Targeting Near-Mine VMS In South Africa
Orion Minerals Limited (ASX: ORN) has reported highly encouraging results from high-impact exploration drilling programmes targeting near-mine and regional volcanogenic massive sulphide (VMS) copper-zinc and nickel-copper targets around its flagship Prieska Copper-Zinc Project in South Africa’s Northern Cape.
Drilling was undertaken during the December 2020 Quarter on the Prieska Copper-Zinc Mine (PCZM), Namaqua- Disawell and Masiqhame prospecting rights, including the K3 and K6 prospects at the Kielder Project within the Dooniespan Prospecting Right, the Jacomynspan and Area 4 prospects within the Namaqua-Disawell Prospecting Right, the B4 anomaly on the Boksputs Prospect and at the Kantienpan Prospect on the Masiqhame Prospecting Right.
Base metal sulphides were intersected at all five prospects drilled, with the drilling program delivering highly encouraging early results despite being impacted by restrictions associated with the COVID-19 pandemic, a reduction in field staff, slower sampling and assay turnaround and the lack of availability of down-hole geophysical instruments that are currently stranded in Australia due to logistical challenges.
Managing Director and CEO, Errol Smart, said that despite these temporary challenges, Orion intends to substantially expand its exploration activities within the Areachap Province in the coming weeks given the very promising results generated so far and the potential to unlock major new growth opportunities for the company.
“We could not have asked for a better start to 2021. Against the backdrop of soaring base metal prices and a fantastic outlook for copper, zinc and nickel amidst a stimulus-fuelled global economic recovery, we have been able to deliver some very exciting exploration news from the pre-Christmas drilling across our extensive Areachap tenement holdings in the Northern Cape,” Mr Smart said.
“The strategic significance of all these targets is that they form part of a world-class exploration package that is underpinned by our fully-permitted Prieska Copper-Zinc Project – which remains one of the few advanced base metal assets worldwide ready to move into construction this year. Some of the targets are ‘near-mine’ opportunities that could quickly develop into satellite ore sources for the Prieska mill. Others sit further afield and have demonstrated strong geological potential to emerge as potential major new VMS discoveries of a similar size to Prieska, or perhaps even bigger.
“The project that has really caught our attention is Boksputs, which fits the latter category. It was originally drilled by Anglo American back in 1973 and yielded some promising copper intercepts, despite patchy information being available. We know that it sits within a large syncline, has outcropping mineralisation, historical intercepts and EM anomalies over a massive area of 3km by 1km, and exhibits all the lithologies and characteristics of a very large VMS system.
“Our first diamond drill hole, targeting a 400 Siemens EM conductor at one end of the syncline, has intersected multiple zones of copper-bearing sulphide mineralisation associated with chloritization and magnetite. The hole is still in progress, but the evidence we are seeing from the drill core is that we are in a very big VMS system – which really excites us.
“Based on the encouraging results so far, we intend to substantially accelerate exploration at Boksputs, including a further deep diamond drill hole to test a strong 3000S EM conductor 3km to the north at the other end of the syncline, along with surface EM and RC drilling across the entire strike length of the structure.
“Elsewhere, drilling at the Kielder Project, located just 15km from Prieska, intersected shallow high-grade base metal mineralisation, validating historical results and elevating this as a priority near-mine opportunity. Meanwhile at Jacomynspan, 68km to the north-west, we have intersected multiple zones of shallow higher-grade Ni-Cu-Co- PGE-Au mineralisation that may have importance for open pit mining potential and secured samples for metallurgical test work. This is another promising growth opportunity for the Company.
“We expect the next six months to be a transformational period for Orion as we step-up exploration and secure the financing to start construction at Prieska. This is a project whose time has well and truly come, and we are excited about the opportunity to finally bring it to fruition, for the benefit of our shareholders and the communities in the Northern Cape region.
“We see this district being a long-term source of high-quality base metal concentrates that will help to support the ‘new era’ of global economic growth which is widely expected to unfold this decade.”
