The latest results add further momentum to Orion’s development strategy for the OCP, building on the initial results reported on 22 April 2024, 24 June 2024 and 9 July 2024 including intersections of 49.35m at 5.05% Cu (refer ASX/JSE release 24 June 2024) at Flat Mine East (FME) and 20.50m at 4.99% Cu (refer ASX/JSE release 9 July 2024) at Flat Mine South (FMS) among several other high-grade intersections confirming the geology and endowment of the Flat Mines Area.
Key points:
· Assay results received for confirmation diamond drill holes completed at Flat Mine North and the last two confirmation diamond drillholes completed at Flat Mine South, with highlights including:
o Drill hole OFMSD079 intersected 14.80m at 2.58% Cu within 25.00m at 1.92% Cu.
o Drill hole OFMND243 intersected 36.30m at 1.11% Cu.
· Both Flat Mine North and Flat Mine South 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 the Mineral
· Resource estimation for the Okiep Copper Project.
· Drilling is continuing at Flat Mine South to test the down-dip extension of high-grade mineralisation in a previously untested area.
· Confirmatory drilling has been completed at Flat Mine (Nababeep), where an Inferred Mineral Resource of 1Mt at 1.4% Cu was reported in March 2021. Latest assays include:
o Drill hole OFMD164 intersected 20.69m at 1.82% Cu within 45.69m at 1.26% Cu.
o Drill hole OFMD167 intersected 7.80m at 5.08% Cu.
o Drill hole OFMD169 intersected 21.00 at 1.83% Cu
· The completion of the confirmation drilling programme within the Flat Mines Area represents an important final input for the completion of the Bankable Feasibility Study (BFS) for the Okiep early production plan, with this study on-track for delivery in the coming weeks.