Wrap Text
Orion Initiates Regional Exploration on the Areachap Belt, Northern Cape, South Africa
Orion Minerals NL
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
(“Orion” or “the Company”)
ORION INITIATES REGIONAL EXPLORATION ON THE AREACHAP BELT, NORTHERN CAPE, SOUTH AFRICA
- A 962km2 high power SkyTEM airborne EM survey set to commence on 26 November 2017.
- EM Survey to investigate area containing 98kms combined strike of outcropping, highly prospective,
volcanogenic palaeo sea floor on Orion’s Prospecting Permit areas.
- The stratigraphic horizon being flown is highly prospective for Volcanogenic Massive Sulphide
Deposits.
- Numerous zinc-copper volcanogenic massive sulphide occurrences have historically been identified
in the survey area.
- The target area has not been subjected to modern geophysics and exploration since the 1980’s.
Orion Minerals NL (ASX/JSE: ORN) (Orion or the Company) is pleased to announce that following the very
successful initiation of the Mineral Resource drill out currently underway at the Prieska Zinc-Copper (Prieska)
Project, the Company intends expanding its activities to begin testing the highly prospective palaeo sea floor
located within its Northern Cape tenements which are known to host numerous Zn – Cu rich massive sulphide
mineral occurrences.
“Figures" referred to throughout this announcement can be viewed on the pdf version of the announcement,
available on the Company's website, www.orionminerals.com.au.
The belt was the focus of only a short lived exploration boom in the 1970’s and early 1980’s (following the
discovery of the Prieska Volcanogenic Massive Sulphide (VMS) deposit by Anglovaal in 1968), during which,
many large exploration companies such as Anglo American, Newmont and Anglovaal were successful in
identifying several additional VMS and Ni-Cu occurrences. However, only a few of these VMS occurrences
were investigated in detail or below a depth of 300m below surface.
Following archive data reviews, Orion’s exploration team believes that the exceptional exploration upside
within the Company’s Northern Cape tenements, combined with the large, advanced stage Prieska Project,
positions the Company for rapid growth.
During Orion’s first phase of ground electromagnetic (EM) and follow up drilling on the Kantienpan Prospect
(refer Figure 1) during 2016 (refer ASX releases 4 October 2016, 7 December 2016, 14 December 2016 and
25 January 2017), the Company demonstrated the potential for success of the application of modern EM as a
key tool for targeting VMS mineralisation. Modern EM methods have advanced a great deal since the last
systematic exploration took place in the Northern Cape belt and Orion stands to benefit from its research and
development of exploration techniques applicable for massive sulphides undertaken in the Fraser Range belt
in Western Australia during 2013-2014.
Orion’s exploration work at the Prieska Project and records of past production confirm that the Prieska VMS
deposit is an exceptionally large VMS body. Elsewhere in the world this style of deposit is characterised by
clusters of sulphide lenses called VMS districts. Deposit models for VMS districts support the view that where
one large deposit is identified in a mineral district such as the Prieska deposit, other large VMS deposits should
be found the same district (1.).
Details of planned SkyTEM survey
Orion has contracted SkyTEM, a leading airborne electromagnetic (AEM) survey company headquartered in
Denmark which offers state-of-the-art helicopter borne transient electromagnetic (TEM) and magnetic
acquisition system, to fly an extensive (6,025 line km) TEM survey covering large portions of the Company’s
Masiqhame and Disawell JV Project areas located in the Northern Cape (refer Figure 1).
The helicopter TEM survey will be flown with the highly innovative – SkyTEM312 high power technology for
deep target imaging. This high power system, with a peak moment up to 1,000,000 NIA, is optimised to provide
an exceptional depth of investigation due to the high moment mode with high current and low base frequency
of 12.5 Hz. This breakthrough technology is aerodynamically superior to any TEM system on the market and
as such, the data collected from the survey will contribute to the Company’s exploration success. The survey
is scheduled to commence on 26 November 2017.
(1.) Reference: Galley, A.G., Hannington, M.D., and Jonasson, I.R., 2007, Volcanogenic sulphide deposits, in
Goodfellow, W.D., ed., Mineral Deposits of Canada: A Synthesis of Major Deposit –Types, District Metallogeny,
the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral
Deposits Division, Special Publication No.5, p. 141 – 161.
Orion’s Managing Director and CEO, Errol Smart, commented:
"Orion has a rare opportunity to enhance the value of its Northern Cape projects by simultaneously progressing
advanced and early stage projects. The Company’s primary focus is to continue resource delineation drilling
at the advanced Prieska Project followed by drill testing of known nearby mineralisation. In addition, we have
decided to undertake target generation activity to identity high priority drill targets for follow-up, with the
objective of new discoveries becoming satellite operations to a potential Prieska Project production centre at
Copperton”
Errol Smart
Managing Director and CEO
16 November 2017
ENQUIRIES
Investors JSE Sponsor
Errol Smart – Managing Director & CEO Rick Irving
Denis Waddell – Chairman Merchantec Capital
T: +61 (0) 3 8080 7170 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: rick@merchantec.co.za
Media
Michael Vaughan Barnaby Hayward
Fivemark Partners, Australia Tavistock, UK
T: +61 (0) 422 602 720 T: +44 (0) 207 920 3150
E: michael.vaughan@fivemark.com.au E: orion@tavistock.co.uk
Suite 617, 530 Little Collins Street
Melbourne, VIC, 3000
Competent Persons Statement
The information in this report that relates to Orion’s Exploration Results at the Prieska Project complies with
the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves (JORC Code) and has been compiled and assessed under the supervision of Mr Errol Smart, Orion
Minerals Managing Director. Mr Smart (PrSciNat) is registered with the South African Council for Natural
Scientific Professionals, a Recognised Overseas Professional Organisation (ROPO) for JORC purposes and
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 Smart consents to the inclusion in this announcement of the matters based on his information
in the form and context in which it appears. The Exploration Results are based on standard industry practises
for drilling, logging, sampling, assay methods.
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. 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).
Date: 16/11/2017 08:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
