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ORION MINERALS LIMITED - Orion further expands Mineral Resources at the Okiep Copper Project, Flat Mines Area

Release Date: 29/03/2021 09:09
Code(s): ORN     PDF:  
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Orion further expands Mineral Resources at the Okiep Copper Project, Flat Mines Area

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 further expands Mineral Resources at the Okiep Copper Project, Flat Mines Area


Resource estimates completed for three additional near surface deposits, increasing the total Mineral Resource at
the OCC to 11.5Mt at 1.4% Cu

  -   Due diligence work at the Okiep Copper Project (OCP) has defined Inferred Mineral Resource estimates
      for a further three deposits in the Flat Mines area, all of which represent potential open pit mining
      opportunities.

  -   The three additional Resource areas are at Flat Mine (Nababeep), Jan Coetzee Mine and Nababeep
      Kloof Mine.

  -   Mineral Resources across the three deposits total 2.5Mt at 1.4% Cu1, which, in addition to the previously
      announced Resource of 9Mt at 1.4% Cu (refer ASX/JSE release 10 February 2021), brings the total Mineral
      Resources within the Flat Mines Area of the OCP to 11.5Mt at 1.4% Cu.

  -   The additional Mineral Resources are based on exploration and drilling data contained within the
      extensive OCC exploration database secured by Orion last month (refer ASX/JSE release 15 February
      2021), confirming the outstanding value of this data acquisition.

  -   Other exploration and mining drill targets and historical mines are currently being modelled, with the
      potential to deliver further growth in the OCP Mineral Resource.

 Orion’s Managing Director and CEO, Errol Smart, commented on the results:

 “The delineation of additional Mineral Resources within the Okiep Copper Project (OCP) is a very positive result
 for Orion which provides further evidence of the exceptional value we’ve been able to unlock through the
 recent access and option agreement to acquire of the O’Okiep Copper Company (OCC) archives.

 The three latest deposits bring our total Mineral Resource within the OCP to 11.5 million tonnes grading 1.4 per
 cent copper, which is a remarkable achievement given we only signed the option agreement over the OCP
 and commenced due diligence in early February.

 “We have a large number of additional targets and historical mines currently being modelled, which we believe
 offer strong potential to further expand the OCP Resource base.”


 1Mineral Resource reported in ASX release of 10 February 2021: “Orion reports maiden JORC Mineral Resource for the Okiep Copper Prospect,
 Flat Mines” available to the public on www.orionminerals.com.au/investors/market-news. Competent Person Mineral Resource: Dr Dion
 Brandt. 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.


Orion Minerals Limited (ASX/JSE: ORN) (Orion or Company) is pleased to report Mineral Resource estimates for
three additional, near surface deposits that form part of the Okiep Copper Project (OCP), where Orion is currently
undertaking due diligence work associated with the acquisition and option agreement announced on 2
February 2021.

The Inferred Mineral Resources, as stated in Table 1 below, have been estimated for the Flat Mine (Nababeep)
(FM, figures 2 and 3), Jan Coetzee Mine (JCM, figures 4 and 5) and Nababeep Kloof Mine (NKM, figures 6 and 7)
deposits, and total 2.5 million tonnes grading 1.4% copper for 35,000 tonnes of contained copper.

Together with the previously reported Mineral Resources for the Flat Mine North, Flat Mine East and Flat Mine
South deposits (refer ASX / JSE release 10 February 2021), these latest Resource estimates increase the total
Mineral Resource at the OCP to 11.5 million tonnes grading 1.4% copper for 159,000 tonnes of contained copper.

The Mineral Resource estimations are based on historical drilling data and were estimated by a Competent
Person and classified in accordance with the 2012 Edition of the Australian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves (JORC code 2012) with supporting information in Appendices 1 and
2.

                                          Measured                      Indicated                                  Inferred
    Mine / Prospect
                                Tonnes      % Cu     t Cu     Tonnes       % Cu        t Cu         Tonnes           % Cu        t Cu

    Flat Mine (Nababeep)*            -        -        -         -           -           -         1,000,000          1.4      15,000

    Jan Coetzee Mine*                -        -        -         -           -           -         1,000,000          1.4      14,000

    Nababeep Kloof Mine*             -        -        -         -           -           -           500,000          1.2       6,000

    Total*                           -        -        -         -           -           -         2,500,000          1.4      35,000


 *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.
        

Table 1: Inferred Mineral Resource Statement for the Flat Mine (Nababeep), Jan Coetzee Mine and Nababeep Kloof Mine.


Figure 1: SAFTA/Orion prospecting and mining rights showing previously-reported (blue) and additional (orange) Mineral Resources.

                                                                                                                                        
                                            Measured                          Indicated                               Inferred
     Mine / Prospect
                                     Mt       % Cu        t Cu       Mt        % Cu          t Cu            Mt           % Cu      t Cu

     Flat Mine (Nababeep)             -          -          -        -          -              -             1.0           1.4    15,000

     Jan Coetzee Mine                 -          -          -        -          -              -             1.0           1.4    14,000

     Nababeep Kloof Mine              -          -          -        -          -              -             0.5           1.2     6,000

     Flat Mine East1                3.166      1.43     45,000     0.800       1.11          8,900            -             -         -

     Flat Mine North1               0.339      1.27      4,300     0.970       1.50         14,500            -             -         -

     Flat Mine South1                  -         -          -      3.321       1.41         45,600           0.4           0.8     3,000

     Total                          3.505      1.41     49,300     5.001       1.38         69,000           3.0           1.3    38,000


Table 2: Total Mineral Resource Statement for the Flat Mines Area of the OCP (0.7% Cu cut-off).


Geology and Interpretation


The Okiep Copper Deposits are Orogenic Type Copper Deposits hosted in mafic to ultra-mafic intrusive bodies
in the western part of the Namaqua Complex, South Africa. Mines in the Okiep district produced 105.6Mt at 1.71%
Cu since the 1900’s2.

Copper deposits are hosted by easterly-trending mafic/ultramafic dykes and sills. Some 1,700 of these intrusions
occur in the district. A structural control on intrusives in the form of “steep structures” or monoclinal folds is well
established. Copper mineralisation occurs as disseminations of chalcopyrite and bornite with local massive
sulphide concentrations within and adjoining mafic intrusive bodies.

The intermediate and basic mineralised rocks are structurally controlled with pinching and swelling a common
feature, in both strike and dip.

A strong correlation is recognised between high-grade massive ore and at least three favourable lithological
target horizons, with high grade blows forming where the dykes cut these three specific lithologies:

    •    Springbok Quartzite and Schist;

    •    Mixed Zone or Wolfram Schist; and

    •    Ratelpoort Quartzite and Schist.

The best analogue to the Okiep copper district is probably the copper district of the Curaçá River Valley in Brazil,
which hosts quoted deposits of 180Mt of copper sulphide grading 1% copper, including 5 million tons of copper
oxide material at a grade of 0.6% Cu3. Production came from both underground and surface workings.

The Flat Mine (Nababeep) mineralisation occurs as one relatively continuous east-west striking body. The known
mineralised portion is at least 200m long, strikes east – west and dips steeply towards the north (figures 2 and 3).
The mineralised body occurs at surface to shallow sub-surface and was historically mined down dip.

Mineralisation at Jan Coetzee Mine also has a general east-west strike and a length of approximately 230m, it
occurs as numerous steep northerly dipping lenses (dyke slivers), figure 4. An apparent gap exists between the
“main” mineralisation body and another body located to the west.

The Nababeep Kloof Mine mineralised intermediate-basic rocks generally strike east-west and are outcropping.
It has no discernible dip and has a general “rod” or lens geometry, figure 7. The mineralised body strikes at least
120m – 150m.

