viewOrion Metals Ltd

Orion Metals to kick off drilling at Killi Killi targeting rare earths


Orion Metals (ASX: ORM) has received approval to drill up to 37 drill holes at its Killi Killi Hills eastern tenement, with initial surface sampling indicating potential for substantial neodymium and heavy rare earth elements.

Target areas are previously identified radiometric anomalies where recent rock chip sample assays have indicated high concentrations of HREEs and gold anomalism.

Assay results are due before end of 2010, subject to regulatory, equipment and weather factors.

The current Orion focus is to find and develop economic sources of neodymium, praseodymium, dysprosium and terbium, where there are shortages in supply.

These elements are used extensively in wind turbines, hybrid electric vehicles and high strength magnets.

The drilling approval came from the West Australia Department of Minerals and Petroleum under a Programme of Work, ID: 28287.

RC drilling is scheduled to commence from 20 October 2010, with Orbit Drilling Pty Ltd undertaking the work.

Last month Orion reported 45 reconnaissance rock chip samples were returned with highly encouraging HREE.

Highlights included:

- Sample KK43 returned 1.28% HREEO and 4.8% TREEO+Y;
- Sample KK15 showed gold at 9.6 g/t; and
- 20%+ of TREEO in prime samples is high value HREEO.

Quick facts: Orion Metals Ltd

Price: 0.016 AUD

Market: ASX
Market Cap: $8.72 m

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