Silver Mines secures $20m investment from Lundin, Rule-led fund
The company's flagship project hosts the largest known undeveloped silver resource in Australia.
Orion Gold NL (ASX:ORN) has revealed further high-grade drilling results from its ongoing diamond drilling program at the historical Prieska Copper Mine in the northern Cape Province, South Africa.
This includes a highlight result of 9.3 metres at 4% zinc, 1.4% copper, 0.13 g/t gold and 9 g/t silver from 170 metres.
The Prieska Project covers unmined dip and strike extensions from historical underground mining, with mineralisation having previously been delineated by extensive drilling and geophysics.
The current drilling program is designed to confirm and extend the historical drilling at the +105 Level, where drilling is targeting mineralisation that would be amenable to open pit mining.
Importantly, significant gold mineralisation was also intersected in the oxide zone surrounding the zinc-copper sulphide mineralisation, including 7 metres at 2.46g/t gold from 23 metres.
Other significant results to date from Orion’s 2016 drilling programs at the +105 Level exploration target include:
– 22 metres at 10.8% zinc, 1.38% copper and 0.3 g/t gold from 57 metres; and
– 20 metres at 8.58% zinc, 2.21% copper and 0.3 g/t gold from 48 metres.
The drilling at +105 Level continues, with two rigs now on site to accelerate drilling operations.
Orion has the right to acquire an unlisted South African company, which, through its subsidiary companies, ultimately holds an effective 73.33% interest in the Prieska Zinc-Copper Project.
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