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ORION MINERALS LIMITED - Orion Minerals Commences High-Impact Exploration Drilling to Test Prospective Near-Mine Regional Targets at Prieska

Release Date: 20/10/2020 10:35
Code(s): ORN     PDF:  
Wrap Text
Orion Minerals Commences High-Impact Exploration Drilling to Test Prospective Near-Mine Regional Targets at Prieska

Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
(“Orion” or “the Company”)

Orion Minerals Commences High-Impact Exploration Drilling to Test Prospective Near-Mine
and Regional Targets at Prieska

Initial diamond drilling underway at exciting Kielder VMS prospect, just 15km from mine infrastructure

Drilling has commenced with two diamond rigs operating at the Kielder Project, located 15km from
the planned mill at the Prieska Copper-Zinc Project in the Northern Cape, South Africa.

Drilling will test outcropping VMS-style mineralisation with results of up to 4.8m @ 0.46% Cu, 6.18%
Zn and 15g/t Ag from historical shallow drilling by Newmont SA in the 1970s.

The drilling campaign will then test three additional prospects on Orion’s Areachap prospecting
rights:

     o    Drilling at Boksputs will test an electromagnetic response below known copper mineralisation;
     o    Drilling at Kantienpan will investigate the potential that reported historical Iscor drilling results
          under-reported copper and zinc grades; and
     o    At the Jacomynspan Ni-Cu deposit, drilling will test for high grade nickel-copper mineralisation
          close to surface and provide samples for metallurgical test work.

Orion’s Managing Director and CEO, Errol Smart, commented:

“We have compelling drill targets right across our Areachap tenement holdings in the Northern Cape that we
have been itching to test but have not been able to, because of the lockdown requirements for responsible
management of the Covid-19 pandemic. With South Africa finally moving to Lockdown Level 1 from 21 September
2020, we are absolutely delighted to be in a position to finally resume exploration field work after a nine-month
suspension. Our management team has used the lockdown period to progress licensing and access agreements,
and we are now about to re-commence an exciting new phase of exploration across the belt.

"The Prieska Copper-Zinc Mine is one of the few fully permitted and development-ready base metal assets
worldwide, underpinned by a compelling investment case outlined in the updated BFS of May 2020 which
included an NPV (at an 8% discount rate) of AUD779 million from a 12-year foundation phase mine, planned to
produce ~22ktpa of copper and ~70ktpa of zinc1.

“Any new discoveries in the near-mine environment or further afield across our Areachap licences will benefit
from their proximity to the world-class infrastructure we are planning to develop, building on the existing
brownfields mine. Our exploration team believes there is exceptional potential both to grow production and
extend mine life, both within the mine itself and in the surrounding tenements. We believe there is also potential
for a major nickel-copper-cobalt-PGE mine at Jacomynspan, 65km north of the Prieska Project.

“My expectation is that prices for ‘new era’ metals required for the decarbonisation of the global economy are
set to surge in coming years, and Orion is ideally placed to use its first-mover advantage and proven operations
model to rapidly expand our business in the Northern Cape.”

1 The production target and forecast financial information were first reported in ASX announcement of 26 May 2020: “Updated Feasibility Study Delivers…”
available to the public on http://www.orionminerals.com.au/investors/asx-jse-announcements/. All material assumptions underpinning the production target
and forecast financial information in the initial report continue to apply and have not materially changed.

Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to announce that it has commenced a
new phase of high-impact exploration drilling targeting near-mine and regional VMS copper-zinc and nickel-
copper targets at its Prieska Copper-Zinc Project (Prieska Project) in South Africa’s Northern Cape.

The Company has mobilised two diamond drill rigs to its Areachap tenements, with a total of ten diamond drill
holes for a total of 1,800m and nine Reverse Circulation (RC) drill holes for a total of 640m planned for this
campaign.

Drilling will initially be undertaken at the K3 and K6 prospects within the Kielder Project, located on the Dooniespan
prospecting right which is located 15km north-west of the planned Prieska Copper-Zinc Mine (PCZM), within the
Prieska Project (Figure 1).

On completion of three planned holes at K3 and K6, the drill rigs will be mobilised to the northern Prospecting
Rights where drilling will be carried out on the Company’s Namaqua-Disawell and Masiqhame prospecting rights
(Figure 1) at the Boksputs, Kantienpan and Jacomynspan prospects.

Figure 1: Location map showing the prospects on Orion’s tenements in the Areachap belt where drilling will take place during the current drilling
program.
                                                                                                                                             
Prieska Project (Kielder)

Newmont South Africa (Newmont) discovered volcanogenic massive sulphide (VMS) style copper-zinc
mineralisation at three prospects on the Kielder Project in 1976.

The drilling records and exploration reports available to Orion are incomplete, but include reports of feasibility
study work for open pit mining and consideration by Anglovaal and Newmont of a potential joint venture, with
milling of the Kielder open pit ore to be undertaken at the nearby Prieska Copper Mine mill, that was operating
just 15km away at the time.

The tonnages and grades of the ore mentioned in the feasibility study reports cannot be verified by Orion due to
incomplete drilling and exploration records and are therefore not reported in this announcement.

Available Newmont reports indicate that K3 and K6 prospects had returned the best results with maximum
intersections of 4.8m @ 0.46% Cu and 6.18% Zn from 116m in KDH15, at prospect K6, and 13.08m @ 0.23% Cu and
3.69% Zn from 179.21m in KDH3, at prospect K3. A 1% Zn cut-off was used with no top-cut. Where present, internal
waste is included in the intersections.

Drilling only tested the mineralisation at shallow depths with available data showing most of the intersections at
depths of less than 200m. At K3, Newmont drill tested up to the border of the tenement boundary. The
mineralisation potentially continues to the east of the boundary, where Orion has a pending prospecting right
application.

Apart from verifying the Newmont data, the planned holes to be drilled by Orion (Figure 2) will provide drill core
for mineralisation characterisation purposes and to provide a platform for follow-up down-hole geophysics.

Orion has demonstrated the value of applying modern, high-powered down-hole geophysics at the nearby
PCZM VMS deposit, where down-hole geophysics assisted in guiding drilling to define a current Mineral Resource
of 30.49Mt @ 1.2% Cu, 3.7% Zn in accordance with the JORC Code2 (19.13Mt at 1.18% Cu, 3.59% Zn Indicated
Resources and 11.36Mt @ 1.2% Cu, 3.80% Zn Inferred Resources).

Several remaining geophysical targets indicate further extensions of the PCZM deposit at depths of >1,000m
below surface (refer ASX release 25 February 2019).

The shallow depth of mineralisation and the strong potential for strike and dip extensions at K3 and K6 – with the
possibility of higher grades and thicknesses extending beyond the limited Newmont drilling grids – offers a
significant opportunity for Orion to delineate a shallow, near-mine deposit which could become a future source
of satellite ore feed to an expanded operation at PCZM.

2 Mineral Resource reported in ASX release of 15 January 2019: “Prieska Total Resource Exceeds 30Mt @ 3.7% Zn and 1.2% Cu Following Updated Open Pit
Resource” available to the public on http://www.orionminerals.com.au/investors/asx-jse-announcements/. Competent Person Orion’s exploration:
Mr. Errol Smart. Competent Person: Orion’s Mineral Resource: Mr. Sean Duggan. Orion confirms it is not aware of any new information or data that materially
affects the information included in the original market announcement. Orion confirms that all material assumptions and technical parameters underpinning the
mineral resource estimates continue to apply and have not materially changed. Orion confirms that the form and context in which the Competent Person’s
findings are presented have not been materially modified from the original market announcement.
                                                                                                                                                         
Figure 2: Map showing the historical drilling and planned diamond drill holes at K3.

