Okiep Copper project continues to deliver

On 9 July 2024, Orion reported further outstanding assay results from the confirmation diamond drilling program in the Flat Mines area at its Okiep Copper Project (OCP) in the Northern Cape, South Africa. The latest results add further momentum to Orion’s development strategy for the OCP.

These results build on the initial results reported on 22 April and 24 June 2024 including an intersection of 49.35m @ 5.05% Cu at Flat Mine East (FME) among several other high-grade intersections confirming the geology and endowment of the Flat Mines Area.

The reported results include the first two of the four planned holes at Flat Mine South (FMS). The assay results have confirmed historical information from drilling by Newmont and Goldfields of South Africa (Goldfields) in the 1980’s and 1990’s, used in the Mineral Resource update, where 9.4Mt at 1.3% Cu was reported for the Flat Mines including 3.4Mt at 1.4% Cu at FMS.

Key highlights:

• Outstanding assay results received for the first diamond drill holes completed at FMS:
• Drill hole OFMSD077 intersected 20.50m at 4.99% Cu within 43.00m at 3.41% Cu.
• Mineralisation open for 200m down-dip.
• FMS, which is a virgin discovery that is blind to surface, will form a key part of Orion’s early
• production plan for the Okiep Copper Project.
• The intersections achieved to date support geological and grade distribution interpretations that were
• incorporated in Mineral Resource modelling and estimation for the Okiep Copper Project.
• Drilling is continuing to test the down-dip extension of high-grade mineralisation in a previously
• untested area encompassing 300m of strike and 200m down-dip extent.
• Confirmatory drilling has also commenced at Flat Mine (Nababeep), where an Inferred Mineral
• Resource of 1Mt at 1.4% Cu was reported in March 2021.

Orion’s MD and CEO, Errol Smart, commented: “Following our success in confirming the potential for high-grade copper mineralisation at FME over the past month, the first assay results from Flat Mine South, located about 3km to the south-west of FME have delivered further outstanding copper intercepts. These results show that the Flat Mines complex contains very high-grade copper sulphide mineralisation contained within wider zones of moderate grade intrusive.

“We are encouraged by the potential to rapidly add high-grade tonnes from near-surface bodies such as at Flat Mine Nababeep, and also down-dip and along trend of the blocks being included in the current mine plan.

“Our initial BFS that is nearing completion has only focused on immediately available JORC compliant Mineral Resources from FMN, FME and FMS. However, the potential to expand scale and extend the mine life lies at the core of why Orion invested in the Okiep district. Our aspirational target is to restore our Okiep properties to their historic production levels of 20 000 – 50 000 tonnes of copper production per annum, which previous owners maintained for over five decades. Our ongoing drilling results underscore this potential.”

Source: Supplied by Orion