Orion Minerals update on Australian projects

Orion Minerals, the owners of SA’s Prieska copper-zinc project, maintains a sizeable tenement package in the Fraser Range Province of Western Australia in joint venture with IGO Limited. Under the terms of the joint venture, IGO is responsible for all exploration on the tenements and provides regular updates to Orion on activities and results.

Importantly, Orion maintains exposure to the ongoing exploration and development of the Fraser Range Project without the additional financial commitment, given that Orion is free-carried through to the first pre-feasibility study on any of the tenements.

Exploration activity conducted by IGO within the IGO – Orion Minerals JV (IGO – ORN JV) during the 3rd Quarter included two moving-loop EM surveys on tenements E39/1654, air-core drilling on tenements, and interpretation of a Passive Seismic survey.

In addition, a new track was identified to access the Hook, Pike and Pike Eye prospects. The track used previously became unpassable to the end of drilling the third hole during first diamond drilling campaign.

WALHALLA GOLD AND POLYMETALS PROJECT (Victoria)

While the Walhalla-Woods Point District is best known for gold mining, high-grade copper-nickel and PGE mineralisation also occurs within the belt. Both the gold and copper-nickel-PGE mineralisation within this district are hosted within dykes from the Woods Point Dyke Swarm (WPDS), a series of ultramafic to felsic dykes occurring over a 75km long north-south belt.

No field or exploration work was carried out on the Victoria Project during the Quarter. During the Quarter, the Company continued to progress licence applications over prospective areas of Walhalla.

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