Orion Minerals Limited (ASX/JSE: ORN) has reported a maiden Mineral Resource estimate for three deposits that form part of the Okiep Copper Project in South Africa. The company said that its due diligence investigation verified maiden Resource estimate and confirmed outstanding potential for growth, with exciting potential for extensions and high-priority EM targets located below the deposit.
ORN announced that the Mineral Resource comprises 8.9Mt at 1.37% Cu, containing 122,000 tonnes copper; consisting of a Measured Resource of 3,505,000 tonnes at 1.41% Cu, an Indicated Resource of 5,001,000 tonnes at 1.38% Cu, and an Inferred Resource of 401,000 tonnes at 0.84% Cu.
Orion said that the copper mineralisation has excellent potential for both strike and dip extensions, and potential for high-grade blows down-dip, where the intrusive host cuts favourable country rock lithologies.
The company said that high-priority drill targets were identified below the Mineral Resource using the first-ever Drone Time Domain Electromagnetic survey flown over the district, providing an outstanding exploration target.
Maiden JORC mineral resource
The company reported that maiden JORC Mineral Resource, classified and reported in accordance with the JORC Code (2012), was completed for three deposits (the Flat Mines) which form part of the Okiep Copper Complex, subject to the recently announced option agreement.
ORN said that the Mineral Resource is located on the South African Tantalum Mining (Pty) Ltd’s Mining Right Application, over which Orion recently secured an option to acquire a 56.25% interest.
Parameters for estimation
The company said that a total of 235 surface and 17 underground drill-holes totalling 43,413m of drilling at FMN, 80 surface holes (32,750m) at FMS, and 151 surface holes (51,414m) at FME were captured in the drilling database and were used to model the maiden Mineral Resource.
ORN said that historical diamond AX or BQ whole core were used for analysis of grades and all historical collars were surveyed using a total station theodolite by a qualified surveyor.
Mineral resource contained in three deposits
Orion said that the Mineral Resource was contained in three deposits referred to as Flat Mine North (FMN), Flat Mine East (FME), and Flat Mine South (FMS). The company said that the Mineral Resource comprises 8.9Mt at 1.37% Cu, containing 122,000 tonnes copper; consisting of a Measured Resource of 3,505,000 tonnes at 1.41% Cu, an Indicated Resource of 5,001,000 tonnes at 1.38% Cu, and an Inferred Resource of 401,000 tonnes at 0.84% Cu.
The company reported that the Mineral Resource was verified by Orion’s due diligence investigations.
Next steps
The company noted that there is excellent potential to define additional resources along strike and down-dip and strong potential for additional sulphide deposits within SAFTA’s prospecting and mining rights.
ORN said that a Drone Time Domain Electromagnetic (Drone TDEM) survey carried out in 2018 had identified high priority drill targets along strike and below the current resource at Flat Mine North. The company said that its exploration team is evaluating and prioritising such drill targets for follow up drill programs.
Orion said that at FMN, closely spaced drilling is required to bridge the gap at the northern end of the southern portion while at FME, delineation drilling of higher-grade lenses down plunge and up dip is required in addition to in-fill drilling required to establish continuity and delineate potential extensions and indicated resources of higher confidence.
The company said that at FMS, the deeper westerly portions require in-fill drilling as the current drill spacing is too wide. ORn said that upgrading Inferred resources to Indicated also requires additional in-fill drilling.
* Image source: Orion Minerals Limited
