Name of the Project
Prieska zinc/copper project.

Location
The project is located 270 km south-west of Kimberley, in the Northern Cape, South Africa.

Client
Orion Minerals owns an effective 73.33% interest in the project through its subsidiary companies.

Project Description
The Prieska zinc/copper deposit has been recorded as one of the world’s top 30 volcanogenic massive sulphide deposits.

The project encompasses the historical Prieska copper mine, where mining ceased in 1989. The site was closed and rehabilitated in 1991, leaving behind a significant portion of the Copperton deposit.

Initial metallurgical testwork at the proposed project has yielded positive results, demonstrating Prieska’s potential to produce high-quality marketable zinc and copper concentrates.

The project has total mineral resources of 29.4-million tonnes for 1.13-million tonnes of zinc and 360 000 t of copper.

Orion intends to establish new mining operations to continue the extraction of the remaining deposit.

Orion MD and CEO Errol Smart has indicated that the project will likely comprise an openpit and underground operation, with the openpit to produce ore while the underground operations are dewatered and re-established.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
None stated.

Value
Not stated.

Duration
Orion Minerals aims to reopen the Prieska mine in 2020.

Latest Developments
Orion Minerals has reported that it will publish an updated resource estimate for its Prieska zinc/copper project in mid-December, which will underpin a bankable feasibility study (BFS) that is set for completion in the second quarter of 2019.

The Prieska deep sulphide drill-out programme has been completed, with 85 424 m drilled since May 2017. During the drilling programme, up to 18 surface diamond drill rigs were at times deployed at once.

Orion completed 87 intersections to in-fill drilling and completed twin historical drilling on 15 intersections for metallurgical sampling.

The programme was successful in confirming excellent continuity of the massive sulphide zinc/copper mineralisation while identifying areas where the resource remains open down-dip and along strike, with potential to add to the current resource.

All core samples have been submitted to ALS Chemex Laboratories for analysis. The deep sulphide mineral resource will be updated once all assay results are returned in two months’ time.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Orion Minerals, tel +61 3 8080 7170, fax +61 3 8080 7174 or email info@orionminerals.com.au.