Orion Minerals (ASX:ORN) More Outstanding Hits at Okiep Copper Project

Price Sensitive Announcement

Overview:

Orion Minerals (ASX/JSE: ORN) has reported further outstanding assay results from the confirmation diamond drilling program in the Flat Mines area at its South African Okiep Copper Project (OCP),

The newest findings provide additional support for Orion’s growth plan for the OCP, expanding on the preliminary outcomes shared on April 22, 2024, and validating the geological composition and resource potential of the Flat Mines Area.

Key Notes:

Assay results received for a further three diamond drill holes at Flat Mine East, building on the
exceptional assays reported on 22 April 2024:

o Drill hole OFMED154: 9.27m at 3.01% Cu and 15.00m at 4.80% Cu within 78.00m at 1.57% Cu,
located 50m along strike from previously reported hole OFMED153 (49m at 4.89% Cu);
o Drill hole OFMED153 (final assays received): increased to 49.35m at 5.05% Cu including 21.66m at
9.41% Cu; and
o Drill hole OFMED155: 50.00m at 1.09% Cu including 18m at 1.44% Cu within 116.9m at 0.75% Cu.

 Flat Mine East, which is a virgin discovery that is blind to surface, will form a key part of Orion’s early
production plan for the Okiep Copper Project.

 The intersections achieved to date support geological and grade distribution interpretations that were incorporated in Mineral Resource modelling and estimation for the Okiep Project.

 Drilling of a planned eleven diamond drill holes totalling 5,800m at Flat Mine East, Flat Mine South and Flat Mine North to confirm historical drilling results, provide geotechnical information and generate
material for additional confirmatory metallurgical test work, are nearing completion.

Company Notes:

Orion’s Managing Director and CEO, Errol Smart, commented:
“These drilling results further amplify the potential for the Flat Mines orebodies to replicate the typical nature of Okiep copper intrusive mineralisation, where zones of very high-grade mineralisation are commonly contained within large bodies of moderate grade. This clearly shows why this district has been such a prolific producer of copper for such a long period of time.

“We have been frustrated by the slow turnaround from accredited laboratories, which are overloaded with exploration samples. This is indicative of the intensity of activity in the copper exploration industry and is in itself an indicator of the challenges involved in accelerating mine development to counter the global metal supply deficit that is developing.

“We are pleased to be nearing completion of our Bankable Feasibility Studies so that we can progress to project finance and mine development on our brownfields redevelopment sites, in parallel with ongoing drilling and exploration to expand our resource base on our surrounding highly prospective mineral rights.”

Full ASX Announcement: 2924-02820202-3A644764 (markitdigital.com)