Figure 3: Cross-section showing the mineralisation at K3 as interpreted by Newmont.
                                                                                       
Newmont reported its highest-grade drill intersections at Kielder at K6. While little of the Newmont historical drill
information is available to Orion (Figure 4 and Appendix 1), available reports do indicate that the Newmont
geologists found that the geophysical techniques available at the time, including electro-magnetic (EM) surveys,
failed to detect the mineralisation at K6, rendering geophysical targeting for down-dip and along strike
extensions virtually impossible.

Orion will drill a diamond hole at K6 to obtain core for mineral classification purposes and also as a platform for
the application of modern high-powered geophysical methods.

The Company’s exploration team believe that there is significant potential for a combined approach utilising
structural analysis together with high-powered surface and down-hole geophysics as a viable targeting method
for the mineralisation, which has demonstrated significant copper and zinc grades.

Figure 4: Map of the historical drilling at K6 also showing the planned diamond drill hole.

Boksputs

The Boksputs VMS copper prospect is situated close to the northern boundary of the Masiqhame Prospecting
Right, some 125km NNW of the Prieska Project (Figure 1).

Copper mineralisation was discovered by Anglo American Corporation in 1973 and 12 shallow diamond drill holes
were completed targeting the prospect. The historical data available is incomplete, but copper mineralisation
was reported with intersections reported in the company reports.

Orion conducted five Fixed Loop Time Domain Electro Magnetic (FLTDEM) surveys over SkyTEMTM anomalies at
Boksputs. At the B4 prospect (refer ASX release 24 September 2018), a plunging body of 300m X 1000m with a
conductance of 400S was modelled3.

3 Reported in ASX release of 24 September 2018: “Fixed Loop TDEM results confirm Cu-Zn massive sulphide targets at Boksputs.” available to the public on
http://www.orionminerals.com.au/investors/asx-jse-announcements/. Competent Person Exploration Results: Mr. Richard Hornsey. Orion confirms it is not aware
of any new information or data that materially affects the information included in the original market announcements. Orion confirms that the form and context
in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
                                                                                                                                                             
The EM plate fits Orion’s structural modelling following detailed mapping, with the B4 conductor developed in
the Kraalkop Synform below the Anglo American drill-hole intersections (Figure 5).

Orion interprets the EM conductor down-dip of known mineralisation to be indicative of a greater concentration
of massive sulphides and therefore potentially representing higher grades and widths than previously intersected,
presenting a high-priority drill target.

Two vertical holes are planned to test the FLTDEM conductor as part of the new exploration program (Figures 5
and 6).

Figure 5: Three-dimensional view of the geology, EM conductor, historical drilling and planned drill holes at B4 on Boksputs.
                                                                                                                                       
Figure 6: Map and cross-sections showing the modelled conductors and planned drilling on Boksputs.

Kantienpan

Iscor conducted drilling on the Kantienpan prospect in 1998, completing a total of thirteen diamond holes of
which ten intersected mineralisation (refer ASX release 31 May 2016).

Orion’s review of Iscor records has shown that Iscor reported the results from its in-house assay laboratory, for
which there are no QA-QC records available, and anecdotal evidence is that certified standards were not used
by Iscor at the time. Records show that check assaying of quartered core was done at an independent
commercial laboratory, GoldLab Africa considered to produce high quality assaying, with samples of quartered
core from four holes submitted for check assay.

Table 1 illustrates an apparent inconsistency or potential material bias identified in the assays between the
GoldLab Africa and Iscor laboratory results, with GoldLab Africa reporting materially higher (13% to 115%) zinc
and copper grades over almost all of the intervals that were assayed by GoldLab. The samples assayed by
GoldLab did not always cover the full intersection length. This accounts for the differences in intersection lengths
and intersection grades between Tables 1 and 2.

No analysis of the discrepancy by Iscor geologists is available in the records, nor any explanation as to why Iscor
chose to report their own in-house assays and use those for resource estimation and feasibility studies, given the
potential for material underestimation of copper and zinc grades.

Given that remaining core from the Iscor drilling is not of suitable quality to re-sample and check assay, Orion is
planning to twin four intersections with short wedges off the historical holes. Four holes that are known to be open
and previously used for down-hole geophysics by Orion were selected for twinning (Figure 7), with short
deflections to be drilled off the mother holes. The holes are listed in Table 2.

The mineralisation at Kantienpan remains open at depth and along strike to the north, with FLTEM plates
presenting attractive drill targets.
                                                                                                                    
Figure 7: Map showing boreholes KN004, 005, 007 and 010 where intersections will be twinned.



                                         Width                                                Iscor variance to
                   Down hole depth        (m)        Iscor Laboratory      GoldLab Africa          Goldlab (%)             Comment
       Hole ID                                                                                
                   From         To                 Cu %       Zn %         Cu %      Zn %       Cu         Zn
       KN003       192.00     196.00      4.00     0.42        3.36        0.47      3.79      -14        -13      Continuous intersection
                                                                                                                   by no GoldLab Africa
       KN003       197.00     205.00      8.00     0.31        3.97        0.35      4.56      -12        -15      assay result in database
                                                                                                                   for 196 - 197m interval
       KN004       106.89     109.89      3.00     0.06        2.21        0.07      2.53       -6        -14

       KN005       82.05       88.89      6.84     0.96        6.73        0.69      8.81       27        -31      The total intersection
                                                                                                                   width 8.84m but no
                                                                                                                   assay result for the 88.89
                                                                                                                   to 90.89m interval
       KN006       103.69     105.90      2.21     0.22        2.23        0.22      4.79       0        -115



Table 1: Assay results from the Iscor Laboratory and GoldLab Africa Laboratory illustrating the discrepancy in Cu and Zn concentrations reported
                                  by the Iscor and GoldLab Africa laboratories. The discrepancy is expressed as:
              (metal concentration % by Iscor Laboratory)- (metal concentration % by GoldLab Laboratory)
                                      metal concentration % by Iscor Laboratory                                      X 100




                                                                                                                                                
                                          Top of         Intersection                                               Top of         Planned
                  Historic drill                                             Cu         Zn        Planned
                                       intersection          width                                                  wedge           metres
                      hole                                                   (%)       (%)       twin hole
                                           (m)                (m)                                                    (m)              (m)
                      KN004               106.39              9.00           0.14     1.27       KN004-D1             195              30

                      KN005                82.05              8.84           1.02     6.32       KN005-D1              68              30

                      KN007               105.96              7.00           0.57     3.15       KN007-D1              90              30

                      KN010               190.02              6.15           0.49     4.74       KN010-D1             175              30



Table 2: Summary of twin holes planned on Kantienpan with intersections calculated from historical Iscor data. A 0.3% Zn cut-off was used to
calculate the intersections. No top cut was used, and internal waste was included.

Jacomynspan

The previous owners, Namaqua Nickel, conducted a Feasibility Study and applied for Mining Right on an
underground mine with a Mineral Resource of 6.8Mt at 0.57% Ni, 0.33% Cu, 0.03% Co, 0.19g/t Pt, 0.12g/t Pd, 0.07g/t
Au at Jacomynspan reported in accordance with the JORC Code 4 (1.8 Mt at 0.55% Ni, 0.29% Cu, 0.03% Co,
0.17g/t Pt, 0.11g/t Pd, 0.07 g/t Au Indicated Resources and 5.0 Mt @ 0.58% Ni, 0.35% Cu, 0.03% Co, 0.19g/t Pt,
0.13g/t Pd, 0.07g/t Au Inferred Resources).