2Lombaard A.F,, in Annhauser C.R., and Maske S. (eds). The Copper Deposits of the Okiep Copper District, Namaqualand in Mineral
Deposits of Southern Africa. 1982 pp 1421 - 1445.
3Hasui Y.,Del’Rey L.J.H., Silva F. J.L., Mandetta P., De Moraes J. A. C., De Oliveira J. G., and Miola W. Geology and Copper Mineralisation of
Curaçá River Valley in Bahia. Revista Brasileira de Geodencias vol 12(1-3) March 1982.
                                                                                                                                             

Drilling Techniques


A total of 33 surface drill-holes totalling 5,462m of drilling at Flat Mine (Nababeep), 33 surface holes (3,790m) at
Jan Coetzee Mine and 44 surface holes (2,763m) and 26 underground holes (1,072m) at Nababeep Kloof Mine
were captured in the drilling database and were used to model the Mineral Resources (Figure 1, Table 3). All
holes were drilled using diamond drilling.

All historical collars were surveyed using a total station theodolite by a qualified surveyor. Down hole surveys of
the historical holes were done using and Eastman survey tool.

Historical drilling was primarily carried out by OCC when a Newmont subsidiary and later as a Gold Fields of South
Africa (Pty) Ltd (GFSA) subsidiary, all of which were reputable mining companies operating in South Africa during
the 1980’s.

Historical AX or BQ (OCC) size diamond drill core was used for analysis of grades. Where AX size core was drilled,
whole core was sampled. In the case of BQ core, core was split and the full length of half-core was submitted
for assay. BQ size was later used by GFSA.

No twin drilling was done on the Flat Mine (Nababeep), Jan Coetzee Mine and Nababeep Kloof Mine deposits,
however recent twin drilling was carried out by current owners at Flat Mine North and South (refer ASX release 10
February 2021). A good correlation between the historical and recent twin holes was achieved


Sampling and Sub-Sampling Techniques


Historical diamond AX or BQ whole core was used for analysis of grades.

For diamond drilling carried out by OCC between 1953 and 1978, there is limited information available on
sampling techniques for core. It is considered that there would be procedures in place to the industry best
practice standard at that time.

Samples by OCC and GFSA were taken over two meter intervals adjusted to accommodate geological
contacts. OCC submitted whole core to the lab (AX core size), except for a 10cm piece of core left as a
reference. GFSA cut the BQ core at the core-yard and half core samples were taken. The entire sample length
was cut and sampled.

Exploration is considered to have been carried out under the supervision of OCC. In the Competent Person's
opinion, the sampling and sub-sampling was accurate, precise and fit for the purpose of resource estimation.
The OCC successfully operated copper mines in the district for more than 50 years and has a proven record of
converting resources to reserves.


Sample Analysis Method


Historical samples were prepared and analysed at the OCC on-mine laboratory in Nababeep. No official records
exist for laboratory procedures for the OCC laboratory. Core samples were reportedly crushed, split and assayed
for copper content by atomic absorption techniques 4. No certified reference material, blanks and duplicates
were inserted, however the OCC laboratory inserted in-house standard reference material with each batch. In
the Competent Person’s opinion Sampling analysis was according to industry’s best practises and is acceptable
for inferred resource estimation.


Estimation Methodology


Mineralised zones (“grade shells” for all three deposits (Flat Mine (Nababeep), Jan Coetzee Mine and Nababeep
Kloof Mine) were delineated by using a 0.5% Cu cut-off grade shell.
Samples were composited to 1m; no capping was applied to all three deposits.
Interpolation of the composite data was used to calculate block Cu grades using omni-directional variograms
(50m range) and inverse distance squared estimation.


4Gadd-Claxton D.L. The Economic Geology of the Okiep Copper Deposits, Namaqualand, South Africa. M.Sc. (Mineral Exploration)
dissertation, Rhodes University, Grahamstown, 1981.
                                                                                                                               
Block model cells of 5m x 5m x 2.5m were used for all three estimations. Sub-celling was applied.

Historical relative densities (SG t/m3) were determined using the Archimedes method by weighing the core in air
and water respectively. Average SG’s were applied and were not estimated.

No differentiation was made between the oxide and sulphide mineralisation, generally the oxide component is
insignificant within the OCP.

In the Competent Person’s opinion the estimation methodologies are suitable for the type of deposit and nature
of the data and can be used to classify the estimate in accordance with the JORC Code (2012).


Resource Classification


Confidence in the geological and mineralisation models and geological continuity allowed the incorporation
and use of the entire drilling database. Confidence is further based on historical underground plans, cross
sections, long sections, and production records.

These shallow sulphide resources are classified as Inferred. This reflects potential uncertainties relating to
mineralised envelope delineation (and therefore the associated volume estimation), as well as that most of this
resource estimation is based on historical data.

Twin and some infill drilling will be required to increase the confidence and upgrade the Inferred Resources.

The Resource classification has been carried out in accordance with the JORC Code (2012). The grade and
densities are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail
to support mine planning and evaluation of the economic viability of the deposit. Geological evidence has
been derived from adequately detailed and reliable exploration and sampling gathered through appropriate
techniques, and is sufficient to assume geological and grade continuity between data points.

In the Competent Person's view, it is a realistic inventory of the mineralisation which, after preliminary evaluation
of technical, economic and development conditions, might, in whole or in part, become economically
extractable. In the Competent Person's opinion, it is more likely than not that there are reasonable prospects for
eventual economic extraction of the Flat Mine (Nababeep), Jan Coetzee Mine and Nababeep Kloof deposits.


Cut-off Grades


Mineralised zones (“grade shells” for all three deposits (Flat Mine (Nababeep), Jan Coetzee Mine and Nababeep
Kloof Mine) were delineated by using a 0.5% Cu lower cut-off grade shell. Historical modelling and resource
delineation has shown that a geological cut-off grade of 0.5% Cu yields representative grade shells for this type
of mineralisation.

Mineralisation delineation is based on available geological and mining data. Strikes and dips derived from
geological plans and sections are considered and applied accordingly.

Resources are reported at a series of cut-off grades, i.e. 0.5%, 0.7%, 1.0% and 2.0%, similarly these cut-offs where
historically found to be representative in modelling and reporting. For the purpose of this document, resources
are reported at 0.7% Cu cut-off.


Mining, Metallurgical Methods and Modifying Factors


Mining of these three resources is considered of interest for of open pit operations. No metallurgical test work
results are available.

Historical mined areas (stopes) shown on historical mine survey plans were excluded from the resource. Reported
tonnes mined:

   •   Flat Mine (Nababeep) – 0.15Mt @ 2.72% Cu ~ 3,841 t Cu;

   •   Jan Coetzee Mine – 1.9Mt @ 1.05% Cu ~ 19,888 t Cu; and

   •   Nababeep Kloof Mine – 0.2Mt @ 1.39% Cu ~ 2,507 t Cu.

Apart from Jan Coetzee Mine where mining concentrated on the northern limb/portion, it is evident that historical
underground mining primarily targeted the high grades.
                                                                                                                   
No historical metallurgical test results are available; however, since 1946, OCC mined and treated 105.6Mt from
27 different mines all with similar and amenable metallurgy. No metallurgical test work has been done by Orion.


Future Activities


Some twin and infill drilling will be required to increase the confidence and upgrade the Inferred Resources. A
scoping study assessment is currently underway which will determine potential viability for mining of the OCP
Resources.

For and on behalf of the Board.

Errol Smart
Managing Director and CEO

29 March 2021


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@merchantec.co.za


Competent Persons Statement

The information in this report that relates to Orion’s Exploration Results and Mineral Resource at the Okiep Copper 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 Dr Deon Vermaakt. Dr Vermaakt (Pri.
Sci. Nat.) is registered with the South African Council for Natural Scientific Professionals (Registration No. 400020/00), a ROPO
for JORC purposes. Dr Vermaakt 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. Dr Vermaakt 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).
                                                                                                                                    
Appendix 1: Maps and Figures


Figure 2: Flat Mine (Nababeep) plan view (Red mineralised bodies at 0.5% Cu) Light blue wireframes represent known underground workings.

                                                                                                                                                         
Figure 3: Flat Mine (Nababeep) longitudinal block model (looking West) Light blue wireframes represent underground mined areas.

                                                                                                                                                                                                                                   ¯
Figure 4: Jan Coetzee Mine plan view (Red wireframes of mineralised bodies above 0.5% Cu cut-off).

                                                                                                         
Figure 5: Jan Coetzee Mine 3D cross section (looking west).

                                                              
Figure 6: Nababeep Kloof Mine block model, plan view.

