Orion Gold buys into WA
PERTH (miningweekly.com) – ASX-listed junior Orion Gold has signed an agreement to gain a controlling stake in prospective tenements across the Fraser Range and Tropicana belts, in Western Australia.
The explorer would acquire all the shares in Kamax Resources, through an 86-for-100 share exchange.
The offer was subject to a due diligence by Orion and the finalization of a share sale agreement, as well as Orion shareholder approval.
The agreement would see Orion gain access to some 913 km2 of granted tenement area and 669 km2 of additional applications over the two belts. Kamax had previously obtained A$100 000 in funding under the state government’s co-funded exploration incentive drilling scheme, and these funds would be put towards a drilling programme to test bedrock targets.
Orion said this week that the tenement areas cover prospective targets for both Tropicana-style gold and Nova-style nickel deposits, with historical geochemical anomalies and scout drilling identifying bedrock mineralisation of both minerals.
“The Kamax ground is a district that has delivered two of Australia’s most important mineral discoveries of the past decade,” said Orion MD Errol Smart.
“The advances in geological understanding of this region, which has become a prime investment destination, are revealing potential for future major discoveries,” he said.
Smart noted that the opportunity to acquire extensive ground holdings, located on prime target structures and with large sampling databases from previous work, was an important opportunity for Orion.
“The fact that bedrock intersections of both gold and nickel exist on the tenement is of prime importance,” he added.
Orion believed that the re-interpretation of historic data, along with the applications of modern exploration would provide a time and cost advantage to the company, as it tried to prove the tenement’s potential.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