A combination of recent price increases for “new era” metals (Ni, Cu, Co, PGE), the strong outlook for these
metals against the backdrop of accelerating decarbonisation of the world economy, and advances in
processing technologies, has prompted Orion to re-evaluate the proposed mine plan for Jacomynspan including
a review of the potential to treat both oxide ore and open pit sulphide ore with the inclusion of beneficiation.

Drilling is planned to test the economic potential of shallow Ni-Cu-Co-PGE and Au mineralisation on the
Jacomynspan Ni-Cu deposit (Figure 8). Over the 3km strike length of the deposit, the upper 150m remains largely
untested. The planned drilling will test for high-grade mineralisation close to surface and obtain material for
metallurgical test work.

JMP030 intersected higher grade mineralisation of 0.29% Cu and 0.40% Ni over a true width of 25m at a vertical
depth of 110m in harzburgite, developed on the hanging wall contact of the ultramafic intrusion (Figure 9) (refer
ASX release 8 March 2018). 100m up-dip, JMP028 intersected oxidised tremolite schist with a true thickness of
19.92m with grades of 0.18% Cu and 0.23% Ni and no harzburgite recorded in the hole.

There is a possibility that JMP028 was collared in the footwall of the harzburgite unit and that the high-grade
harzburgite mineralisation has not pinched out between drill holes JMP030 and 028 (Figure 9).

Diamond drill hole PHJD1 is planned to test for high-grade mineralisation and harzburgite up-dip of JMP 30. Nine
RC holes are also planned on three sections to obtain metallurgical samples of the oxide and shallow sulphide
mineralisation on this section.

Should drilling discover the existence of high grade mineralisation close to surface and metallurgical test work
indicate that nickel and copper can be leached from the oxides, the possibility of developing a large scale,
open pit operation on the Jacomynspan deposit will be further investigated.

4 Mineral Resource reported in ASX release of 8 March 2018: “Geological Modelling Confirms Compelling Targets Surrounding the Jacomynspan Ni-Cu-Co-PGE
Intrusive” available to the public on http://www.orionminerals.com.au/investors/asx-jse-announcements/. Competent Person Mineral Resource: Mr. Jeremy
Witley. Orion confirms it is not aware of any new information or data that materially affects the information included in the original market announcement. Orion
confirms that all material assumptions and technical parameters underpinning the mineral resource estimates continue to apply and have not materially
changed. Orion confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original
market announcement.
                                                                                                                                                                
Figure 8: Map of the Jacomynspan Prospect with the planned drill area indicated.

Figure 9: Cross-section showing the high grade Harzburgite drill target and planned drilling.


For and on behalf of the Board.




Errol Smart
Managing Director and CEO

20 October 2020




                                                                                                                    
ENQUIRIES

Investors                                    Media                                          JSE Sponsor
Errol Smart – Managing Director &            Nicholas Read                                  Monique Martinez
CEO
Denis Waddell – Chairman                     Read Corporate, Australia                      Merchantec Capital
T: +61 (0) 3 8080 7170                       T: +61 (0) 419 929 046                         T: +27 (0) 11 325 6363
E: info@orionminerals.com.au                 E: nicholas@readcorporate.com.au               E: monique@merchantec.co.za

Competent Person Statement

The information in this report that relates to Exploration Results has been compiled under the supervision of Mr Conrad Louw
van Schalkwyk, a Competent Person who is registered with the South African Council for Natural Scientific Professionals, a
‘Recognised Professional Organisation (RPO). Mr Van Schalkwyk is a full-time employee of Orion in the role of Executive:
Exploration. Mr Van Schalkwyk has sufficient experience that is relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the
‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Van Schalkwyk consents to
the inclusion in the report of the matters based on his information in the form and context in which it appears.

Disclaimer

This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and
results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or
may be based on assumptions and estimates related to future technical, economic, market, political, social and other
conditions. These forward-looking statements are based on management’s expectations and beliefs concerning future
events. Forward-looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks,
uncertainties and other factors, many of which are outside the control of Orion. Actual results and developments may vary
materially from those expressed in this release. Given these uncertainties, readers are cautioned not to place undue reliance
on such forward-looking statements. Orion makes no undertaking to subsequently update or revise the forward-looking
statements made in this release to reflect events or circumstances after the date of this release. All information in respect of
Exploration Results and other technical information should be read in conjunction with Competent Person Statements in this
release (where applicable). To the maximum extent permitted by law, Orion and any of its related bodies corporate and
affiliates and their officers, employees, agents, associates and advisers:
•      disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in
       expectations or assumptions;
•      do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the
       information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or
       implied in any forward-looking statement; and
•      disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
       negligence).
                                                                                                                            
Appendix 1:

Table 3: Drill hole information and intersections of historical holes drilled on the K3 and K6 prospects Dooniespan 103 portion 6. A 1% Zn cut-off
was used with no top cut-off. Where present, internal waste is included in the intersections.

                                                                             Final                                   Cu                   Au       Ag
  Hole No      Prospect        UTM E     UTM N      Inclination   Bearing    Depth       From (m)     Width (m)      wt%      Zn wt%      (g/t)    (g/t)
KDH1           K3              618690   6696414            -55       169       66.06    Hole abandoned
KDH2           K3              618724   6696258            -65       349      199.08        116.32         6.11        0.4        3.01     0.27     3.32
KDH3           K3              618757   6696106            -60       349       274.5        179.21        13.08       0.23        3.69     0.19     4.67
KDH4           K3              618778   6695998            -70       349       491.1        246.95          0.6       0.51        6.84     0.09      3.7
KDH5           K3              618810   6695839            -70       349      596.75         556.4          0.8       0.04        3.59     0.07      2.7
KDH6           K3              619136   6696240            -80       349      405.15    No intersection
KDH7           K3              618918   6696293            -50       349      178.76         104.8          0.6       0.12        1.16     0.14      4.3
KDH8           K3              618540   6696166            -60       349      175.85        151.45         0.35       0.16        0.01   <0.05       1.1
KDH9           K3              618573   6696009            -60       349       288.7           148            2        0.2        0.01     0.11     0.05
KDH10          K3              618451   6695455            -50       169      138.25    No data available
KDH11          K3              618495   6695300            -45       349       175.5    No mineralisation
KDH15          K6              612652   6694766            -55        79       175.7           116          4.8       0.46        6.18      0.1     15.4
KDH16          K6              618945   6696163            -60       349       224.6    No mineralisation
KDH17          K6              612668   6694671            -55        79       175.7         114.4          0.3       0.26        2.14      5.9     20.2
KDH18          K6              612608   6694656            -65        79       239.9        184.78          3.1       0.34        5.75      0.3    11.62
KDH19          K6              612612   6694857            -45        79      192.25    No data available
KDH20          K6              612635   6694559            -55        79       274.1    No data available
KDH21          K6              612595   6694956            -45        79                No data available
KDH25          K6              612542   6694749            -55        79       249.8    No data available
KDH26          K6              612576   6694548            -55        79        289     No data available
KDH27          K6              612629   6694456            -65        79       332.8    No data available
KDH28          K6              612504   6694583            -65        79           1    No data available
KDH29          K3              618850   6696138            -60       349      283.35    No data available
KDH30          K3              618699   6695888            -60       349      405.35    No data available

Coordinate system: UTM/WGS84 Zone 34J

Table 4: Drill hole information and intersections of historical holes drilled on Kantienpan.