                                                      
Figure 7: Nababeep Kloof Mine 3D cross section block model (looking east).

                                                                             12
Appendix 2: The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Mineral Resources for
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              Drilling and sampling was undertaken during three distinct periods since the
                             specific specialised industry standard measurement tools appropriate             initial discovery of mineralisation:
                             to the minerals under investigation, such as down hole gamma sondes,             •   Prior to 1984 by O’Okiep Copper Company (OCC).
                             or handheld XRF instruments, etc.). These examples should not be                 •   1984 – 1999 by Goldfields of South Africa (GFSA).
                             taken as limiting the broad meaning of sampling.
                         •   Include reference to measures taken to ensure sample representivity              •   and in 2018 by South Africa Tantalum Mining (SAFTA).
                             and the appropriate calibration of any measurement tools or systems              OCC and GFSA:
                             used.                                                                            •   For diamond drilling carried out by OCC between 1953 and 1978,
                         •   Aspects of the determination of mineralisation that are Material to the              there is limited information available on sampling techniques for
                             Public Report.                                                                       core. With exploration and resource management being carried out
                         •   In cases where ‘industry standard’ work has been done this would be                  under the supervision of OCC, it is considered by the Competent
                             relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1           Person that there would be procedures in place to the industry best
                             m samples from which 3 kg was pulverised to produce a 30 g charge                    practice standard at that time. This is based on discussions with
                             for fire assay’). In other cases more explanation may be required, such              personnel employed by OCC.
                             as where there is coarse gold that has inherent sampling problems.
                             Unusual commodities or mineralisation types (e.g. submarine nodules)             •   The exploration and resource management were under the
                             may warrant disclosure of detailed information.                                      supervision of the OCC geology department, recognised as one of
                                                                                                                  the best exploration departments in South Africa at the time. OCC
                                                                                                                  was successful in defining resources which were used as the basis of
                                                                                                                  successful mine development for 33 different mines over an
                                                                                                                  operation over a 45-year period.
                                                                                                              •   GFSA is a reputable South African Mining house and owned gold,
                                                                                                                  base metal and platinum mines at the time.
                                                                                                              •   Drilling of exploration holes was carried out on a 60m by 30m line
                                                                                                                  spacing.
                                                                                                              •   Drill samples from OCC and GFSA drilling were all sent to OCC on-
                                                                                                                  mine laboratory in Nababeep.
                                                                                                              •   Samples were taken over two metre intervals adjusted to
                                                                                                                  accommodate geological contacts.           OCC whole core was
                                                                                                                  submitted to the lab (AX core size). A 10cm representative core was
                                                                                                                  archived for each sample.
                                                                                                              •   GFSA drilled BQ size core. Core was cut with a core cutter at the
                                                                                                                  core yard and half core submitted over the entire sample interval.
                                                                                                              •   For both companies, samples were numbered and bagged at the
                                                                                                                  core yard before being submitted to the laboratory.
                                                                                                              •   No formal QA/QC samples were inserted at the time by the
                                                                                                                  geologists on the exploration site. OCC laboratory developed their
                                                                                                                  own standards, and those were used internally in the laboratory. No
                                                                                                                  record exists on the preparation method of the standards. Duplicate
                                                                                                                  samples were also inserted to check for repeatability. No records
                                                                                                                  exist on the percentage duplicate or standard.
                                                                                                              •   No historical Standard Operating Procedures are available.

Drilling techniques     •   Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air          OCC:
                            blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple        •   All intersections were by core drilling.
                            or standard tube, depth of diamond tails, face-sampling bit or other              •   AX-size core was drilled.
                            type, whether core is oriented and if so, by what method, etc.).                  •   Core orientation was not done.
                                                                                                              GFSA:
                                                                                                              •   All intersections were by core drilling.
                                                                                                              •   BQ core size was drilled.
                                                                                                              •   No core orientation was carried out.

Drill sample recovery   •   Method of recording and assessing core and chip sample recoveries                 OCC:
                            and results assessed.                                                             •   All mineralised intersections were done with core drilling.
                        •   Measures taken to maximise sample recovery and ensure                             •   Core stick-ups reflecting the depth of the drill hole are recorded at
                            representative nature of the samples.                                                 the rig at the end of each core run.
                        •   Whether a relationship exists between sample recovery and grade
                            and whether sample bias may have occurred due to preferential                     •   A block with the depth of the hole written on it is placed in the core
                            loss/gain of fine/coarse material.                                                    box at the end of each run.
                                                                                                              •   Core recoveries were measured for each "run".
                                                                                                              •   No records exist for core recoveries on individual samples.
                                                                                                              •   Intersections were in hard rock and good recoveries are envisaged
                                                                                                                  through the mineralisation.
                                                                                                              GFSA:
                                                                                                              •   All mineralised intersections are done with core drilling.
                                                                                                              •   Core stick-ups reflecting the depth of the drill hole are recorded at
                                                                                                                  the rig 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 lost.
                                                                                                              •   Core recoveries were done for individual samples.
                                                                                                              •   Intersections were in hard rock and good recoveries are envisaged
                                                                                                                  through the mineralisation.

Logging                 •   Whether core and chip samples have been geologically and                          OCC and GFSA:
                            geotechnically logged to a level of detail to support appropriate                 •   All relevant intersections for surface holes have been logged by
                            Mineral Resource estimation, mining studies and metallurgical studies.                qualified geologists and all of this information is available.
                        •   Whether logging is qualitative or quantitative in nature. Core (or                •   No geotechnical information is available for the historic drill holes.
                            costean, channel, etc.) photography.
                        •   The total length and percentage of the relevant intersections logged.             •   Core was not photographed.
                                                                                                              •   Logs were recorded in the core yard on standard log sheets.
                                                                                                              •   Quantitative estimate of sulphide mineralogy.
                                                                                                              •   Core of the entire drill hole length was geologically logged and
                                                                                                                  recorded on standardised log sheets by qualified geologists.
                                                                                                              •   No air drilling was carried out.

Sub-sampling            •   If core, whether cut or sawn and whether quarter, half or all core                OCC:
techniques and              taken.                                                                            •    All sample data is available.
sample preparation      •   If non-core, whether riffled, tube sampled, rotary split, etc. and                •    All drill core were used.
                            whether sampled wet or dry.
                        •   For all sample types, the nature, quality and appropriateness of the              •   The entire sample length was submitted to the laboratory except for
                            sample preparation technique.                                                         a 10cm piece of core left as a reference.
                        •   Quality control procedures adopted for all sub-sampling stages to                 •   Sample preparation was undertaken by the OCC Laboratory.
                            maximise representivity of samples.                                               •   The sampling method was appropriate and representative of the
                        •   Measures taken to ensure that the sampling is representative of the in-                sample interval.
                            situ material collected, including for instance results for field
                            duplicate/second-half sampling.                                                   •   No certified reference materials, blanks and duplicates were
                        •   Whether sample sizes are appropriate to the grain size of the material                inserted, however the OCC Laboratory inserted in house standard
                            being sampled.                                                                        reference material with each batch.
                                                                                                              GFSA:
                                                                                                              •   BQ core was cut a core yard and half core taken as sample.
                                                                                                              •   With core samples, the entire sample length is cut and sampled.
                                                                                                              •   No certified reference materials, blanks and duplicates were
                                                                                                                  inserted, however reportedly the OCC Laboratory inserted in house
                                                                                                                  standard reference material with each batch.

Quality of assay data   •   The nature, quality and appropriateness of the assaying and                       OCC and GFSA:
and laboratory tests        laboratory procedures used and whether the technique is considered                •   No records exist for laboratory procedures for the OCC Laboratory.
                            partial or total.                                                                     Core samples were reported to be crushed, split and assayed for
                        •   For geophysical tools, spectrometers, handheld XRF instruments, etc.,                 copper content by atomic absorption techniques4.
                            the parameters used in determining the analysis including instrument              •   No geophysical tools, spectrometers or handheld XRF instruments
                            make and model, reading times, calibrations factors applied and their                 were used.
                            derivation, etc.                                                                  •   No record is available on quality control methods.
                        •   Nature of quality control procedures adopted (e.g. standards, blanks,
                            duplicates, external laboratory checks) and whether acceptable                    •   The OCC successfully operated copper mines in the district for more
                            levels of accuracy (i.e. lack of bias) and precision have been                        than 50 years and has a proven record of converting resources to
                            established.                                                                          reserves.

