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.