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Orion Minerals says exploration activities in South Africa highlights “very encouraging” high potential for mineralisation

Published: 15:19 29 May 2018 BST

Aerial survey
Orion said it is targeting both volcanogenic massive sulphide Zn-Cu and magmatic sulphide Ni-Cu-Co-PGE style mineralisation

Orion Minerals Limited (ASX:ORN) (JSE:ORN) has said its regional exploration activities in the Areachap Belt, South Africa, where it holds prospecting rights over 196,760 hectares has highlighted “very encouraging” high potential for mineralisation.

In a statement, Orion’s managing director and CEO, Errol Smart commented: "Given the significant number of new anomalies generated by Orion’s initial helicopter-borne Electro Magnetic (SkyTEMTM) survey over our regional landholdings in the highly-prospective yet underexplored Areachap Belt, in our view, the use of modern exploration tools has significantly enhanced the probability of exploration success.”

He added: “We look forward to drill testing multiple targets in coming months with the first drill holes scheduled to commence during June 2018.”

The ASX-listed group said ground electro magnetic (EM) surveys and geological mapping over anomalies resulting from helicopter-borne Electro Magnetic surveys on the Masiqhame and Disawell prospecting rights commenced in May 2018.

Seventeen anomalies prioritised

Orion said it is targeting both volcanogenic massive sulphide (VMS) Zn-Cu and magmatic sulphide Ni-Cu-Co-PGE style mineralisation.

The group said seventeen anomalies are prioritised as VMS targets, and these are spatially associated with a paleo-seafloor setting as determined from field work and the newly acquired airborne magnetic data.

The firm added that ground EM surveying began on 15 May 2018 on the Disawell prospecting rights with the first survey, over the 2.6km-long anomaly at HP3, currently underway.

Orion said the follow-up work at HP3 is targeting VMS-style mineralisation, with mapping over the area confirming “favourable volcanic-related lithologies, including metamorphosed felsic tuffs which form the bulk of outcrops over the anomaly”.

In addition, the group said, “dark, poorly-magnetic chert with traces of pyrite found on the target, are interpreted as a distal exhalative phase of the VMS deposit.”

The firm added that two anomalies - Rok Optel and Area 4 - have been selected for priority ground EM follow-up as Ni-Cu-CoPGE sulphide targets.

Historic nickel-copper sulphide mineralisation

Orion said both are associated with known nickel-copper sulphide mineralisation discovered by previous explorers.

It added that further target generation for magmatic sulphide Ni-Cu-Co-PGE mineralisation is in progress, with the focus on new intrusions and extensions to the Jacomynspan Intrusive Complex, where a Mineral Resource of 6.8Mt at 0.57% Ni, 0.33% Cu and 0.03% Co at a 0.4% Ni cut-off grade was reported.

Orion said: “The recognition of EM anomalies, which may be indicative of massive sulphide Ni – Cu mineralisation in a setting where reinterpretation of historic exploration data has highlighted the high potential for this style of mineralisation is very encouraging.”

It added: “This intrusion has not been definitively tested for localised bodies of massive sulphide mineralisation and no new exploration has been undertaken since 1985.”

Orion also announced that it has released an ‘Investor Presentation - May 2018’, presented by its CEO, and its chairman, Denis Waddell, a copy of which can be viewed on the company’s website.

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