Verification of         •   The verification of significant intersections by either independent or           OCC and GFSA:
sampling and                alternative company personnel.                                                   •   No records available on the verification of data.
assaying                •   The use of twinned holes.                                                        •   Exploration was managed by the OCC and GFSA exploration
                        •   Documentation of primary data, data entry procedures, data                           departments, consisting of qualified geologists.
                            verification, data storage (physical and electronic) protocols.                  •   No adjustments to assay data were reported.
                        •   Discuss any adjustment to assay data.                                         

Location of data        •   Accuracy and quality of surveys used to locate drill holes (collar and           OCC and GFSA:
points                      down-hole surveys), trenches, mine workings and other locations used             •   Drill hole collars were surveyed by qualified surveyors and
                            in Mineral Resource estimation.                                                      documented in a Survey Logbook.
                        •   Specification of the grid system used.                                           •   All surface and underground drill hole collars were surveyed by
                        •   Quality and adequacy of topographic control.                                         qualified surveyors using a theodolite.
                                                                                                             •   The historic mine survey data is in the old national LO 17 Cape1880
                                                                                                                 system coordinate system.
                                                                                                             •   Down-hole surveys were carried out using an Eastman survey
                                                                                                                 instrument and documented and filed. Plans and sections were
                                                                                                                 meticulously plotted and signed off by a certified surveyor.

Data spacing and         •   Data spacing for reporting of Exploration Results.                              OCC and GFSA:
distribution             •   Whether the data spacing and distribution is sufficient to establish the        •   Original exploration holes were drilled aiming to achieve a 60m by
                             degree of geological and grade continuity appropriate for the Mineral               30m spacing, considered appropriate for Mineral Resource
                             Resource and Ore Reserve estimation procedure(s) and classifications                estimation of this type of mineralisation.
                             applied.
                         •   Whether sample compositing has been applied.

Orientation of data in   •   Whether the orientation of sampling achieves unbiased sampling of               OCC and GFSA:
relation to geological       possible structures and the extent to which this is known, considering          •   Historical drilling is generally oriented perpendicular, or at a
structure                    the deposit type.                                                                   maximum achievable angle, to the attitude of the mineralisation.
                         •   If the relationship between the drilling orientation and the orientation        •   As a result, most holes intersect the mineralisation at an acceptable
                             of key mineralised structures is considered to have introduced a                    angle.
                             sampling bias, this should be assessed and reported if material.                •   No sampling bias is anticipated as a result of drill hole orientations.                                                                                                                                                                     

Sample security          •   The measures taken to ensure sample security.                                   OCC and GFSA:
                                                                                                             •   No details of sample security available. However, during the mining
                                                                                                                 operations, the site was fenced and gated with security personnel
                                                                                                                 employed as part of the staff.

Audits or reviews        •   The results of any audits or reviews of sampling techniques and data.           OCC and GFSA:
                                                                                                             •   No audits and/or review records or documentation are available.


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                      OCC and GFSA:
land tenure status           agreements or material issues with third parties such as joint ventures,           •   OCC and GFSA held vast areas under prospecting and mining rights,
                             partnerships, overriding royalties, native title interests, historical sites,          most of these have been relinquished.
                             wilderness or national park and environmental settings.                                SAFTA/ORION:
                         •   The security of the tenure held at the time of reporting along with any
                             known impediments to obtaining a licence to operate in the area.                   •   The Flat Mines area comprises 8,311.9ha and is covered by two
                                                                                                                    prospecting rights (licences), figure 1.
                                                                                                                •   NC11893PR expired in October 2020 and NC12014PR expired in
                                                                                                                    January 2021. Renewal applications have been submitted for both
                                                                                                                    licences, confirmed from Department of Mineral Resources and
                                                                                                                    Energy correspondence.
                                                                                                                •   The prospecting rights were issued for copper and tungsten ore only.
                                                                                                                •   An application under Section 102 was made to include additional
                                                                                                                    metals lead, silver, zinc, bismuth, cadmium, cobalt, magnetic
                                                                                                                    minerals, gold and uranium.
                                                                                                                •   An application for a mining right (NC10150MR) has been submitted
                                                                                                                    covering a smaller portion (approximately 1,210 ha) of expired right
                                                                                                                    NC11896PR and FM.
                                                                                                                •   Only one renewal is allowed and is now covered by prospecting
                                                                                                                    right application NC12755 submitted 5 February 2021.

Exploration done by      •   Acknowledgment and appraisal of exploration by other parties.                      OCC and GFSA:
other parties                                                                                                   •   Underground and especially surface geological mapping are of
                                                                                                                    high quality and detail.
                                                                                                                •   Historical data included in this resource estimation were generated
                                                                                                                    by OCC and GFSA.
                                                                                                                •   Later limited follow-up exploration was completed by Metorex
                                                                                                                •   It is evident that the historical data was collected via industry best
                                                                                                                    practices and are considered suitable and acceptable for
                                                                                                                    resource estimation.

Geology                  •   Deposit type, geological setting and style of mineralisation.                      Okiep Copper Project (OCP):
                                                                                                                •   These Cu deposits are part of the well-known Namaqualand
                                                                                                                    Metamorphic Complex which consists primarily of meta-volcanic
                                                                                                                    sedimentary and intrusive rock types.
                                                                                                                •   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 anorthosite, diorite and norite
                                                                                                                    intermediate rock types.
                                                                                                                •   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 OCP 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                  OCC and GFSA:
                             exploration results including a tabulation of the following information            •   All historical grade and density information are incorporated in the
                             for all Material drill holes:                                                          ORION database, and due to the large number of intersections
                             o easting and northing of the drill hole collar                                        made it is in the Competent Person view that it should not be
                             o elevation or RL (Reduced Level – elevation above sea level in                        included in this table.
                                  metres) of the drill hole collar                                              •   Historically at least 102 holes were drilled totalling 42,834m on the
                             o dip and azimuth of the hole                                                          three deposits, most are AQ
                             o down hole length and interception depth
                             o hole length.                                                                     •   Numerous underground drill holes were drilled, these still have to be
                         •   If the exclusion of this information is justified on the basis that the                digitally captured, imported into the database and modelling.
                             information is not Material and this exclusion does not detract from the           •   This resource estimate was based on only a portion of the drill hole
                             understanding of the report, the Competent Person should clearly                       database, namely: FM (33 holes, 5,462m), JCM (33 holes, 3,790m)
                             explain why this is the case.                                                          and NKM (70 holes, 3,835m).
                                                                                                                •   All historical drill hole collars were surveyed.
                                                                                                                •   Down-hole surveys are available for the majority of the historical
                                                                                                                    GFSA.

Data aggregation        •   In reporting Exploration Results, weighting averaging techniques,                   OCC and GFSA:
methods                     maximum and/or minimum grade truncations (e.g. cutting of high                      •     Individual intersections were weighted by sample width.
                            grades) and cut-off grades are usually Material and should be stated.               •     Mineralised sample lengths were erratically standardised at 1.0, 1.5
                        •   Where aggregate intercepts incorporate short lengths of high grade                        and 2.0 metres.
                            results and longer lengths of low grade results, the procedure used for
                            such aggregation should be stated and some typical examples of                      •     No truncations were applied.
                            such aggregations should be shown in detail.
                        •   The assumptions used for any reporting of metal equivalent values
                            should be clearly stated.

Relationship between    •   These relationships are particularly important in the reporting of                  OCC and GFSA:
mineralisation widths       Exploration Results.                                                                •     Historical drilling is generally oriented perpendicular, or at a
and intercept lengths   •   If the geometry of the mineralisation with respect to the drill hole angle                maximum achievable angle to, the attitude of the mineralisation.
                            is known, its nature should be reported.                                            •     Generally, drill hole inclinations ranged between -30° to 90°.
                        •   If it is not known and only the down hole lengths are reported, there
                            should be a clear statement to this effect (e.g. ‘down hole length, true
                            width not known’).