                Collar Location (Gauss                                                                               Assay Data
                    Kruger LO 21)                                                    Intercept Data
                                                  Dip /          Total
                                               Azimuth       Depth (m)      From (m)     To (m)       Length
 Hole ID        Easting          Northing                                                               (m)          Zn (%)     Cu (%)
                                                                                                        
 KN001           53135          -3214191      -60 / 260            309.33                  No Significant Intersection

 KN002           53097          -3214062      -60 / 260            234.03                  No Significant Intersection

 KN003           53099          -3214060      -60 / 080            302.80        192         205        13.0         3.96         0.36

 KN004           53265          -3214180      -60 / 260            154.89     106.89      115.89         9.0         1.27         0.14

                                                            including         106.89      109.89         3.0         2.21         0.06

 KN005           53345          -3214383      -60 / 260            151.32      82.05       90.89        8.84         6.32         1.02

 KN006           53200          -3213851      -60 / 260            140.00     103.69      104.69         1.0         4.59         0.24

 KN007           53234          -3214057      -60 / 260            140.00     105.96      112.96         7.0         3.15         0.57

 KN008           53400          -3214445      -60 / 230            155.30                  No Significant Intersection

 KN009           53306          -3213938      -60 / 260            280.80     241.37      243.87         2.5         4.50         0.56

 KN010           53345          -3214170      -60 / 260            242.20     190.02      196.17        6.15         4.74         0.49

 KN011           53388          -3214248      -60 / 260            239.50     204.07      206.70        2.63         6.59         0.35

 KN012           53373          -3214033      -60 / 260            307.15     278.34      281.31        2.97         5.09         0.30

                                                                              291.82      292.70        0.88         7.42         0.26

 KN013           53288          -3213836      -60 / 260            256.60                        Hole Abandoned

 KN013A          53288          -3213836      -60 / 260            284.95     255.21      256.68        1.47         2.57         0.09

                                                                               259.0      259.83        0.83         1.29         0.23
  All intersections > 1% Zn
                                                                                                                                                   
Appendix 2: The following tables are provided as a requirement under the JORC Code (2012) requirements for the reporting of Exploration Results for the Namaqua-
Disawell Project: Hartebeestpan (Area 4) and Rok Optel Prospects.

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria                JORC Code explanation                                                                 Commentary
Sampling techniques     • Nature and quality of sampling (e.g. cut channels, random chips, or specific        JACOMYNSPAN
                          specialised industry standard measurement tools appropriate to the minerals         • The deposit was sampled using diamond core drilling.
                          under investigation, such as down hole gamma sondes, or handheld XRF                • Drill results reported are from drilling and sampling conducted by
                          instruments, etc.). These examples should not be taken as limiting the broad          ANHL in 2011 and 2012.
                          meaning of sampling.                                                                • NQ size cores collected by ANHL were cut longitudinally in half
                        • Include reference to measures taken to ensure sample representivity and               and nominal 0.5 or 1 metre sample lengths were taken. These were
                          the appropriate calibration of any measurement tools or systems used.                 varied to honour geological / mineralisation boundaries.
                        • Aspects of the determination of mineralisation that are Material to the Public      • The ANHL half core samples were crushed on-site using a jaw
                          Report.                                                                               crusher with a 5 mm aperture. The crushed sample was riffle split.
                        • In cases where ‘industry standard’ work has been done this would be                   One half was sent to the laboratory and the other kept on-site.
                          relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m          One in every 20 samples was split again to prepare a coarse
                          samples from which 3 kg was pulverised to produce a 30 g charge for fire              duplicate.
                          assay’). In other cases, more explanation may be required, such as where            • The riffle splitter and jaw crusher were cleaned with compressed
                          there is coarse gold that has inherent sampling problems. Unusual                     air after each sample was processed.
                          commodities or mineralisation types (e.g. submarine nodules) may warrant            • The ANHL samples were sent to accredited laboratory Intertek
                          disclosure of detailed information.                                                   Genalysis in 2011 and ALS Chemex (ALS) in 2012, where they were
                                                                                                                pulverised to produce either a 25 g aliquot (Intertek Genalysis) or
                                                                                                                30 g aliquot (ALS) for Pt, Pd and Au determination by fire assay or
                                                                                                                a smaller amount for digestion and determination of base metals.
                                                                                                              • Diamond core was continuously sampled in approximately 1m –
                                                                                                                1.5m intervals.
                                                                                                              KIELDER
                                                                                                              • The core was sampled in lengths varying from 0.06m to 2.50m, with
                                                                                                                a mean of 1.17m. This is appropriate for a reconnaissance-level
                                                                                                                assessment of volcanogenic massive sulphide deposits.
                                                                                                              • No additional details are supplied of the sampling techniques of the
                                                                                                                historical drilling presented in the figures and tables in this report and
                                                                                                                publicly reported here for this first time. It is assumed that the work
                                                                                                                was undertaken according to the ‘industry standards’ of the period.
                                                                                                              KANTIENPAN
                                                                                                              • Diamond core drilling used to obtain NQ and BQ sized core.
                                                                                                              • Core was split using a diamond saw and 1 m samples were taken
                                                                                                                between contacts.
                                                                                                              • Samples were sent to Iscor in-house laboratories for AA and ICP
                                                                                                                analysis, with duplicate samples also sent to Goldlabs Africa, a
                                                                                                                member of Setpoint Technology Group.
                                                                                                              • Drill sections spaced at approximately 100m, with two sections of
                                                                                                                drill fences with holes spaced at 100m – 150m intervals.
Criteria                JORC Code explanation                                                                 Commentary
                                                                                                              • Sampling carried out under supervision using procedures outlined
                                                                                                                below including industry standard QA/QC.
                                                                                                              BOKSPUTS
                                                                                                              • Diamond core drilling used. No data is available on the core size.
                                                                                                              • Core was split using a core splitter.
                                                                                                              • Drill holes were spaced 100m to 300m apart.
                                                                                                              • No records exist on sampling protocols. Both Anglo American
                                                                                                                Corporation and Shell minerals were reputable companies and it is
                                                                                                                assumed that the work was undertaken according to the ‘industry
                                                                                                                standards’ of the period.
Drilling techniques     •   Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast,   JACOMYNSPAN
                            auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or            • All drill holes reported here were diamond drilled, NQ cored and
                            standard tube, depth of diamond tails, face-sampling bit or other type,             collared at angles of between -45° and -80°.
                            whether core is oriented and if so, by what method, etc.).                        • ANHL drilling was by wireline.
                                                                                                              • Drill cores were not oriented.
                                                                                                              KIELDER
                                                                                                              • The historical drilling is presented in the figures and text in this report
                                                                                                                 and publicly reported here for this first time.
                                                                                                              • Diamond core drilling was undertaken.
                                                                                                              • No details of the drilling companies used.
                                                                                                              • BQ size core were drilled. The core is not available.
                                                                                                              • Drill holes were drilled at -45° to -65°.
                                                                                                              • There is no record of orientated core.
                                                                                                              KANTIENPAN
                                                                                                              • Diamond drilling of NQ and BQ sized core. Core was not orientated.
                                                                                                              BOKSPUTS
                                                                                                              • Diamond drilling of unknown core size were used.
                                                                                                              • No record exists of core orientation.
                                                                                                              • Holes were drilled at inclinations of -45 to -80 degrees.
Drill sample recovery   •   Method of recording and assessing core and chip sample recoveries and             JACOMYNSPAN
                            results assessed.                                                                 • The drill cores were fitted together and recovered length was
                        •   Measures taken to maximise sample recovery and ensure representative                measured.
                            nature of the samples.                                                            • Core recovery was found to be excellent (>98% within the
                        •   Whether a relationship exists between sample recovery and grade and                 mineralised ultramafics) for the ANHL holes and therefore no
                            whether sample bias may have occurred due to preferential loss/gain of              significant sample bias was introduced. No information is available
                            fine/coarse material.                                                               on the core recovery of pre-ANHL drilling.
                                                                                                              KIELDER
                                                                                                              • No information is available on core recovery.
                                                                                                              KANTIENPAN
                                                                                                              • The drill cores were fitted together and recovered length was




