Prieska Project total resource
The total resource has been upgraded following the completion of an updated open pit resource for the +105m Level Target (1.76 million tonnes at 2.0% zinc and 1.5% copper).
Interestingly, the new total resource follows the landmark upgrade to the Deep Sulphide resource revealed just before Christmas.
Orion’s subsequent scoping study confirmed a robust phase 1 development for the Prieska Project.
Orion managing director and chief executive officer Errol Smart said: “The completion of the first ‘global’ mineral resource for Prieska, encompassing all 2018 drilling data, is a great way to start 2019.
“The total mineral resource for the project now stands at over 30 million tonnes, cementing its position as one of the more significant new VMS development projects globally and highlighting its potential to underpin a substantial, long-life mining operation.
“While the +105m Level mineral resource will be included in the bankable feasibility study which is due for completion in Q2 this year, it is important to note that this deposit will only be scheduled for mining as part of our Phase 2 operations later in the life of the project.
“Our focus remains squarely on the Deep Sulphide Mineral Resource, which will underpin the first decade of operations at Prieska and play a pivotal role in the company’s imminent transformation into a significant base metals developer this year.
“Near-mine exploration of the extensions to the Deep Sulphide resource and satellite discoveries, such as those announced before Christmas, provides potential to extend life of mine or increase annual production in the future.”