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April 6, 2018

Orion gets two prospecting rights for Prieska strike extension

Orion Minerals subsidiaries Vardocube and Bartotrax have secured prospecting rights for strike extensions at important contiguous areas around the Prieska zinc-copper deposit located in the Northern Cape province of South Africa.

Orion Minerals subsidiaries Vardocube and Bartotrax have secured prospecting rights for strike extensions at important contiguous areas around the Prieska zinc-copper deposit in the Northern Cape province of South Africa.

Granted by the Department of Mineral Resources, the rights involve two volcanogenic massive sulphide (VMS) zinc/copper mineralisation occurrences subjected to extensive prior drilling by Anglovaal Group that previously owned the mine.

The rights to Vardocube feature a 30% increase and allow access to the strike of the main massive Prieska Zinc-Copper sulphide detected by Orion through earlier surface and underground drilling.

“The new prospecting rights cover extensions to the Prieska deposit, which is already accessed by primary mine development.”

These rights include a 6,085ha area, along with a geological strike extension to the main deposit of the Prieska Deep Sulphide.

The prospecting rights also cover the Annex zinc-copper VMS discovery that is a satellite occurrence to Prieska and considered as a high-priority exploration target.

Orion Minerals managing director and CEO Errol Smart said: “Importantly, the new prospecting rights cover extensions to the Prieska deposit, which is already accessed by primary mine development.

“We are confident that the Vardocube extension will be included in the mining plan being developed as part of the Bankable Feasibility Study, which is on track for completion in Q4 2018.”

Anglovaal discovered the Annex satellite VMS body in 1980 by using electromagnetic (EM) surveys, and Orion is currently working on the extensive Annex data to evaluate the available information’s quality.

Orion is planning to begin ground EM, infill and verification drilling next month on this near-surface target, and drill rigs are already available on-site.

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