Orion Minerals Limited · ASX:ORN
Orion Minerals — Orion Gold NL — Technical Presentation (March 2015)
44 slides from Orion Minerals's technical presentation, March 2015
Slide 1: Connors Arc Project, Queensland Technical Briefing & Update
ASX Code: ORN Connors Arc Project, Queensland Technical Briefing & Update • Intermediate Sulphidation epithermal gold-silver system • Emerging porphyry potential March 2015 1
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements • Certain statements contained in this presentation, including information as to the future financial or operating performance of Orion Gold NL and its projects, are forward-looking statements. Such forward-looking statements: • are necessarily based upon a
Slide 3: Orion: Corporate Summary
Orion: Corporate Summary Capital Structure Summary Board & Management Shares on Issue 306M Denis Waddell Chairman Options on Issue 89M CEO, Managing Market Capitalisation (at 4cps) $12M Errol Smart Director Cash on Hand (as at 31 Dec ’14) $1.1M Bill Oliver Technical Director Significant Holder Name
Slide 4: Connors Arc Project
Connors Arc Project • 2000km2 contiguous tenement applications granted and under application • Allows for district scale targeting of Magmatic Arc Mineralisation • Extends approximately 100km north from Mt Mackenzie, a well known high sulphidation epithermal deposit. • Several historic occurrences n
Slide 5: Connors Arc Project
Connors Arc Project • Preliminary ORN work recognised that an extensive, shallow in system, Intermediate Sulphidation (“IS”) epithermal vein system was developed approximately 8km north of the known Mt Mackenzie High Sulphidation Deposit (refer ASX Release 8 September 2014) • Limited historic explor
Slide 6: Magmatic Arc Related Deposit Styles
Magmatic Arc Related Deposit Styles Corbett 2004 6
Slide 7: Magmatic Arc Au-Ag and Au-Cu Deposits
Magmatic Arc Au-Ag and Au-Cu Deposits Corbett (2004) 7
Slide 8: Epithermal Systems – Deposit Models
Epithermal Systems – Deposit Models MAGMATIC MAGMATIC-METEORIC METEORIC 1 1 1 2 2 2 3 3 3 4 4 4 km km km ? Veins textures: restricted diverse, modest diverse, spectacular HIGH SULFIDATION INTERMEDIATE SULFIDATION LOW SULFIDATION Au-Cu-Ag Au-Ag White 2012 8
Slide 9: Porphyry Intrusive - Deposit Models & Alteration Zonation
Porphyry Intrusive - Deposit Models & Alteration Zonation Holiday and Cooke 2008 9
Slide 10: Important Analogues For Guidance
Important Analogues For Guidance • Lepanto (Philippines) • Porphyry Intrusives + High, Intermediate and Low Sulphidation Epithermal Deposits • Pachuca (Mexico) • Intermediate Sulphidation • Cracow (Queensland Australia) • Low Sulphidation • Similar age and setting • Pajingo (Queensland Australia) •
Slide 11: Lepanto – District Scale Analogy
Lepanto – District Scale Analogy 3.8Mtons Cu + >550tons Au VEIPS Cooke & Gemmel 2010 11
Slide 12: Lepanto, Philippines IS + LS Veins and Porphyry Orebodies
Lepanto, Philippines IS + LS Veins and Porphyry Orebodies Lepanto Consolidated Mining Company 2015 www.lepantomining.com 12
Slide 13: Initial Focus On IS + LS Epithermal Deposits on Connors Arc
Initial Focus On IS + LS Epithermal Deposits on Connors Arc • They can be GIANT Au + Ag deposits • Predominantly vein hosted – Mineralised veins commonly 1- 25m wide – Can have spectacular Au + Ag values – Can have high Au together with Ag >>> Au values – Precious metal deposition sensitive to press
Slide 14: Pachuca, Mexico
Pachuca, Mexico IS vein and fault pattern 45,000 t Ag, 220 t Au 4 km Simmons et al., 2005 after Geyne et al., 1963 14
Slide 15: Pachuca, Mexico
Pachuca, Mexico Cross & Long Sections Drier, 1982 Geyne et al., 1963 500 m CLAY IL-S ADULARIA 15
Slide 16: Pachuca, Mexico
