to expand our resource base on our surrounding highly prospective mineral rights,” Smart adds.