Orion CEO and MD Errol Smart
ASX- and JSE-listed Orion Minerals has identified numerous compelling targets for both volcanic massive sulphide- (VMS-) style zinc/copper mineralisation and nickel/copper sulphide mineralisation within a 15 km radius of the world-class Prieska deposit, in South Africa’s Northern Cape.
The company had done a 148 km2 airborne electromagnetic survey over the area, which includes the Repli, Vardocube and Bartotrax prospecting rights, and identified multiple discrete anomalies in the dataset, which represent compelling follow-up drilling targets.
“These are significant results as they show we are well and truly on track to unlock the broader potential of the Prieska project.
“VMS deposits generally occur in clusters in close proximity to one large or giant deposit and often comprise two or three medium-sized deposits and five or six smaller deposits,” Orion MD and CEO Errol Smart said in a statement issued on Monday.
He added that Orion has an impressive pipeline of near-mine exploration opportunity, which it intends to pursue in parallel with its development strategy for the Prieska project.
Meanwhile, the company has a bankable feasibility study under way at Prieska, based on a mineral resource of 30.5-million tonnes, grading 3.7% zinc and 1.2% copper.
The recognition of additional geophysical targets associated with known nickel/copper sulphide mineralisation in close proximity to the proposed Prieska mine operations, is also encouraging and supports Orion’s modelling of the Areachap Belt as a close analogue to the Fraser Range Belt, in Western Australia – with the potential for multiple base metal deposits.