Diagrams                •   Appropriate maps and sections (with scales) and tabulations of                      •     Numerous plans and cross-sections are available and were utilised
                            intercepts should be included for any significant discovery being                         during the geological and mineralization modelling.
                            reported. These should include, but not be limited to a plan view of drill          •     All historical data is available as hard copies and is currently being
                            hole collar locations and appropriate sectional views.                                    digitised and incorporated into a GIS system.

Balanced reporting      •   Where comprehensive reporting of all Exploration Results is not                     ORION:
                            practicable, representative reporting of both low and high grades                   •     This resource estimation is based on all available historical data.
                            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              ORION:
exploration data            including (but not limited to): geological observations; geophysical                •     Detailed surface maps and drill sections were extensively consulted
                            survey results; geochemical survey results; bulk samples – size and                       and utilised in the understanding of geology and mineralisation.
                            method of treatment; metallurgical test results; bulk density,                      •     Regional and detailed geophysical maps (magnetic) were also
                            groundwater, geotechnical and rock characteristics; potential                             consulted.
                            deleterious or contaminating substances.                                            •     Historical surface and down-hole geophysical work were executed
                                                                                                                      to industry best practices.
                                                                                                                •     No metallurgical test work was done by Orion, but OCC mined and
                                                                                                                      treated 105.6Mt from 27 different mines all with similar and amenable
                                                                                                                      metallurgy

Further work            1. The nature and scale of planned further work (e.g. tests for lateral                 ORION:
                           extensions or depth extensions or large-scale step-out drilling).                    •     More twinning of historical drill holes is needed in order to improve
                        2. Diagrams clearly highlighting the areas of possible extensions,                            confidence in the historical data.
                           including the main geological interpretations and future drilling areas,             •     Deeper mineralisation as well as en echelon type mineralised lenses
                           provided this information is not commercially sensitive.                                   are potentially present and should be further investigated.
                                                                                                                FM:
                                                                                                                •    Twin drilling in order to verify historical drill holes geology and grades.
                                                                                                                •    In-fill resource delineation drilling to upgrade the resource to at least
                                                                                                                     “Indicated”.
                                                                                                                •    Target drilling to follow-up on the potential strike and dip extension
                                                                                                                     towards the east and west.
                                                                                                                JCM:
                                                                                                                •    Twin drilling in order to verify historical drill holes geology and grades.
                                                                                                                •    In-fill resource delineation drilling to upgrade the resource to at least
                                                                                                                     “Indicated”.
                                                                                                                •    Target drilling to follow-up on the potential strike extension towards
                                                                                                                     the east.
                                                                                                                NKM:
                                                                                                                •    Twin drilling in order to verify historical drill holes geology and grades
                                                                                                                •    In-fill resource delineation drilling to upgrade the resource to at least
                                                                                                                     “Indicated”.



Table 3: Drill hole information used in resource estimations for all prospects.

  Mine/Prospect           Hole ID    Easting         Northing           RL           Hole Length            Dip    Azimuth     Company               Type
Flat Mine (Nababeep)      FM049      75424.77       -3270161.67        755.38          504.749              -90       0         OCC             Surface Diamond
Flat Mine (Nababeep)      FM050      75422.55       -3270230.47        752.65          154.229              -65      360        OCC             Surface Diamond
Flat Mine (Nababeep)      FM051      75519.36       -3270210.61        752.97          169.774              -75      360        OCC             Surface Diamond
Flat Mine (Nababeep)      FM052      75478.14       -3270188.05        754.42          200.254              -90       0         OCC             Surface Diamond
Flat Mine (Nababeep)      FM053      75519.33       -3270210.40        752.97          184.709              -90       0         OCC             Surface Diamond
Flat Mine (Nababeep)      FM054      75519.27       -3270210.16        752.92          153.619              -60      338        OCC             Surface Diamond
Flat Mine (Nababeep)      FM055      75384.03       -3270174.21        753.60           82.601              -90       0         OCC             Surface Diamond
Flat Mine (Nababeep)      FM056      75522.85       -3270225.39        750.98            91.44              -90       0         OCC             Surface Diamond
Flat Mine (Nababeep)      FM057      75384.74       -3270174.54        753.57          119.177              -60      180        OCC             Surface Diamond
Flat Mine (Nababeep)      FM058      75478.65       -3270228.51        752.33          131.064              -70      360        OCC             Surface Diamond

                                                                                                                                                                                    20
   Mine/Prospect       Hole ID   Easting     Northing      RL      Hole Length   Dip   Azimuth   Company        Type
Flat Mine (Nababeep)   FM059     75448.67   -3270220.57   753.14     148.742     -70    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM060     75434.58   -3270216.64   752.88     113.995     -70    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM061     75464.09   -3270224.57   752.52     119.786     -70    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM062     75492.68   -3270232.75   751.51     150.571     -70    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM063     75478.73   -3270228.31   752.34     103.327     -55    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM064     75448.62   -3270220.30   753.13     94.183      -60    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM065     75466.78   -3270160.79   756.11     153.619     -70    180       OCC      Surface Diamond
Flat Mine (Nababeep)   FM066     75522.89   -3270225.57   750.95     73.152      -75    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM067     75524.08   -3270224.86   751.04     129.54      -75    180       OCC      Surface Diamond
Flat Mine (Nababeep)   FM068     75390.30   -3270204.81   753.25     57.607      -75    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM069     75393.06   -3270205.77   753.21     131.978     -80    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM070     75505.15   -3270213.79   752.73      152.4      -75    360       OCC      Surface Diamond
Flat Mine (Nababeep)   FM071     75561.57   -3270227.13   750.76     102.718     -90     0        OCC      Surface Diamond
Flat Mine (Nababeep)   FM072     75525.32   -3270183.84   754.33     123.139     -90     0        OCC      Surface Diamond
Flat Mine (Nababeep)   FM129     75465.33   -3270270.29   750.12     211.836     -65    345       OCC      Surface Diamond
Flat Mine (Nababeep)   FM130     75503.13   -3270165.41   755.49     108.814     -70    162       OCC      Surface Diamond
Flat Mine (Nababeep)   FM136     75428.10   -3270216.09   753.06     550.164     -90     0        OCC      Surface Diamond
Flat Mine (Nababeep)   FM157     75565.11   -3270145.29   754.91      201.2      -50    180       OCC      Surface Diamond
Flat Mine (Nababeep)   FM158     75565.02   -3270144.62   754.99      106        -65    180       OCC      Surface Diamond
Flat Mine (Nababeep)   FM159     75565.01   -3270085.43   757.62      163        -50    180       OCC      Surface Diamond
Flat Mine (Nababeep)   FM160     75570.07   -3270042.33   759.36      252        -45    180       OCC      Surface Diamond
Flat Mine (Nababeep)   FM161     75570.06   -3270041.72   759.46      278.8      -52    180       OCC      Surface Diamond
Flat Mine (Nababeep)   FM162     75595.19   -3270122.90   755.16      144        -50    180       OCC      Surface Diamond
 Jan Coetzee Mine      JCM004    74034.65   -3267518.52   761.38     224.333     -30     44       OCC      Surface Diamond
 Jan Coetzee Mine      JCM059    74125.63   -3267511.27   793.42     182.27      -40     0        OCC      Surface Diamond
 Jan Coetzee Mine      JCM060    74127.15   -3267547.05   778.30     249.022     -40     0        OCC      Surface Diamond
 Jan Coetzee Mine      JCM061    74129.38   -3267598.93   763.09     298.399     -40     0        OCC      Surface Diamond
 Jan Coetzee Mine      JCM119    74187.65   -3267506.12   807.81     146.304     -35     0        OCC      Surface Diamond
 Jan Coetzee Mine      JCM120    74217.78   -3267499.06   817.17     151.79      -35     0        OCC      Surface Diamond

