Orion Minerals Limited (ASX:ORN) Reports Strong Copper Intercepts
Drilling Results
Orion Minerals Limited (ASX:ORN) announced significant assay results from its Flat Mine South (FMS) deposit within the Okiep Copper Project. Notable intersections include 40.52m at 1.34% copper, including 18.52m at 2.00% copper, confirming a substantial strike extension. These developments suggest enhanced copper mineralisation potential.
Results from other drill holes, such as OFMSD082, showed strong intercepts of 5.52m at 1.86% copper, 170m down-dip from previous findings. The ongoing geophysical program has also highlighted compelling indications of mineralisation akin to the renowned Carolusberg Deeps deposit.
Future Engineering Changes
The recent positive exploration results have prompted Orion to revise its primary access and ore handling strategies for FMS. The outcomes of these engineering updates will be included in the Bankable Feasibility Study (BFS), now anticipated for January 2025.
Executive Insights
Errol Smart, Managing Director and CEO of Orion, expressed optimism about the findings, stating, “Our latest drilling results from Flat Mine South show that this deposit is stacking up to become a major growth hub for the Okiep Copper Project.” He emphasised the vertical continuity of copper mineralisation and indicated that the drilling program had not yet reached the most promising horizon.
Project Background
The Okiep Copper Project covers 703 km² of the historic Okiep copper mining district, which has seen significant mining activity. The ongoing exploration and drilling efforts aim to expand the existing mineral resource, leveraging historical data for continued success.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.