Orion Minerals Limited · ASX:ORN
Orion Minerals — Orion Gold NL — Technical Presentation (July 2013)
22 slides from Orion Minerals's technical presentation, Jul 8, 2013
Slide 1: Exploration Update: Walhalla Polymetals Project
ASX Announcement / Media Release 8 July 2013 Orion Gold Project Locations Exploration Update: Walhalla Polymetals Project Orion Gold NL (ASX: ORN) is pleased to present the attached Exploration Update with regards to exploration activities at the Walhalla Cu-Ni-PGE Project (the “Walhalla Polymetals
Slide 2: Victoria Polymetal Exploration
ASX Code: ORN www.oriongold.com.au Victoria Polymetal Exploration 4.08% Cu 0.1% Ni 0.74g/t Pt 0.73g/t Pd 0.62g/t Au 18g/t Ag Coopers Creek 1980’s drill core from mineralised keel (CC003; 338 – 339m) - note net textured sulphides 1
Slide 3: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements • Certain statements contained in this presentation, including information as to the future financial or operating performance of Orion Gold NL and its projects, are forward-looking statements. Such forward-looking statements: • are necessarily based upon a
Slide 4: Walhalla Project - Victoria
Walhalla Project - Victoria Highly Prospective Region Walhalla-Woods Point Goldfield – significant regional, historical high-grade gold production - 3rd largest goldfield in world class Victorian Gold Province - +4Moz Au @ >25g/t past production - ORN Existing total Indicated and Inferred Resource 4
Slide 5: Walhalla Polymetal - exploration rationale
Walhalla Polymetal - exploration rationale • Walhalla – Woods Point district is famous as the 3rd largest goldfield in Victoria, but…high grade copper – nickel - PGE also known to occur within the district • Both mineralisation styles are related to the Woods Point Dyke Swarm (‘WPDS’) • ~75 km long
Slide 6: Walhalla: A Model for Gold and Polymetallics
Walhalla: A Model for Gold and Polymetallics Co-genetic model for Au + Polymetallics Modified after Jowitt, Keays, Jackson, Hoggart, Green : Journal Econ Geol. 2012 5
Slide 7: Host morphology - polymetallic deposits
Host morphology - polymetallic deposits • Geometry of the host intrusion is just as important as its petrology • ‘Trap sites’ are crucial in order to facilitate accumulation of the magmatic sulphides • Gravity accumulation – settling of sulphides & early-formed silicates from magma • Changes in magm
Slide 8: WPDS: Key Polymetal prospects
WPDS: Key Polymetal prospects Historical Historic Production1 Grades1.2 Prospect Geology (Cu, Ni, PGE) (Cu, Ni, PGE) 1594t Cu 3.75 – 24.5% Cu North plunging dyke bulge; 258t Ni 0.34 – 3.8% Ni surface expression 150m x 30m Coopers 177oz Pt 2.2 g/t Pt Sulphide accumulations in Creek 299oz Pd 3.7 g/t P
Slide 9: Understanding The Opportunity
Understanding The Opportunity • Small, poorly understood surface expressions probably reduced historical interest • Modern geological understanding emphasises the opportunity present in deposits of this style: • In general the host intrusives have low but anomalous metal tenor at surface • Only a sm
Slide 10: Notional exploration target
Notional exploration target Schematic Plan Section – Notional Exploration Target • 25m (strike) x 125m (average width) • Intersected in drilling 300 metres below surface • SG: 3.2 t/m3 • Tonnes: 10,000t / vertical m • Au equivalent grade: 5 – 6 g/t (based on CC003) • Cu equivalent grade: 3 - 4% Cu (
Slide 11: Coopers Creek
Coopers Creek • Mined sporadically for Cu, records of Ni, Pt, Pd, Au, Ag content from 1865 to 1913 • Total material mined: ca. 13,200t • Two styles of sulphide mineralisation evident • Accumulation of polymetal sulphides within interpreted ‘keel’ of north-plunging dyke bulge; • Sulphide injection wi
Slide 12: Coopers Creek
Coopers Creek Modified after Hazeldene,1996 Modified after Hazeldene,1996 11
Slide 13: Coopers Creek – schematic 3D view of dyke and drilling
Coopers Creek – schematic 3D view of dyke and drilling CC002 Note small Drills across surface dyke bulge, expression of but above keel high grade zone. No mineralisation significant assays Large bulge with DH81_ML001 anomalous , Intersects thin low grade dyke, below mineralisation and to south of bu
Slide 14: East Walhalla
East Walhalla • Dyke bulge (100m long x 30m wide on surface) of ultramafic to intermediate composition • No recorded production • Mineralisation evident as copper carbonate staining (after primary copper sulphides) • Soil sampling (1970’s) highlighted a Cu+Ni in soils anomaly1 • One drill hole (1970
Slide 15: Maynard’s Gully
Maynard’s Gully • Dyke bulge (370m long x 125m wide on surface) of ultramafic to mafic composition • Size is encouraging – approaching 3 x surface expression of Coopers Creek or East Walhalla • No recorded production • Mineralisation evident as disseminated chalcopyrite-pyrrhotite in medium grained
Slide 16: Comparisons
Comparisons Samples of comparable facies and positions in three different WPDS dykes Other Polymetal bearing dykes where keels not identified / tested Coopers Creek dyke Maynard’s Gully 0.27% Cu 0.48% Cu 28ppb Pt 684ppm Ni 90ppb Pd 24ppb Pt 15ppb Au 21ppb Pd <1ppm Ag 9ppb Au 0.5g/t Ag (above mineral
Slide 17: Forward Program
Forward Program • Near term • Review, sampling and analysis of historic drill core from Coopers Creek • Preliminary assessment of other dyke bulge prospects on Orion leases – Eureka, Tubal Cain • Trial soil and stream geochemical sampling at East Walhalla / Maynard’s Gully • Trial ground geophysics
Slide 18: Appendix 1: Reported Gold Resources
APPENDIX 1 REPORTED GOLD RESOURCES 17
Slide 19: Orion Gold In situ Mineral Resources at June 2012
Orion Gold Orion Gold NL – In situ Mineral Resources at 30 June 2012 Deposit Cut-off Measured Indicated Inferred Total Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4 --- --- 177,000 7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4 --- --- 36,000 13.9 117,000 8.8 1
Slide 20: Orion Gold In situ Mineral Resources at June 2012
Orion Gold Orion Gold NL – In situ Mineral Resources at 30 June 2012 Deposit Cut-off Measured Indicated Inferred Total Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4 --- --- 177,000 7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4 --- --- 36,000 13.9 117,000 8.8 1
Slide 21: Metal equivalent grade calculations for drill hole CC003
Orion Gold Metal equivalent grade calculations for drill hole CC003 (Coopers Creek), drilled by Ausplat Minerals NL, 1988 Over 36 metres (303 – 339m) Over 3.5 metres (331.5 – 335m) US$ Au Cu US$ Au Cu Metal Price Grade Grade value/tonne equivalent equivalent value/tonne equivalent equivalent Au US$1
Slide 22: Competent Persons Statement
Orion Gold Competent Persons Statement • The information relating to the Tubal Cain and Eureka Mineral Resource is based on and accurately reflects grade estimation and modelling undertaken by Mr P Ball BSc MAusIMM for Orion Gold NL in the capacity as Consultant Geologist to Orion Gold. The Mineral