                                                                                                                                                                                   
Criteria                JORC Code explanation                                                                Commentary
                                                                                                               measured
                                                                                                             • Core recovery reconciliations were recorded and recoveries of
                                                                                                               higher than 95% were recorded across the ore zones.
                                                                                                             BOKSPUTS
                                                                                                             •   No information is available on core recovery.
Logging                 •   Whether core and chip samples have been geologically and geo-                    JACOMYNSPAN
                            technically logged to a level of detail to support appropriate Mineral           • Core of the entire hole length was geologically logged by
                            Resource estimation, mining studies and metallurgical studies.                     qualified geologists.
                        •   Whether logging is qualitative or quantitative in nature. Core (or costean,      • Basic geotechnical logging was carried out from 20m above the
                            channel, etc.) photography.                                                        mineralisation to 20m below.
                        •   The total length and percentage of the relevant intersections logged.            • Geological logging was qualitative and was carried out using a
                                                                                                               standard sheet with a set of standard codes to describe lithology,
                                                                                                               structure and mineralisation. The logging sheet allows for free-form
                                                                                                               description to note any unusual features.
                                                                                                             • Geological logs were captured electronically.
                                                                                                             • All cores were photographed before and after sampling.
                                                                                                             KIELDER
                                                                                                             • The drill hole core has been geologically logged to a high standard.
                                                                                                             • Geological logging was descriptive and carried out using a
                                                                                                                standard sheet. Lithology, structure and mineralisation were
                                                                                                                described.
                                                                                                             • No geotechnical information is available.
                                                                                                             • No core photography is available.
                                                                                                             KANTIENPAN
                                                                                                             • All holes logged using visual inspection of both full and split core. All
                                                                                                               logs have been located at this point in time.
                                                                                                             • Qualitative logging of colour, grainsize, weathering, structural
                                                                                                               fabric, lithology, alteration type and sulphide mineralogy carried
                                                                                                               out.
                                                                                                             • Quantitative estimate of sulphide mineralogy.
                                                                                                             BOKSPUTS
                                                                                                             • No information is available on logging methods.
Sub-sampling            •   If core, whether cut or sawn and whether quarter, half or all core taken.        JACOMYNSPAN
techniques and sample   •   If non-core, whether riffled, tube sampled, rotary split, etc. and whether       • The diamond drill hole cores were split longitudinally in half using a
preparation                 sampled wet or dry.                                                                diamond saw and were continuously sampled in nominal 0.5m or
                        •   For all sample types, the nature, quality and appropriateness of the sample        1m intervals. The sample interval was adjusted in order to honour
                            preparation technique.                                                             geological contacts.
                        •   Quality control procedures adopted for all sub-sampling stages to maximise       • The half core samples were crushed on-site using a jaw crusher
                            representivity of samples.                                                         with a 5mm aperture. The crushed sample was riffle split. One half
                        •   Measures taken to ensure that the sampling is representative of the in-situ        was sent to the laboratory and the other kept on-site. The crushed
                            material collected, including for instance results for field duplicate/second-     samples were finely pulverised at the laboratories. The sample




                                                                                                                                                                                
Criteria                JORC Code explanation                                                               Commentary
                          half sampling.                                                                      preparation technique is appropriate for the style of mineralisation
                        • Whether sample sizes are appropriate to the grain size of the material being        at Jacomynspan.
                          sampled.                                                                          • One in every 20 samples was split again to prepare a coarse
                                                                                                              duplicate.
                                                                                                            • The base metal assays for crushed core duplicate samples were
                                                                                                              mostly within 10% of the original sample indicating that sub-
                                                                                                              samples are representative. Poorer precision was noted for the
                                                                                                              precious metal assays, which is expected given the generally low
                                                                                                              values.
                                                                                                            KIELDER
                                                                                                            • No details are available with respect to sub-sampling techniques
                                                                                                               and sample preparation.
                                                                                                            KANTIENPAN
                                                                                                            • Results announced for core samples are from half core, sawn on
                                                                                                              site.
                                                                                                            • Samples were crushed and milled by Iscor’s in-house laboratories
                                                                                                              and were milled to -80 mesh.
                                                                                                            • The samples were split into 3 fractions to be used for the different
                                                                                                              analytical techniques and for the external laboratory.
                                                                                                            • Selected mineralised sections where sampled as quartered core for
                                                                                                              check assaying.
                                                                                                            BOKSPUTS
                                                                                                            • Core was split on site using a core splitter.
                                                                                                            • No other details are available on sampling techniques and sample
                                                                                                              preparation.
Quality of assay data   •   The nature, quality and appropriateness of the assaying and laboratory          JACOMYNSPAN
and laboratory tests        procedures used and whether the technique is considered partial or total.       • Intertek Genalysis (Johannesburg) completed the 2011 assays and
                        •   For geophysical tools, spectrometers, handheld XRF instruments, etc., the         ALS completed the 2012 assays. For base metals, Genalysis used an
                            parameters used in determining the analysis including instrument make and         aqua regia digest with ICP-OES finish and ALS used a four-acid
                            model, reading times, calibrations factors applied and their derivation, etc.     digest with ICP-AES finish. A bias test was carried out that indicated
                        •   Nature of quality control procedures adopted (e.g. standards, blanks,             that the different dissolution did not materially affect the assay
                            duplicates, external laboratory checks) and whether acceptable levels of          results between the two drilling campaigns. For both laboratories,
                            accuracy (i.e. lack of bias) and precision have been established.                 the method used for PGE analysis was lead fire assay. Genalysis
                                                                                                              used a 25 g aliquot and the concentrations were read with an ICP-
                                                                                                              MS, which provides a lower detection limit of 1 ppb. ALS used a 30
                                                                                                              g aliquot with ICP-AES finish, which provides for 1 ppb lower
                                                                                                              detection limit for Pd and Au and 5 ppb for Pt.
                                                                                                            • External quality assurance of the laboratory assays was monitored
                                                                                                              by the insertion of:
                                                                                                                -    Blank samples;
                                                                                                                -    Coarse field duplicates consisting of a split sub-sample of the
                                                                                                                     original crushed sample material; and