                                                                                                                            
   Mine/Prospect      Hole ID   Easting     Northing      RL      Hole Length   Dip   Azimuth   Company        Type
 Jan Coetzee Mine     JCM121    74187.62   -3267469.37   828.47     121.92      -40     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM122    74218.12   -3267471.03   832.60     103.937     -35     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM123    74187.57   -3267470.17   828.47     81.686      -60     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM124    74217.84   -3267472.07   832.58     50.902      -60     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM125    74187.75   -3267458.75   833.92      53.95      -35     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM126    74217.78   -3267498.17   817.17      60.35      -55     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM128    74157.44   -3267510.42   798.81     149.962     -35     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM129    74156.95   -3267488.90   814.83     128.321     -40     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM131    74157.03   -3267470.35   822.59     133.502     -40     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM132    74141.61   -3267475.10   817.16     97.536      -40     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM133    74141.23   -3267488.86   811.31     126.492     -45     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM134    74141.25   -3267488.86   811.31     163.068     -60     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM135    74248.56   -3267450.21   842.41      91.44      -40     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM136    74248.56   -3267450.82   842.40      76.81      -55     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM137    74247.96   -3267438.82   845.23      76.2       -40     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM138    74157.44   -3267510.42   798.82     219.456     -50     0        OCC      Surface Diamond
 Jan Coetzee Mine     JCM140    74217.96   -3267395.92   859.16     82.601      -60    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM141    74217.96   -3267395.53   859.16     75.286      -80    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM142    74218.01   -3267418.90   856.21      60.96      -70    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM143    74216.89   -3267381.69   858.00     85.344      -80    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM145    74186.56   -3267384.23   844.82     73.457      -60    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM146    74186.29   -3267383.89   844.82     88.392      -45    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM147    74187.97   -3267360.15   838.44     82.296      -50    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM148    74157.32   -3267402.58   837.97     51.816      -40    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM149    74157.32   -3267402.00   837.97     61.874      -55    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM150    74187.97   -3267359.73   838.44     85.039      -60    180       OCC      Surface Diamond
 Jan Coetzee Mine     JCM151    74187.90   -3267408.35   850.87     54.864      -55    180       OCC      Surface Diamond
Nababeep Kloof Mine    NK01     78480.61   -3276248.53   959.40      76.81      -90     0        OCC      Surface Diamond
Nababeep Kloof Mine    NK05     78512.15   -3276247.61   963.89     78.943      -90     0        OCC      Surface Diamond

                                                                                                                           
   Mine/Prospect      Hole ID   Easting     Northing      RL      Hole Length   Dip     Azimuth   Company        Type
Nababeep Kloof Mine    NK07     78540.08   -3276279.95   957.59     99.365      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK08     78541.32   -3276309.70   949.32      60.96      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK09     78570.57   -3276280.70   958.33     59.436      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK10     78510.93   -3276277.72   954.98     104.546     -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK11     78594.68   -3276281.89   963.82     96.926      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK12     78569.69   -3276310.91   951.33     44.806      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK13     78511.67   -3276306.97   947.06     65.837      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK14     78477.85   -3276312.12   942.17     66.446      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK15     78483.20   -3276276.67   952.40     97.536      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK17     78450.75   -3276246.77   958.37     84.125      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK18     78448.44   -3276310.04   941.15     50.597      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK19     78449.22   -3276278.17   947.25      69.19      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK25     78601.46   -3276312.38   958.00     55.474      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK27     78628.80   -3276280.72   973.71     64.618      -90       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK34     78594.55   -3276282.54   963.88     48.768      -54      158       OCC      Surface Diamond
Nababeep Kloof Mine    NK35     78600.03   -3276259.53   970.57     79.248      -67.5    180       OCC      Surface Diamond
Nababeep Kloof Mine    NK36     78600.16   -3276266.43   968.15     110.033     -60      180       OCC      Surface Diamond
Nababeep Kloof Mine    NK37     78603.62   -3276252.28   973.41      83.82      -75      180       OCC      Surface Diamond
Nababeep Kloof Mine    NK40     78615.53   -3276278.45   971.29     48.768      -59      180       OCC      Surface Diamond
Nababeep Kloof Mine    NK41     78614.59   -3276277.90   971.23     48.768      -71.5     0        OCC      Surface Diamond
Nababeep Kloof Mine    NK42     78616.05   -3276317.73   958.41     66.142      -38       0        OCC      Surface Diamond
Nababeep Kloof Mine    NK43     78617.06   -3276319.29   958.10     18.288      -70      180       OCC      Surface Diamond
Nababeep Kloof Mine    NK44     78615.70   -3276294.65   965.41     35.357      -59.5     0        OCC      Surface Diamond
Nababeep Kloof Mine    NK45     78617.18   -3276295.37   965.64     26.822      -56      180       OCC      Surface Diamond
Nababeep Kloof Mine    NK46     78572.76   -3276247.43   971.82     81.077      -59      184       OCC      Surface Diamond
Nababeep Kloof Mine    NK47     78571.30   -3276281.44   958.33     56.388      -75      360       OCC      Surface Diamond
Nababeep Kloof Mine    NK48     78570.68   -3276281.39   958.20     56.693      -65      180       OCC      Surface Diamond
Nababeep Kloof Mine    NK49     78570.73   -3276281.73   958.20     39.014      -50      180       OCC      Surface Diamond
Nababeep Kloof Mine    NK50     78555.26   -3276259.50   964.85     103.632     -48      180       OCC      Surface Diamond

                                                                                                                             
   Mine/Prospect      Hole ID   Easting     Northing      RL      Hole Length   Dip     Azimuth   Company          Type
Nababeep Kloof Mine    NK51     78555.26   -3276259.50   964.85      60.35      -59      180       OCC        Surface Diamond
Nababeep Kloof Mine    NK52     78553.26   -3276304.71   949.47      29.87      -82      180       OCC        Surface Diamond
Nababeep Kloof Mine    NK53     78553.21   -3276305.42   949.39     30.785      -55      180       OCC        Surface Diamond
Nababeep Kloof Mine    NK54     78552.43   -3276303.63   949.52     49.682      -40      360       OCC        Surface Diamond
Nababeep Kloof Mine    NK58     78464.60   -3276236.68   962.87     107.29      -85      180       OCC        Surface Diamond
Nababeep Kloof Mine    NK59     78464.02   -3276293.91   946.08     78.334      -46.5    180       OCC        Surface Diamond
Nababeep Kloof Mine    NK61     78585.88   -3276296.29   957.98     38.405      -35      360       OCC        Surface Diamond
Nababeep Kloof Mine    NK62     78585.88   -3276296.29   957.98     59.741      -60       0        OCC        Surface Diamond
Nababeep Kloof Mine    NK63     78585.88   -3276296.29   957.98     33.528      -90       0        OCC        Surface Diamond
Nababeep Kloof Mine    NK64     78585.88   -3276296.29   957.98      53.95      -51.5     0        OCC        Surface Diamond
Nababeep Kloof Mine    NK65     78585.88   -3276296.29   957.98     76.505      -72.5     0        OCC        Surface Diamond
Nababeep Kloof Mine    NK66     78585.88   -3276296.29   957.98     32.918      -67.5    180       OCC        Surface Diamond
Nababeep Kloof Mine    NK67     78585.88   -3276296.29   957.98     33.528      -40      180       OCC        Surface Diamond
Nababeep Kloof Mine   NKU01     78555.40   -3276278.91   884.40      45.11       65       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU02     78555.40   -3276280.13   884.40     39.014       90       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU03     78555.40   -3276281.05   884.40      45.72       65      180       OCC      Underground Diamond
Nababeep Kloof Mine   NKU04     78464.66   -3276266.18   882.72     20.726       0        0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU05     78464.66   -3276266.18   883.72     36.271       35       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU06     78464.66   -3276267.50   881.70      9.144      -60       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU07     78464.66   -3276267.50   884.72     51.816       55       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU08     78464.66   -3276267.50   884.72     29.566       90       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU09     78464.66   -3276267.50   884.72     37.795       50       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU10     78495.14   -3276276.00   884.72     62.789       50       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU11     78555.40   -3276281.96   884.40     28.042       45      180       OCC      Underground Diamond
Nababeep Kloof Mine   NKU12     78495.14   -3276276.00   884.72      46.33       90       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU13     78495.14   -3276275.00   884.72     64.008       50      180       OCC      Underground Diamond
Nababeep Kloof Mine   NKU14     78525.62   -3276276.60   884.72     49.378       70       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU15     78525.62   -3276276.60   884.72     43.891       90       0        OCC      Underground Diamond
Nababeep Kloof Mine   NKU16     78525.62   -3276276.60   884.72     54.559       70      180       OCC      Underground Diamond

