- Orion Minerals (ORN) receives encouraging results from the first four holes of a maiden drilling program at its Okiep Copper Project in South Africa
- Drilling probing the mineralisation intersected in historical drilling with a focus on the Carolusberg-Koperberg line of intrusives
- Three holes return high-grade mineralisation with grades peaking at 2.05 per cent copper
- Orion also intersects a new mineralised zone at Koperberg West with a high-grade intercept of 4.76 metres at 3.99 per cent copper returned
- ORN shares end the day 8.7 per cent higher at 2.5 cents
Orion Minerals (ORN) has received encouraging assay results from the first four holes of a maiden drilling program at its Okiep Copper Project.
Okiep lies 570 kilometres north of Cape Town in the Northern Cape Province of South Africa.
Drilling was aimed at testing and expanding the mineralisation intersected in historical drilling with a focus on the Carolusberg-Koperberg line of intrusives.
The Carolusberg Complex was the biggest contributor to mining in the Okiep Copper District, delivering 38 million tonnes grading 1.54 per cent copper of the reported 105 million tonnes mined over the past 100 years.
Orion said 1900 metres of the planned 3500 metres of the diamond drilling program had been completed with 16 holes drilled so far.
Three drill holes confirmed the presence of high-grade mineralisation, returning results including 4.69 metres at 2.05 per cent copper from 49.22 metres, 5.71 metres at 1.93 per cent copper from 72.85 metres and 10.36 metres at 1.84 per cent copper from 58.94 metres.
Orion said drilling also encountered a new mineralised zone at Koperberg West with a high-grade intersection of 4.76 metres at 3.99 per cent copper.
CEO and Managing Director Errol Smart said he was thrilled with the initial results from the maiden diamond program at Okiep.
“The results we’ve received to date have confirmed the historical drill results for high-grade sulphide copper mineralisation near-surface and more importantly … our geological hypothesis for a model for intrusive bodies arranged in en-echelon side-stepping lenses,” he said.
ORN shares ended the day 8.7 per cent higher at 2.5 cents.