                                                                                                                                                                            
Criteria                   JORC Code explanation                                                             Commentary
                                                                                                                - Certified reference materials.
                                                                                                             KIELDER
                                                                                                             • No details are available with respect to laboratory, or quality
                                                                                                                control.
                                                                                                             KANTIENPAN
                                                                                                             • Samples were analysed at Iscor’s in-house labs using AA and ICP
                                                                                                                techniques
                                                                                                             • Quarter core samples of more than 50% of the mineralised samples
                                                                                                               were sent to GoldLabs Africa for separate preparation and ICP
                                                                                                               analysis.
                                                                                                             • The GoldLabs Africa assays were shown to report notably higher
                                                                                                               value on almost all higher grade zinc copper samples.
                                                                                                             • Iscor Laboratory results were accepted and were used by Iscor in
                                                                                                               evaluating the deposit.
                                                                                                             BOKSPUTS
                                                                                                             • No details are available with respect to laboratory, or quality
                                                                                                               control.
Verification of sampling   •   The verification of significant intersections by either independent or        JACOMYNSPAN
and assaying                   alternative company personnel.                                                • Data were stored in a Microsoft Excel database. MSA completed
                           •   The use of twinned holes.                                                       spot checks on the database and is confident that the database
                           •   Documentation of primary data, data entry procedures, data verification,        was an accurate representation of the original data collected.
                               data storage (physical and electronic) protocols.
                                                                                                              KIELDER
                           •   Discuss any adjustment to assay data.
                                                                                                              • No data is available of any verification of the data or storage of the
                                                                                                                 data by Newmont.
                                                                                                              KANTIENPAN
                                                                                                              • Data were compiled in a Microsoft Excel database by the
                                                                                                                Company.
                                                                                                              • No assay data were adjusted and paper copies of the certificate
                                                                                                                of analysis are available.
                                                                                                              BOKSPUTS
                                                                                                              • No data is available of any verification of the data or storage of the
                                                                                                                data by Anglo American or Shell Minerals.
Location of data points    •   Accuracy and quality of surveys used to locate drill holes (collar and down-   JACOMYNSPAN
                               hole surveys), trenches, mine workings and other locations used in Mineral     • All the ANHL drill hole collars have been surveyed by a qualified
                               Resource estimation.                                                             surveyor using a differential GPS. Downhole positions were surveyed
                           •   Specification of the grid system used.                                           using an electronic multi-shot instrument.
                           •   Quality and adequacy of topographic control.                                   • The topographic surface was based on contours from the
                                                                                                                government survey plan, with additional data from the surveyed
                                                                                                                drill hole collars.
                                                                                                              • Coordinates are relative to the WGS84-LO21 datum.



                                                                                                                                                                              
Criteria                  JORC Code explanation                                                               Commentary
                                                                                                              KIELDER
                                                                                                              • The drill holes are indicated on the geological maps.
                                                                                                              • The collars have been located in the field and surveyed using a
                                                                                                                handheld Garmin GPS.
                                                                                                              • The data are recorded using the WGS84 datum, UTM Zone 34S.
                                                                                                              • Downhole positions were surveyed using a Sperry-Sun instrument.
                                                                                                                Data was used to plot the holes on available sections. The recorded
                                                                                                                data is not available.
                                                                                                              KANTIENPAN
                                                                                                              • Collar positions were surveyed by a qualified, Iscor in-house surveyor
                                                                                                                using a theodolite and prism.
                                                                                                              • Co-ordinates were reported in South African standard Gauss Kruger
                                                                                                                LO23 coordinates and transformed to UTM WGS84 by a qualified
                                                                                                                surveyor.
                                                                                                              • No downhole survey data is available and survey methods are
                                                                                                                unknown.
                                                                                                              • Topographic control is based on topographic data derived from
                                                                                                                public data.
                                                                                                              BOKSPUTS
                                                                                                              • Collar positions of the holes located in the field were surveyed using
                                                                                                                a hand-held Garmin GPS.
                                                                                                              • The data are recorded using the WGS84 datum, UTM Zone 34S.
Data      spacing   and   •   Data- spacing for reporting of Exploration Results.                             JACOMYNSPAN
distribution              •   Whether the data-spacing and distribution is sufficient to establish the        • Drill holes intersected the mineralisation between approximately 40
                              degree of geological and grade continuity appropriate for the Mineral             m and 150 m apart.
                              Resource and Ore Reserve estimation procedure(s) and classifications            • Samples were composited to 1 m intervals for grade estimation.
                              applied.
                                                                                                              KIELDER
                          •   Whether sample compositing has been applied.
                                                                                                              • At K3 the drill holes were drilled on sections spaced 200m apart over
                                                                                                                a strike distance off 400m. Hole spacing were at 160m on the
                                                                                                                sections and two infill holes were drilled.
                                                                                                              • At K6 holes were drilled on section lines 100m apart with hole
                                                                                                                spacing 60m to 120m on the section lines.
                                                                                                              • Data spacing is insufficient to establish a Mineral Resource.
                                                                                                              • No sample compositing was done.
                                                                                                              KANTIENPAN
                                                                                                              • Drill hole spacing are 80m to 140m apart and to widely spaced to
                                                                                                                accurately estimate grade distribution and continuity required for
                                                                                                                Resource estimations.
                                                                                                             BOKSPUTS
                                                                                                             • Drill holes were spaced 300m to 100m apart and was not intended
                                                                                                               for resource estimates.




                                                                                                                                                                         
Criteria                 JORC Code explanation                                                               Commentary
Orientation of data in   • Whether the orientation of sampling achieves unbiased sampling of possible        JACOMYNSPAN
relation to geological     structures and the extent to which this is known, considering the deposit         • The stratigraphy dips steeply to the south. Drilling was undertaken
structure                  type.                                                                               from the south to intersect at a reasonable angle to dip.
                         • If the relationship between the drilling orientation and the orientation of key
                                                                                                             KIELDER
                           mineralised structures is considered to have introduced a sampling bias, this
                                                                                                             • K3. The stratigraphy dips steeply to the south. Drilling was
                           should be assessed and reported if material.
                                                                                                                undertaken from the south to intersect at a reasonable angle to dip.
                                                                                                             • K6. The stratigraphy dips steeply to the west. Drilling was undertaken
                                                                                                                from the west to intersect at a reasonable angle to dip.
                                                                                                             KANTIENPAN
                                                                                                             • The stratigraphy dips steeply to the west. Drilling was undertaken
                                                                                                               from the west and inclined to intersect at a reasonable angle to dip.
                                                                                                             BOKSPUTS
                                                                                                             • The stratigraphy dips steeply to the west. Drilling was undertaken
                                                                                                               from the west and inclined to intersect at a reasonable angle to dip.
Sample security          •   The measures taken to ensure sample security.                                   JACOMYNSPAN
                                                                                                             • The sample bags were effectively sealed with cable ties and
                                                                                                               combined into larger bags for laboratory dispatch. The set of
                                                                                                               samples from each hole forms a single batch.
                                                                                                             KIELDER
                                                                                                             • No data is available on the measures taken to ensure sample
                                                                                                                security.
                                                                                                             KANTIENPAN
                                                                                                             • No data is available on the measures taken to ensure sample
                                                                                                               security.
                                                                                                             BOKSPUTS
                                                                                                             • No data is available on the measures taken to ensure sample
                                                                                                               security.
Audits or reviews        •   The results of any audits or reviews of sampling techniques and data.           JACOMYNSPAN
                                                                                                             • The CP considers that the exploration work conducted by ANHL
                                                                                                               was carried out using appropriate techniques for the style of
                                                                                                               mineralisation at Jacomynspan.
                                                                                                             • Data were reviewed by MSA as part of the resource estimation
                                                                                                             KIELDER
                                                                                                             • No audits or reviews is known to have been carried out.
                                                                                                             KANTIENPAN
                                                                                                             • No audits or reviews is known to have been carried out.
                                                                                                             BOKSPUTS
                                                                                                             • No audits or reviews is known to have been carried out.