                                                                                                                                 
   Mine/Prospect               Hole ID      Easting         Northing           RL         Hole Length        Dip     Azimuth     Company         Type
Nababeep Kloof Mine            NKU17       78525.62       -3276280.30        884.64          68.275           50        180         OCC          Underground Diamond
Nababeep Kloof Mine            NKU18       78495.14       -3276275.00        884.72          45.72            70        180         OCC          Underground Diamond
Nababeep Kloof Mine            NKU19       78510.38       -3276270.10        884.72          38.71            90         0          OCC          Underground Diamond
Nababeep Kloof Mine            NKU20       78510.38       -3276270.10        884.72          34.747           60         0          OCC          Underground Diamond
Nababeep Kloof Mine            NKU21       78510.38       -3276270.10        884.72          51.816           55        180         OCC          Underground Diamond
Nababeep Kloof Mine            NKU22       78449.42       -3276271.52        884.35          43.282           55         0          OCC          Underground Diamond
Nababeep Kloof Mine            NKU23       78449.42       -3276272.52        884.35          39.624           90         0          OCC          Underground Diamond
Nababeep Kloof Mine            NKU24       78510.38       -3276297.64        910.86          23.774           60        180         OCC          Underground Diamond
Nababeep Kloof Mine            NKU25       78525.62       -3276299.47        910.86          30.48            50        180         OCC          Underground Diamond
Nababeep Kloof Mine            NKU26       78540.87       -3276299.47        910.86          31.09            60        180         OCC          Underground Diamond

Collars were surveyed by total station theodolite. All drill holes were surveyed with down-hole instruments. Collar coordinates are in LO17 Cape survey system.


Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in Section 1 and where relevant in Section 2. also apply to this section.)

Criteria                       JORC Code explanation                                             Commentary

Database integrity             •   Measures taken to ensure that data has not                    ORION:
                                   been corrupted by, for example, transcription or              •   Historical data has been digitally captured from hand-written documents, plans and
                                   keying errors, between its initial collection and its             sections.
                                   use for Mineral Resource estimation purposes.                 •   All data is presented in excel spread sheet format.
                               •   Data validation procedures used.                              •   Where possible integrity checks by the CP have found the database to be an accurate
                                                                                                     representation of the original data.
                                                                                                 •   Data checking and corrections were also made, i.e. checking for overlaps, gaps, collar
                                                                                                     positions and erroneous surveys.
                                                                                                 •   All drill hole and spatial data will be imported into an Access database format which
                                                                                                     will allow easier and automated checks and verification.

Site visits                    •   Comment on any site visits undertaken by the                  ORION:
                                   Competent Person and the outcome of those                     •   Numerous site visits were undertaken by the competent person.
                                   visits.
                               •   If no site visits have been undertaken indicate
                                   why this is the case.
Geological                     •   Confidence in (or conversely, the uncertainty of)             ORION:
interpretation                     the geological interpretation of the mineral                  •   Geological interpretation was done based on drill hole sections.
                                   deposit.                                                      •   Mineralisation is found to occur predominantly in most of the intermediate rock types
                               •   Nature of the data used and of any assumptions                    also crossing lithological boundaries.
                                   made.                                                         •   Mineralisation generally does not extent into the granitic and gneiss host rocks and the
                               •   The effect, if any, of alternative interpretations on             contact is usually sharp.
                                   Mineral Resource estimation. The use of geology               •   Due to the complex nature of these intrusive lithologies and different phases, ore
                                   in guiding and controlling Mineral Resource                       envelopes based on grade were constructed.
                                   estimation.
                               •   The factors affecting continuity both of grade                •   Grade envelopes were constructed for FM, JCM and NKM using a minimum sample
                                   and geology.                                                      length weighted cut-off grade of 0.5% Cu.
                                                                                                 •   The intermediate mineralised rocks are structurally controlled and pinching and swelling
                                                                                                     is a common feature, in both strike and dip.

Dimensions                    •   The extent and variability of the Mineral Resource             FM:
                                  expressed as length (along strike or otherwise),               •   The mineralisation occurs as one relatively continuous east-west striking body.
                                  plan width, and depth below surface to the                     •   The known mineralised portion is at least 200m long, strikes east – west and steeply dips
                                  upper and lower limits of the Mineral Resource.
                                                                                                     towards the north, figures 2 and 3.
                                                                                                 •   The FM resource occurs at surface to sub-surface and was historically mined at depth.
                                                                                               
                                                                                                 JCM:
                                                                                                 •   Mineralisation also has a general east-west strike and length of approximately 230m.
                                                                                                 •   Mineralisation occurs as numerous steeply dipping lenses (dykes), figure 4.
                                                                                                 •   A gap exists between the “main” modelled mineralisation and a body located to the
                                                                                                     west.
                                                                                                 NKM:
                                                                                                 •   The NKM generally strikes east-west, and outcrops on surface.
                                                                                                 •   It has no discernible dip and has generally a “rod” geometry, figure 7.
                                                                                                 •   The mineralised body strikes at least 120m – 150m.
Estimation and          •   The nature and appropriateness of the estimation                     OCC and GFSA:
modelling techniques        technique(s) applied and key assumptions,                            •   No official resource estimates were done prior to 2017.
                            including treatment of extreme grade values,
                                                                                                 •   A non-compliant estimate based on available historical drilling was done in 2017/2018
                            domaining, interpolation parameters, and                                 by OCC.
                                                                                                     
                            maximum distance of extrapolation from data
                            points. If a computer assisted estimation method                     •   FM, JCM & NKM were all modelled and estimated using 5m x 5m x 5m blocks.
                            was chosen include a description of computer                         •   Inverse Distance Squared was applied.
                            software and parameters used.                                        •   No capping of results was applied.
                        •   The availability of check estimates, previous
                            estimates and/or mine production records and                         •   OCC Resources reported at 0.50% Cu (FM, JCM).
                            whether the Mineral Resource estimate takes                                   Prospect                   Tonnes             Mean %Cu
                            appropriate account of such data.                                             Flat Mine (Nababeep)       1,508,504          1.19


                       •   The assumptions made regarding recovery of by-                               Jan Coetzee Mine        1,006,217          1.12
                           products.                                                                 Nababeep Kloof Mine        1,117,713          0.93
                       •   Estimation of deleterious elements or other non- 
                           grade variables of economic significance (e.g.                        •     Modelling and cut-offs are different to ORION’s but still comparable.
                           sulfur for acid mine drainage characterisation).                      ORION:
                       •   In the case of block model interpolation, the                         •     Only Cu was modelled and estimated, no other buy-products or deleterious elements
                           block size in relation to the average sample                                (such as sulphur) were estimated.
                           spacing and the search employed.
                                                                                                 •     No selective mining units were modelled.
                       •   Any assumptions behind modelling of selective
                           mining units.                                                         •     No data cuts were applied.
                       •   Any assumptions about correlation between                             •     Geological knowledge and data from surface plans, geological sections and historical
                           variables.                                                                  underground workings were used during grade shell modelling.
                       •   Description of how the geological interpretation                      Flat Mine (Nababeep):
                           was used to control the resource estimates.
                       •   Discussion of basis for using or not using grade                      •     Flat Mine (Nababeep) was discretised using blocks of 5m x 5m x 2.5m.
                           cutting or capping.                                                   •     Inverse Distance Squared was used to interpolate Cu values into a three-dimensional
                       •   The process of validation, the checking process                             block model.
                           used, the comparison of model data to drill hole                      •     A total of 200,772 blocks were estimated.
                           data, and use of reconciliation data if available.
                                                                                                 •     Sub-celling was applied with rotation of blocks (004°/85°).
                                                                                                 •     An omni-directional search ellipsoid was applied with radii 50m.
                                                                                                 •     No top cut was applied to the 1m composites.

