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Orion secures advanced nickel-copper project in S Africa’s Northern Cape

14th July 2016

By: Samantha Herbst

Creamer Media Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – ASX-listed Orion Gold has secured an exclusive right to earn up to an 80% interest in the Jacomynspan nickel-copper-platinum group elements (PGE) project, located in South Africa’s Northern Cape province, through a 74% Orion-owned South African subsidiary company.

Orion noted on Thursday that it had entered into a binding term sheet to acquire the earn-in rights to the prospecting and mining right applications, spanning 626 km2 in the Areachap belt, near the company’s existing PC zinc-copper and Kantienpan projects.

The company advised that it could earn its equity interest in stages by ultimately completing a feasibility study.

Orion had acquired the earn-in rights from Namaqua Nickel Mining and Disawell, which held partly overlapping prospecting rights and mining rights applications.

The Namaqua mining right application covered an advanced nickel-copper-PGE deposit with a completed mining concept study, while the Disawell prospecting rights focused on zinc-copper volcanogenic hosted massive sulphide deposits, such as those at Orion’s nearby projects.

Orion noted that the Jacomynspan project represented a strategic and valuable potential addition to its growing mineral portfolio.

Edited by Creamer Media Reporter

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