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Airborne EM Survey On The Areachap Belt, Northern Cape, South Africa Completed With Positive Initial Results
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
Airborne EM Survey On The Areachap Belt, Northern Cape, South Africa Completed With Positive Initial
Results
- A 962km2 high power SkyTEM airborne EM survey completed on 24 January 2018.
- 6,018 line km of flights covering the survey area have been completed.
- Numerous discrete anomalies appear in the preliminary data set.
- AEM Anomalies detected over known Zn-Cu VMS and Ni-Cu intrusive deposits.
- A number of AEM anomalies coinciding with a paleo-seafloor, offer immediate follow-up targets.
Orion Minerals NL (ASX/JSE: ORN) (Orion or the Company) is pleased to provide an update on its regional
exploration activities on the Areachap Belt in South Africa. A helicopter borne magnetic and Electro Magnetic
survey (AEM or SkyTEM) over the Masiqhame and Disawell prospecting permits was completed on 24 January
2018 (Figure 1) (refer ASX release 14 December 2017).
“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.
Preliminary results for magnetic and SkyTEM data have been received and reviewed. The survey succeeded in
acquiring high quality data and initial indications are positive for the identification of priority follow-up targets.
Advanced processing is underway and is expected to assist in target ranking and identification of possible
additional, more obscure anomalies. Once targets have been ranked, the Company intends to start expanding
its exploration activities over the area in the March 2018 Quarter which will include ground proving and drilling
the anomalies to test for Zn – Cu rich Volcanogenic Massive Sulphide (VMS) and Ni – Cu magmatic deposits.
The survey demonstrates the value of applying modern airborne EM methods in the highly prospective Areachap
Belt. The Areachap Belt was the focus of only two short lived exploration booms in the 1970’s and early 1980’s
(following the discovery of the Prieska VMS deposit by Anglovaal in 1968). During this period, several VMS and
Ni-Cu occurrences were discovered. In recent decades the geological understanding of the style of
volcanogenic mineralisation found in the Areachap Belt, has led to numerous discoveries worldwide of clusters
of massive sulphides in “camps” surrounding known major deposits. The Areachap Belt was not explored during
the modern era of exploration and Orion now has the advantage of applying the improved geological
understanding of VMS deposits, combined with modern geophysical exploration tools to achieve similar
discoveries.
Details of SkyTEM survey undertaken
The SkyTEM survey covered 962km2 over the Masiqhame and Namaqua-Disawell Prospecting Permits. The survey
was 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.
Numerous AEM anomalies were identified during a preliminary review of the data by Orion’s Perth based
geophysical consultants, Southern Geoscience Consultants (Figure 2). Where the survey covered the known VMS
deposits Kantienpan and Boksputs and the Jacomynspan Magmatic Ni-Cu deposit, conductors were detected,
proving AEM to be effective for these deposits in the survey area.
Advanced processing of the data is ongoing. Following final processing of the data, the next step will be to
prioritise the AEM anomalies by:
- integration with existing geological data;
- reinterpretation of the regional geology aided by the newly acquired magnetic data; and
- detailed field mapping to confirm the geological setting taking into account the characteristics of VMS
deposits, including, spatial association with the paleo-seafloor, presence of alteration and structural
setting.
In addition to the AEM data, the accompanying magnetic data will significantly improve our understanding of
the geology and structure in this area of poor outcrop. A paleo-seafloor position was interpreted from available
regional geological data and mapped into a geographic information system (GIS) package for comparison to
the magnetic data. Current interpretations show that the magnetic signature associated with the paleo-seafloor
contact is prominent in the high quality magnetic data and provides a valuable additional tool in the regional
evaluation and ranking of the EM anomalies detected. A total of 19 AEM anomalies spatially associated with the
paleo-seafloor offer immediate targets for follow-up (Figure 3).
Orion’s Managing Director and CEO, Errol Smart, commented:
"The results from our advanced airborne survey are extremely gratifying and are providing encouragement for
continued exploration using modern techniques in the highly prospective Areachap Belt. We look forward to drill
testing the highest priority targets in 2018.”
Errol Smart
Managing Director and CEO
1 February 2018
ENQUIRIES
Investors Media JSE Sponsor
Errol Smart – Managing Michael Vaughan Barnaby Hayward Rick Irving
Director & CEO
Denis Waddell – Chairman Fivemark Partners, Australia Tavistock, UK Merchantec Capital
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Melbourne, VIC, 3000
Competent Persons Statement
The information in this report that relates to Orion’s Exploration Results at the Maisqhame Project and Namaqua-Disawell
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).
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