                                                                                                                                                                             
Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria                       JORC Code explanation                                                              Commentary
Mineral tenement and           • Type, reference name/number, location and ownership including                    JACOMYNSPAN
land tenure status                agreements or material issues with third parties such as joint ventures,        • The farms Hartebeestpan 175 and Optel 261 have overlapping
                                  partnerships, overriding royalties, native title interests, historical sites,     rights (in respect of differing minerals) held by two companies.
                                  wilderness or national park and environmental settings.                         • Namaqua Nickel Mining (Pty) Ltd (Namaqua) holds mining right NC
                               • The security of the tenure held at the time of reporting along with any known      30/5/1/2/2/10032MR (over Plaas No. 387: the farm Hartebeest Pan
                                  impediments to obtaining a licence to operate in the area.                        175 (Portion RE5), Jacomyns Pan 176 (Portion RE1), Rok Optel 261
                                                                                                                    (Portion RE1, Portion RE2, Portion RE3) for the mining of Nickel,
                                                                                                                    Copper, Cobalt, PGM and Gold. This right was granted on 19
                                                                                                                    September 2016 subject to certain conditions, which include local
                                                                                                                    community participation and financial guarantees, but is not yet
                                                                                                                    executed.
                                                                                                                  • Disawell (Pty) Ltd (Disawell) holds two prospecting rights namely NC
                                                                                                                    30/5/1/1/2/11010 PR over Jacomyns Pan 176 (Portion RE, Portion 1,
                                                                                                                    Portion 2); Rok Optel 261 (RE, Portion 1, Portion 2, Portion 3); Rooi Puts
                                                                                                                    172 (Portion 2, Portion 3, Portion 4) and NC 30/5/1/1/2/10938 PR over
                                                                                                                    Hartebeest Pan 175 (RE, Portion 3, Portion 4, Portion 5) and Farm 387,
                                                                                                                    each for the prospecting of Zinc, Lead and Sulphur.
                                                                                                                  • Disawell and Namaqua entered into an earn-in agreement with
                                                                                                                    Orion Minerals Ltd (Orion or Company), in terms of which Orion
                                                                                                                    (through its subsidiary, Area Metals Holdings No. 3 (Pty) Ltd (AMH3))
                                                                                                                    is granted the right to invest in these companies. Since finalising the
                                                                                                                    earn-in agreement, AMH3 has advanced exploration programs on
                                                                                                                    the Jacomynspan Project, with expenditure held in a shareholder
                                                                                                                    loan account and AMH3 having reached an earn-in right stage. This
                                                                                                                    will see its shareholding increase by a further 25% interest (increasing
                                                                                                                    its total interest to 50%). Upon receipt of regulatory approval, AMH3
                                                                                                                    will be issued with the additional shares earned. Orion is the
                                                                                                                    manager and operator of the joint venture.
                                                                                                                  • Orion has entered into an agreement whereby it will acquire the
                                                                                                                    remaining minority interests in the Jacomynspan Project held by
                                                                                                                    Namaqua and Disawell shareholders. The agreement is subject to
                                                                                                                    suspensive conditions, undertakings, warranties and terms and
                                                                                                                    conditions as would be standard and customary to include in
                                                                                                                    transactions of this nature (refer ASX release 13 July 2020).
                                                                                                                  • No historical or environmental impediments to obtaining an
                                                                                                                    operating licence are known.
                                                                                                                  KIELDER
                                                                                                                  • PCZM, formerly Repli Trading No 27 (Pty) Ltd, holds the prospecting
                                                                                                                     rights, namely NC 30/5/1/2/11840, over Dooniespan 106 Portion 3
                                                                                                                     for the prospecting of Copper, Zinc, Lead, Gold, Silver, Cobalt,
                                                                                                                     Sulphur in pyrite, Barytes, Limestone, Sulphur and Molybdenum.




                                                                                                                                                                                      
Criteria                  JORC Code explanation                                                                   Commentary
                                                                                                                  • No historical or environmental impediments to obtaining an
                                                                                                                    operating licence are known.
                                                                                                                  KANTIENPAN and BOKSPUTS
                                                                                                                  • The mineral rights to the property are vested in the State and the
                                                                                                                    Act regulates the exploration and mining industry in South Africa.
                                                                                                                    A prospecting right in accordance with the Act was granted to
                                                                                                                    Masiqhame Trading 855 (Masiqhame) to prospect for a period of
                                                                                                                    five years effective from 12 March 2014.
                                                                                                                  • The Prospecting Right was granted in respect of the farm
                                                                                                                    Koegrabe 117 comprising Remainder, Portions 2 – 11; Boksputs 118
                                                                                                                    Remainder, Portions 1, 7, 8, 9, 10; Kantien Pan 119 Remainder,
                                                                                                                    Portions 1 and 2; Wan Wyks Pan Remainder, Portions 1 – 5; and
                                                                                                                    Zonderpan Remainder Portions 1, 5, 6, 7, 8 situated in the
                                                                                                                    Magisterial/ Administrative District of Kenhardt, Northern Cape
                                                                                                                    Province. The total area measures 98435.8548 Ha in extent.
                                                                                                                  • An application for renewal of the Prospecting Right was submitted
                                                                                                                    in December 2018. Granting of the Renewal is pending.
Exploration   done   by   •   Acknowledgment and appraisal of exploration by other parties.                       JACOMYNSPAN
other parties                                                                                                     • AAC (1971-1973 and 1982), Anglo Vaal (1970-1972), Gencor (1990-
                                                                                                                    1991) and Alenti (2008) have all conducted exploration drilling
                                                                                                                    programs in the Jacomynspan project area.
                                                                                                                  • Gold Fields of South Africa (GFSA) drilled three deflections from
                                                                                                                    AAC holes in 1993.
                                                                                                                  KIELDER
                                                                                                                  • On Dooniespan 206 Portion 3 exploration has been undertaken by
                                                                                                                    Newmont SA during the late 1970’s to early 1980’s. Only part of the
                                                                                                                    data is available. 29 diamond drill holes were drilled on four
                                                                                                                    prospects. Geological mapping, IP, gravity and EM surveys were
                                                                                                                    conducted over selected areas. Soil sampling were conducted on
                                                                                                                    a regional grid with follow-up detail surveys over selected areas.
                                                                                                                    Prieska Copper Mines evaluated the Newmont data and did a high
                                                                                                                    level economic appraisal.
                                                                                                                  KANTIENPAN
                                                                                                                  • Various companies explored the area in the past.
                                                                                                                  • JCI drilled 11 drill holes on the Kantienpan Deposit in 1978 - 1979. This
                                                                                                                    data is not available to the Company.
                                                                                                                  • Iscor drilled 13 diamond drill holes on the prospect during the late
                                                                                                                    1990’s and carried out geophysical and surface geochemical
                                                                                                                    surveys.
                                                                                                                 BOKSPUTS
                                                                                                                  • Anglo American Corporation explored the property from 1973 to
                                                                                                                    1976. They carried out airborne EM, ground geophysical and



