Orion Minerals Unveils Discovery of High-Grade Copper Deposits

Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is delighted to announce additional exceptional assay results from the confirmation diamond drilling program conducted in the Flat Mines area of its Okiep Copper Project (OCP) in the Northern Cape, South Africa. These latest findings strengthen Orion’s development strategy for the OCP, following up on initial results disclosed on 22 April 2024, and confirming the geological potential and resource richness of the Flat Mines Area.

The OCP spans 641 km² and encompasses the primary region where a cumulative 105 million tonnes have been mined over the past century in the district. The Flat Mines area and the ongoing drilling initiative are fully contained within the granted Mining Right.

The results from the latest three out of five completed drill holes at FME validate the historical data obtained from Goldfields of South Africa's drilling efforts in the 1990s, which were utilized in the Mineral Resource update. This update indicated 9.4 million tonnes at 1.3% copper for the Flat Mines, including 4.4 million tonnes at 1.3% copper specifically at FME.

In February 2024, Orion Minerals initiated a diamond drilling program in the Flat Mines area of the OCP. The program aims to complete a total of 11 diamond core drill holes across FME, Flat Mine South (FMS), and Flat Mine North (FMN), covering approximately 5,800 meters in total, inclusive of non-directional deflections for each hole. This program is structured to verify historical drilling data and associated interpretations, gather geotechnical data, and supply additional material for confirmatory metallurgical testing.

The scheduled program included five holes at FME, four at FMS, and two at FMN. These drill holes were strategically positioned to effectively cover the areas contributing most significantly to the overall estimated Indicated Mineral Resource. Each hole incorporates a deflection (or wedge) through the mineralization to ensure additional material is available for confirmatory metallurgical test work.

Orion’s Managing Director and CEO, Errol Smart, stated: "These drilling results underscore the potential of the Flat Mines orebodies to mirror the typical characteristics of Okiep copper intrusive mineralization, where zones of very high-grade mineralization are often found within larger bodies of moderate grade. This illustrates why this district has been a significant copper producer for a considerable period.

"We have experienced delays from accredited laboratories due to the high volume of exploration samples they are processing. This reflects the intense activity in the copper exploration sector and highlights the challenges in accelerating mine development to address the emerging global metal supply deficit.

" We are close to completing our Bankable Feasibility Studies, which will enable us to secure project financing and initiate mine development at our brownfield redevelopment sites. Simultaneously, we continue with ongoing drilling and exploration efforts to expand our resource base across our highly prospective mineral rights."