                                                                                                 Jan Coetzee Mine:
                                                                                                 •     A block model was created by discretizing the geological model by 5m x 5m x 2.5m.
                                                                                                 •     Inverse Distance Squared estimation was applied.
                                                                                                 •     Sub-celling was applied with no rotation of blocks.
                                                                                                 •     A total of 613,360 blocks were estimated.
                                                                                                 •     No top cut was applied to the 1m composites.

                                                                                                 Nababeep Kloof Mine:
                                                                                                 •     The geological model was discretised using 5m x 5m x 2.5m.
                                                                                                 •     Inverse Distance Squared was selected for final estimation.
                                                                                                 •     An omni-directional search ellipsoid was applied with radii 50m.
                                                                                                 •     No sub-celling and no rotation of blocks.
                                                                                                 •     Sub-celling was applied with no rotation of blocks.
                                                                                                 •     A total of 205,020 blocks were used.
                                                                                                 •     No capping was applied.


Moisture                    •    Whether the tonnages are estimated on a dry                     ORION:
                                 basis or with natural moisture, and the method of               •     No moisture content was calculated, and the core was naturally dried when logged
                                 determination of the moisture content.                                and sampled. The estimated tonnages are therefore based on a natural basis.
Cut-off parameters          •    The basis of the adopted cut-off grade(s) or                    ORION:
                                 quality parameters applied.                                     •     Based on historic experience and allowing better modelling, a grade envelope at a
                                                                                                       cut-off of 0.5 %Cu was used.
                                                                                                 •     The mineral resource reported used a base case of 0.7% Cu.
Mining factors or           •    Assumptions made regarding possible mining                      ORION:
assumptions                      methods, minimum mining dimensions and                          •     All tonnages reported are dry.
                                 internal (or, if applicable, external) mining
                                                                                                 •     All three prospects (FM, JCM and NKM) were to a certain extent mined underground.
                                 dilution. It is always necessary as part of the
                                 process of determining reasonable prospects for                 •     The proposed mining method will be open pit.
                                 eventual economic extraction to consider                        •     The resource (FM, JCM & NBK) reported was depleted in portions by the historical mined
                                 potential mining methods, but the assumptions                         areas.
                                 made regarding mining methods and                               •     Generally, the higher grades were mined underground.
                                 parameters when estimating Mineral Resources
                                 may not always be rigorous. Where this is the
                                 case, this should be reported with an explanation
                                 of the basis of the mining assumptions made.
Metallurgical factors       •    The basis for assumptions or predictions regarding              ORION:
or assumptions                   metallurgical amenability. It is always necessary               •     No metallurgical test results are available.
                                 as part of the process of determining reasonable
                                                                                                 •     No metallurgical test work has so far been done.
                                 prospects for eventual economic extraction to
                                 consider potential metallurgical methods, but the
                                 assumptions regarding metallurgical treatment
                                 processes and parameters made when reporting
                                 Mineral Resources may not always be rigorous.
                                 Where this is the case, this should be reported
                                 with an explanation of the basis of the
                                 metallurgical assumptions made.
Environmental factors       •    Assumptions made regarding possible waste and                   ORION:
or assumptions                   process residue disposal options. It is always                  •     The mining site (deposits) is located within a relatively non-ecologically sensitive
                                 necessary as part of the process of determining                       location.
                                 reasonable prospects for eventual economic
                                                                                                 •     A number of potential sites were investigated for waste rock and tailings as part of the
                                 extraction to consider the potential                                  minimization of the operational footprint
                                                                                               
                                 environmental impacts of the mining and
                                 processing operation. While at this stage the                   •     Mining operations will be open pit.
                                 determination of potential environmental                        •     Already spoilt areas will be used for siting of new infra-structure.
                                 impacts, particularly for a greenfields project,                •     Existing access roads will be used during the operations.
                                 may not always be well advanced, the status of


                                early consideration of these potential                           •   Finer material will be pumped to the Tailings Storage Facility (TSF) to be established on
                                environmental impacts should be reported.                            existing old evaporation pans close by.
                                Where these aspects have not been considered
                                this should be reported with an explanation of
                                the environmental assumptions made.
Bulk density                •   Whether assumed or determined. If assumed,                       ORION:
                                the basis for the assumptions. If determined, the                •   Limited Bulk Density (B.D.) data is available for historical drill core.
                                method used, whether wet or dry, the frequency
                                of the measurements, the nature, size and                        •   The B.D. data was acquired using the Archimedes method by weighing drill core in air
                               
                                                                                                     and water, a practical method considered appropriate for this competent rock types.
                               representativeness of the samples.
                           •   The bulk density for bulk material must have been                 •   The average B.D.’s used for all three deposits is 2.75 (mineralised intermediate-mafic
                               measured by methods that adequately account                           rocks) which seem to be a good representative average of the mineralised rock types
                               for void spaces (vugs, porosity, etc), moisture and                   within the area.
                               differences between rock and alteration zones
                               within the deposit.
                           •   Discuss assumptions for bulk density estimates used
                               in the evaluation process of the different materials.
Classification             •   The basis for the classification of the Mineral                   ORION:
                               Resources into varying confidence categories.                     •   Resource classification incorporated the confidence in the quality of the drill hole data,
                           •   Whether appropriate account has been taken of                         data distribution, geological and grade continuity and consideration of reasonable
                               all relevant factors, i.e. relative confidence in                     expectation for eventual economic extraction.
                               tonnage/grade estimations, reliability of input
                                                                                                Flat Mine (Nababeep)
                               data, confidence in continuity of geology and
                               metal values, quality, quantity and distribution of              •   Inferred resource reported at base cut-off grade of 0.7% Cu.
                               the data.                                                        •   Previously mined mineralisation (ore) was deducted from the mineral resource estimate.
                           •   Whether the result appropriately reflects the
                                                                                                     Category             Tonnes             Mean % Cu
                               Competent Person(s)’ view of the deposit.
                                                                                                     Inferred             1,024,000          1.4
                                                                                               Jan Coetzee Mine
                                                                                           •   Inferred resource reported at base cut-off grade of 0.7% Cu.
                                                                                           •   Previously mined mineralisation (ore) was deducted from the mineral resource estimate.
                                                                                               Category             Tonnes           Mean % Cu
                                                                                               Inferred           1,014,000             1.4
                                                                                           Nababeep Kloof Mine
                                                                                           •   Inferred resource reported at base cut-off grade of 0.7% Cu.
                                                                                           •   Previously mined mineralisation (ore) was deducted from the mineral resource estimate.
                                                                                               Category             Tonnes           Mean % Cu
                                                                                               Inferred            527,00               1.2

Audits or reviews         •   The results of any audits or reviews of Mineral             ORION:
                              Resource estimates.                                         •     Mineral resource estimate has not yet been externally audited.
Discussion of relative    •   Where appropriate a statement of the relative               ORION:
accuracy/confidence           accuracy and confidence level in the Mineral                •     The geological and mineralisation model, geological and grade continuity has been
                              Resource estimate using an approach or                            demonstrated to an acceptable confidence level in order to support the mineral
                              procedure deemed appropriate by the                               categories classification.
                              Competent Person. For example, the application
                                                                                          •     Successful historical mining also increases confidence in used drill data.
                              of statistical or geostatistical procedures to
                              quantify the relative accuracy of the resource              •     Reported mine production figures (1990) as follows:
                              within stated confidence limits, or, if such an                   o   Flat Mine (Nababeep) – 0.15Mt @ 2.72% Cu ~ 3,841t Cu;
                              approach is not deemed appropriate, a                             o   Jan Coetzee Mine – 1.9Mt @ 1.05% Cu ~ 19,888t Cu; and
                              qualitative discussion of the factors that could
                              affect the relative accuracy and confidence of                    o   Nababeep Kloof Mine – 0.2Mt @ 1.39% Cu ~ 2,507t Cu.
                              the estimate.
                          •   The statement should specify whether it relates to
                              global or local estimates, and, if local, state the
                              relevant tonnages, which should be relevant to
                              technical and economic evaluation.
                              Documentation should include assumptions
                              made and the procedures used.
                          •   These statements of relative accuracy and
                              confidence of the estimate should be compared
                              with production data, where available.




                                                                                                                                                                         

Date: 29-03-2021 09:09:00
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