                                                                                                                                                                 
Criteria                 JORC Code explanation                                                                   Commentary
                                                                                                                 surface geochemical surveys and drilled 12 diamond drill holes.
                                                                                                                 Shell Minerals explored the property from 1976 to 1978 and drilled
                                                                                                                 13 diamond drill holes.
Geology                  •   Deposit type, geological setting and style of mineralisation.                       JACOMYNSPAN
                                                                                                                 • The Jacomynspan mineralisation is contained within portions of a
                                                                                                                   steeply dipping metamorphosed mafic to ultramafic intrusion
                                                                                                                   several tens of metres thick containing nickel-copper sulphides. The
                                                                                                                   intrusion consists predominantly of pyroxenite and harzburgite. The
                                                                                                                   intrusion is enclosed within quartz-feldspar-biotite-garnet gneiss
                                                                                                                   country rocks and is locally interfingered with late-orogenic granite.
                                                                                                                 KIELDER
                                                                                                                 • The Kielder mineralisation occurs as stratabound massive sulphide
                                                                                                                   lenses within a folded sequence of granulite grade quartzo-
                                                                                                                   feldspathic gneiss, basic granulite and amphibolite. Three massive
                                                                                                                   sulphide lenses consisting of pyrite pyhrrotite, sphalerite,
                                                                                                                   chalcopyrite, and galena with gangue minerals consisting of
                                                                                                                   baryte, chlorite, phlogopite, apatite, tourmaline and quartz is
                                                                                                                   known to exist on the property. The mineralisation is classified as
                                                                                                                   volcanogenic massive sulphide type deposits.
                                                                                                                KANTIENPAN
                                                                                                                 • The mineralisation at Kantienpan is hosted in massive sulphide
                                                                                                                   lenses consisting mainly of pyrrhotite, sphalerite, chalcopyrite and
                                                                                                                   pyrite. Gangue minerals consist of quartz and chlorite. True width of
                                                                                                                   the sulphide zone varies from <1m to 13m.
                                                                                                                 • The deposit is classified as a volcanogenic massive sulphide
                                                                                                                   deposit.
                                                                                                                 • Wall rocks are dominated by biotite gneiss of dacitic composition,
                                                                                                                   calc-silicate rocks and amphibolite
                                                                                                                BOKSPUTS
                                                                                                                 • The Boksputs Copper mineralisation is classified as a VMS style
                                                                                                                 deposit.
                                                                                                                 • Mineralisation discovered to date occur as disseminations of pyrite,
                                                                                                                   chalcopyrite and sphalerite within chloritized amphibolite.
                                                                                                                 • Biotite-amphibole gneiss makes up the bulk of the stratigraphic
                                                                                                                   succession.
Drill hole Information   •   A summary of all information material to the understanding of the                   • Table 3 and 4 lists all the historical intersections and drilling data at
                             exploration results including a tabulation of the following information for all       Kielder and Kantienpan.
                             Material drill holes:
                             o easting and northing of the drill hole collar
                             o elevation or RL (Reduced Level – elevation above sea level in metres) of
                                the drill hole collar
                             o dip and azimuth of the hole



                                                                                                                                                                                  
Criteria                   JORC Code explanation                                                                   Commentary
                             o down hole length and interception depth
                             o hole length.
                           • If the exclusion of this information is justified on the basis that the information
                             is not Material and this exclusion does not detract from the understanding of
                             the report, the Competent Person should clearly explain why this is the case.
Data        aggregation    • In reporting Exploration Results, weighting averaging techniques, maximum             JACOMYNSPAN
methods                      and/or minimum grade truncations (e.g. cutting of high grades) and cut-off            • Averaging was done weighting the assays by sample length and
                             grades are usually Material and should be stated.                                       density.
                           • Where aggregate intercepts incorporate short lengths of high grade results            • A 0.3% Ni cut-off was use. No maximum cut-off was applied. Internal
                             and longer lengths of low grade results, the procedure used for such                    dilution was included in the intersections.
                             aggregation should be stated and some typical examples of such
                                                                                                                   KIELDER
                             aggregations should be shown in detail.
                                                                                                                   • Average was done weighting the samples by sample length.
                           • The assumptions used for any reporting of metal equivalent values should be
                                                                                                                      Density values are not available.
                             clearly stated.
                                                                                                                   • A 1% Zn cut-off was applied.
                                                                                                                   KANTIENPAN
                                                                                                                   • Average was done weighting the samples by sample length.
                                                                                                                     Density values are not available.
                                                                                                                   • For the quoted intersections a cut-off value of 0.3% Zn was applied.
                                                                                                                   BOKSPUTS
                                                                                                                   • No data is available on cut-off grades, weighting of samples or
                                                                                                                     other aggregation methods. The intersections quoted is from
                                                                                                                     published data and an internal report from Shell Minerals.
Relationship    between    •   These relationships are particularly important in the reporting of Exploration      JACOMYNSPAN, KIELDER, KANTIENPAN AND BOKSPUTS
mineralisation    widths       Results.                                                                            • All drill holes were inclined as to intersect the mineralised horizons as
and intercept lengths      •   If the geometry of the mineralisation with respect to the drill hole angle is         close to 900 as possible and the intersection width as close to the
                               known, its nature should be reported.                                                 true width as possible.
                           •   If it is not known and only the down hole lengths are reported, there should        • Where down hole lengths are reported it is stated in the report.
                               be a clear statement to this effect (e.g. ‘down hole length, true width not
                               known’).
Diagrams                   •   Appropriate maps and sections (with scales) and tabulations of intercepts           • Not material for this report. Plans with drill hole collars are provided
                               should be included for any significant discovery being reported. These                within the text. Intercepts reported for the first time are tabulated in
                               should include, but not be limited to a plan view of drill hole collar locations      Table 3.
                               and appropriate sectional views.
Balanced reporting         •   Where comprehensive reporting of all Exploration Results is not practicable,        JACOMYNSPAN, KIELDER, KANTIENPAN AND BOKSPUTS
                               representative reporting of both low and high grades and/or widths should           • In the Competent Person’s view, the historic drill results and the
                               be practiced to avoid misleading reporting of Exploration Results.                    geophysical targets are presented in a balanced manner for the
                                                                                                                     purpose of this Public Report.
Other        substantive   •   Other exploration data, if meaningful and material, should be reported              JACOMYNSPAN, KIELDER, KANTIENPAN AND BOKSPUTS
exploration data               including (but not limited to): geological observations; geophysical survey         • Extensive geology mapping, geochemical sampling, and airborne
                               results; geochemical survey results; bulk samples – size and method of                and ground geophysical programmes were undertaken by
                               treatment; metallurgical test results; bulk density, groundwater, geotechnical        previous explorers, using the equipment and methods available at




                                                                                                                                                                                      
Criteria       JORC Code explanation                                                                               Commentary
                 and rock characteristics; potential deleterious or contaminating substances.                       that time. These geophysical data are not all available, and mainly
                                                                                                                    comprises plans without the back-up information to verify the data
                                                                                                                    validity. The new geophysical exploration, using modern
                                                                                                                    technology, supersedes all previous geophysics. The geology
                                                                                                                    mapping remains valid and has been digitally captured. The
                                                                                                                    geochemical data have been captured from the original plans
                                                                                                                    and used where appropriate.
                                                                                                                  • In 2017 and 2018 Orion undertook a regional SkyTEMTM geophysical
                                                                                                                    survey and ground EM surveys over selected SkyTEMTM anomalies.
                                                                                                                    The results are reported in ASX releases 1 February 2018 and 8 March
                                                                                                                    2018. Interpretation of the results is ongoing.
                                                                                                                  • Ground EM surveys are underway.
Further work   •   The nature and scale of planned further work (e.g. tests for lateral extensions                  JACOMYNSPAN, KIELDER, KANTIENPAN AND BOKSPUTS
                   or depth extensions or large-scale step-out drilling).                                         • Drilling to as proposed in this public report will be the next step.
               •   Diagrams clearly highlighting the areas of possible extensions, including the
                   main geological interpretations and future drilling areas, provided this
                   information is not commercially sensitive.




                                                                                                                                                                        

Date: 20-10-2020 10:35:00
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