Update on Orion Minerals Australia’s projects

FRASER RANGE – NICKEL-COPPER PROJECTS (Western Australia)

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

No exploration, drilling or sampling was carried out during the Quarter. Between 1 October 2020 and 31 December 2020, the following activities occurred:

• Rehabilitation of 101.12-line km of exploration access and drill lines tracks was completed.

• A heritage survey of E28/2462 in late October was completed within Boonderoo Station along location of planned air-core drilling. No significant cultural sites were found that would suggest any change in exploration activity should occur.

Planned work for the next Quarter will include:

• Interpretation of the AC results, which may subsequently lead to moving loop electromagnetic surveys and or in-fill drilling planned for the 2021 field season; and
• Operational planning of exploration activities within the Kanandah Station area including the installation of piped water and storage for drilling and track building/maintenance. This work will be necessary before diamond drilling commences on E28/2367 later in FY21 (Q4).

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 its licence applications over prospective areas of Walhalla.