Orion Minerals Ltd (ASX:ORN) (JSE:ORN) has completed an 87-hole deep sulphide drill-out program at its flagship Prieska Zinc-Copper Project in South Africa.
The company said today it expected to update its mineral resource statement for the large project on Areachap Belt by mid-December to underpin a definitive feasibility study now expected by the June quarter of next year.
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Orion managing director and CEO Errol Smart told the market: “The completion of this major drilling program is a huge achievement and a really important milestone for Orion on our journey to become a substantial new base metal producer in South Africa.”
The geologist-MD described the 18-month program which involved up to 18 surface diamond rigs operating on a 24-hour clock in Northern Cape province as a “huge endeavour”.
Smart reported: “The program was mainly designed to in-fill the mineralisation within the February 2018 mineral resource footprint with the objective of achieving an upgrade in resource confidence to feed into our bankable feasibility study (BFS).
“Importantly, the drilling has also identified very promising possible extensions to the current resource which will be drill tested in coming months to continue probing areas with potential to expand the resource while we complete the BFS.”
The company said its BFS was still due early next year, as it has reported previously, however Smart said the company would release the study in the June quarter.
READ: Orion Minerals confirms two copper-zinc massive sulphide targets
The company reported more than 475,000 hours spent on the project since May 2017, drilling 85,424 metres.
Orion’s program consisted of 41 mother holes and 61 wedge holes (deflections).
The current deep sulphide inferred resource consists of 27.8 million tonnes grading 3.92% zinc and 1.22% copper on the Repli and Vardocube prospecting rights.
Orion is aiming to improve the confidence level of the inferred resource.
The company today shared 10 new intersections from the deep sulphide target — one from Repli and nine from Vardocube.
Orion reported: “Several targets have been identified in the south-eastern resource area for priority follow-up drilling with potential to increase the resource outline.
“These include a high-grade duplicate massive sulphide horizon which has now been shown to have a large footprint and remains open along strike to the north.
“This horizon is now identified as a priority drill target for expanding the resource base at the Prieska project.”