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Major SkyTEM Airborne EM Survey Underway at Prieska Project, as Near-Mine Exploration Gathers Momentum
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
(“Orion” or “the Company”)
MAJOR SKYTEM AIRBORNE EM SURVEY UNDERWAY AT PRIESKA PROJECT, AS NEAR-MINE
EXPLORATION GATHERS MOMENTUM
• 143km2 high-power SkyTEMTM Airborne Electromagnetic survey commences at the Prieska Project.
• The survey is designed to explore for new zinc-copper deposits on Orion’s tenements within the highly
prospective Prieska Volcanogenic Massive Sulphide Camp.
• The survey will cover the Prieska Zinc-Copper deposit itself as well as five satellite deposits and their strike
extensions, in order to confirm the geophysical signature of known mineralisation and identify potential
new drilling targets.
• The target area has not been covered by modern geophysics since the 1980’s, with the last combined
airborne electromagnetic and magnetic survey being conducted in 1969.
• Electromagnetic geophysical methods have a proven discovery record in the Areachap Belt and
specifically at Prieska.
“Figures" and “tables” 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.
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
both advanced and early-stage projects with the potential to move quickly up the value curve. The Company’s
primary focus is to continue the Bankable Feasibility Study at the advanced Prieska Zinc-Copper Project, while
in parallel, drill testing known nearby exploration opportunities with the potential to become satellite operations
to our emerging Prieska production centre at Copperton.
The recently announced Ayoba satellite discovery, which was made with the very first deep diamond drill hole
completed as part of the Near-Mine Exploration Program, is a clear indication of the huge potential of this
emerging VMS belt.”
Orion Minerals Ltd (ASX/JSE: ORN) (Orion or Company) is pleased to announce the commencement of a
major SkyTEMTM airborne electromagnetic survey over its flagship Prieska Zinc-Copper Project (Prieska
Project) in South Africa’s Northern Cape region, as it continues to accelerate its Near-Mine Exploration
Program.
The intensification of near-mine exploration activities follows the successful completion of the Mineral
Resource drill-out of the Prieska Deep Sulphide Target and the announcement of an early breakthrough with
the recent discovery of a new satellite VMS discovery at the Ayoba Prospect, 5.3km south-west of the Prieska
Project (refer ASX release 28 November 2018).
Orion’s Prospecting Permits around the Prieska Project host a number of known zinc-copper deposits typical
of mineralisation in a Volcanogenic Massive Sulphide (VMS) camp (Figures 1 and 2). The near-mine area was
the focus of an exploration boom in the 1970’s and early 1980’s following the discovery of the Prieska VMS
deposit by Anglovaal in 1968. During this period, four satellite deposits to the Prieska deposit were discovered
and drilled, including the Annex and Kielder K1, K2 and K6 deposits.
Since the 1980’s and up to early 2017, when Orion started exploring the Deep Sulphide Target, the Prieska
Project area has not been subjected to modern exploration techniques. As shown by Orion’s early exploration
success (refer ASX releases 8 November 2017 and 28 November 2018), the Company stands to benefit from
fast-tracking exploration in the Prieska VMS district using the superior exploration techniques currently
available.
Electromagnetic (EM) geophysics has been proven internationally to be an effective exploration tool for
discovering VMS deposits. Orion has already achieved early success using various EM methods at Prieska.
The Company now plans to cover the entire Near-Mine tenements utilising a helicopter-borne Transient
Electromagnetic (TEM) and magnetic acquisition system (Figure 2).
Airborne Electromagnetics (AEM) played an early role in the discovery history around the historic Prieska
Copper Mine, when the Annex Deposit was discovered in 1969 by Anglovaal Ltd using the now out-dated
Barringer Input System. More recently, Orion demonstrated the potential for success in applying modern EM
methods for finding blind massive sulphide mineralisation at Prieska, with down-hole EM resulting in the
discovery of a massive sulphide extension to the Deep Sulphide Resource (refer ASX release 8 November
2017) and the more recent discovery of massive sulphide mineralisation at a depth of 610m below surface on
the Ayoba prospect by using a high-powered ground EM survey (refer ASX release 28 November 2018).
VMS deposits tend to cluster around giants like the Prieska Zinc-Copper Deposit. These clusters are referred
to as camps. Deposit models for VMS camps support Orion’s view that other large deposits which share the
same stratigraphic setting (the prospective horizon that hosts accumulations of VMS mineralisation) will be
present in a camp hosting a giant VMS deposit.
The current interpretation of the geology at Prieska suggests structural repetition of prospective horizon by
folding, as illustrated in Figures 4 and 5. Magnetic data to be acquired by the planned survey will significantly
aid the interpretation of the sub-outcrop geology.
Details of planned SkyTEM TM survey
Orion has contracted SkyTEMTM, a leading AEM survey company headquartered in Denmark which offers a
state-of-the-art helicopter-borne transient electromagnetic TEM and magnetic acquisition system, to fly the
822km line TEM survey covering all of the Company’s prospecting permits in the immediate Prieska Project
area, located in the Northern Cape, South Africa (refer Figure 2). The survey will be flown at 30m to 50m flight
height, 200m line and 2,000m tie line spacing.
The helicopter TEM survey will be flown with the highly innovative – SkyTEMTM 312 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 was
previously used by Orion to fly a 6,025km survey covering 962km 2 over the Masiqhame and Namaqua-
Disawell prospecting rights, successfully detecting known VMS and Ni-Cu deposits and detecting a number
of conductors prioritised for follow-up on these permits (refer Figures 1 and 3). The survey commenced on 1
December 2018.
Errol Smart
Managing Director and CEO
3 December 2018
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 Person’s Statement
The information in this report that relates to Exploration Results is not in contravention of 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’s 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.
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)
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