• PROJECTS AND EXPLORATION
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SEMI-MASSIVE SULPHIDE DISCOVERY IN GABON
Early in September 2022 Apollo Minerals reported an exciting development after drilling at regional target TP13 at the Kroussou Zinc-Lead Project in Gabon .
Highlights included :
• Semi-massive and disseminated style zinc and lead sulphides visually identified from near surface intercepts in multiple drill holes completed at Target Prospect 13 ( TP13 ).
• TP13 is one of 18 target prospects at the province scale Kroussou Project and is located 7km north of the Dikaki Prospect ( TP11 ) where drilling to date has been focused .
• Mineralised intercepts over more than 200m of strike visually identified in five holes drilled with downhole thickness between 2m and 18m commencing from 3m below surface .
• Discovery of a new style of semi-massive sulphide mineralisation at Kroussou indicates a potentially shear hosted system and possible primary high-grade feeder structures .
• The new mineralisation identified at TP13 remains open to the north and the south .
• Assay results are pending and will be reported when received .
The company ’ s managing director , Neil Inwood commented , “ The new style of mineralisation observed at Target Prospect 13 is a game-changing discovery . We interpret these new mineralised zones to represent primary feeder-structures for high grade zinc and lead . We expect that the assays , when received , will indicate a step change in the target grade-profile at Kroussou .
“ The discovery complements the recent airborne electromagnetic survey and enables our technical team to generate comprehensive exploration targets across the province scale Kroussou Project ."
MINING RIGHT GRANTED FOR FLAT MINES AREA OF OKIEP COPPER PROJECT
The granting of a Mining Right by the South African Department of Mineral Resources and Energy marked a major milestone in the
10 • African Mining • January 2023
• Location : Gabon
• Phase : Exploration
• Resource : Zinc and lead sulphides
• Location : South Africa
• Phase : Exploration
• Resource : Copper development of the Okiep Copper Project , enabling confirmation drilling and metallurgical sampling required for completion of the advanced stage bankable feasibility study .
Orion ’ s managing director and CEO , Errol Smart commented , “ The grant of the SAFTA mining right is a major step forward for Orion and our objective of early production of copper and other Future Facing metals , while continuing to expand our Mineral Resources and beneficiation capacity in the Northern Cape , South Africa . Our bankable feasibility study on the granted mining right area is at an advanced stage and can now be completed with access to the property for bulk sampling and final confirmation drilling purposes .”
The Mining Right has been granted over the key Flat Mines area that lies at the core of the Okiep Copper Project . Granted to Southern African Tantalum Mining ( Pty ) Ltd ( SAFTA ) under the Mineral and Petroleum Resources Development Act , the Mining Right is valid for an initial period of 15 years and can be renewed on application for a further period which may not exceed 30 years .
Orion has completed a positive Scoping Study for the Flat Mines SAFTA area , which demonstrated the economic merit of developing a foundation phase mining operation at the SAFTA properties . The Scoping Study supported a moderate scale start up mining operation on known , drilled copper deposits . Orion ’ s aspiration , with project partner the Industrial Development Corporation ( IDC ) is an early re-establishment of mining operations on the brownfields site , while conducting the required work and engineering studies to support the longer-term goal of achieving production at a similar scale to past owners Newmont and later Goldfields under the Okiep Copper Company .
The grant of the Mining Right follows Orion ’ s announcement on 2 August 2021 that it had exercised its restructured option ( OCP Option ) to acquire a controlling interest in the majority of the properties that form the OCP . The OCP Option was granted to Orion by each of SAFTA , Nababeep Copper Company ( Pty ) Ltd ( NCC ) and Bulletrap Copper Co ( Pty ) Ltd ( BCC ). These entities hold the majority of the large , historical mines in this significant copperproducing district , which has produced more than 2Mt of copper metal over a 150-year period to 2003 .
Orion announced on 16 September 2021 , that the IDC had signalled its intention to remain a key strategic partner in the SAFTA project and work with Orion in the development of the New Okiep Mining Company ( NOM ), that will acquire , the assets owned by SAFTA , which is currently 43 % owned by the IDC . The shareholding in NOM will , in the future , include Orion as majority owner with 56 % holding , the IDC as key strategic partner and historically disadvantaged empowerment partners in compliance with the requirements of the Mining Charter 2018 . This includes a 5 % participation by each of the host community and employee trusts .
The OCP is a significant growth opportunity for Orion , with the potential to become a second base metal production hub for the Company in the Northern Cape , alongside its flagship Prieska Copper-Zinc Project , located 450km east of the OCP .
The grant of the Mining Right represents a major step towards the development of the OCP and clears the way for final engineering studies , Mineral Resource upgrade , drilling and bulk sampling for metallurgical optimisation . Feasibility studies upgrading the 2021
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