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Orion Minerals upgrades Prieska zinc-copper resource to over 30 million tonnes

The completion of the first global resource for Prieska is a great start to 2019.

Bankable feasibility study is due for completion in Q2 2019

Orion Minerals Ltd (ASX:ORN) (JSE:ORN) has revealed an updated resources of 30.49 million tonnes grading 3.7% zinc and 1.2% copper for its Prieska Zinc-Copper Project in South Africa.

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.

READ: Orion Minerals’ pivotal resource upgrade to underpin zinc-copper project development strategy

Orion’s subsequent scoping study confirmed a robust phase 1 development for the Prieska Project.

READ: Orion Minerals’ scoping study reveals near-term potential of Prieska Zinc-Copper 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.”

Quick facts: Orion Minerals Ltd

Price: 0.012 AUD

Market: ASX
Market Cap: $34.79 m

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Full interview: Orion Minerals granted mining right for flagship South...

Orion Minerals Limited (ASX:ORN) managing director and CEO Errol Smart updates Proactive Investors on the company being granted the key mining right by the South African Department of Minerals Resources and Energy for the Prieska Copper-Zinc Project in South Africa. This marks a major...

on 3/9/19

2 min read