Pachuca, Mexico • Over 450 veins discovered • Very few veins have grade at surface • Dramatically varying depths to top of ore • this related to rapid deposition and erosion of volcanic land surface during and post deposition Simmons et al 2005 after Geynes et al 1963 Surface Ore Interval Base of wo
Slide 17: Cracow Gold Mine, Queensland LS Au - Ag
Cracow Gold Mine, Queensland LS Au - Ag Evolution Mining 2013 17
Slide 18: Cracow Grade Distribution - Important Observations
Cracow Grade Distribution - Important Observations • Rapid and dramatic grade variation • Highest grades often, but not always in widest vein Creenaune P, Braund K, McLeod R 2003 - The Cracow gold project, Cracow, Queensland, a discovery case history 18
Slide 19: Royal Shoot, Cracow
Royal Shoot, Cracow KDD124 19m @ 11 KDD021 38m @ 16 KDD157 5.5m @ 12 KDD007 12m @ 7.4 ROYAL SHOOT 1.1Mt @ 11g/t Au Creenaune P, Braund K, McLeod R 2003 – 390,000oz Au The Cracow gold project, Cracow, Queensland, a discovery case history CRACOW - KLONDYKE LONGSECTION (2002) 19
Slide 20: Royal Shoot – Au Grade vs Vein Width
Royal Shoot – Au Grade vs Vein Width Creenaune P, Braund K, McLeod R 2003 – The Cracow gold project, Cracow, Queensland 4400 mN 4500 mN 4600 mN 4700 mN 4800 mN 4900 mN 5000 mN 5100 mN 5200 mN 5300 mN 5400 mN Royal Standard Klondyke (3,400oz Au) 2300 mRL (84oz Au) ROYAL SHOOT Inferred Resource 390,00
Slide 21: Klondyke, Cracow
Klondyke, Cracow Dramatic transition from trace to bonanza values Grade in Vein and Vein Breccias Cracow -Beadell Resources 2008 21
Slide 22: Pajingo, Queensland
Pajingo, Queensland Amorphous Shoots – Within a Restricted Vertical Interval NANCY NORTH NANCY VERA NORTH VERA VERA SOUTH 1 000 RL 1000 RL V1 V2 LEGEND Current development Proposed development Surface Drillhole Vein Intercept 500 RL Underground Drillhole Vein Intercept 500 RL >15 g x m Au SECTION A
Slide 23: Important Lessons from analogues
Important Lessons from analogues • The surface exposure only provides a clue as to what lies below • Veining on surface is a useful guide & traces the trend line to follow • Ore shoots are likely “blind to surface” • Ore shoots at depth may not be directly below best zones on surface • Grade transit
Slide 24: Important LS / IS Epithermal Vein Guides
Important LS / IS Epithermal Vein Guides Alteration, Vein Textures & Vein Mineralogy 24
Slide 25: Mineral Stability
Mineral Stability Temperature oC Mineral 100 200 300 Mineral Stability pH Alunite Jarosite Mineral assemblages Halloysite Kaolinite allow us to estimate temperature and acidity A c i di c Dickite Pyrophyllite Diaspore Sinter Zunyite, topaz lithostatic Anatase Rutile 200 Cristobalite Quartz Pyrite Ma
Slide 26: How we accurately identify the mineralogy
How we accurately identify the mineralogy illite Short Wave Infrared Radiation “SWIR” spectra can be used to • identify alteration minerals Na-alunite • determine their crystallinity K-alunite • estimate chemical variations pyrophyllite Measurements are fast and cheap Suitable for large surveys dias
Slide 27: Not all veins in a system will be mineralised
Vein Texture - a very useful visual indicator Not all veins in a system will be mineralised – strongly textured veins tend to be more productive – look for finely banded, coloform, crustiform, concentric banding – veins are often complex and brecciated 27
Slide 28: Connors Arc Project
Connors Arc Project • Orion Gold has assembled a large 100% owned tenement position • The tenements are situated on the ca 300Ma Connors Magmatic Arc • A number of historic vein showings occur on the ORN tenements 28
Slide 29: Rapid Project Progress Early Successes
Rapid Project Progress Early Successes • Dec 2013 ~ first tenement granted subject to surface access agreements • Extensive Intermediate • July 2014 ~ Native Title agreement Sulphidation Au-Ag vein • Aug 2014 ~ Mapping Commences system confirmed • Nov 2014 ~ Landowner Agreement signed • Nov - Dec 20
Slide 30: Connors Arc – Getting Started
Connors Arc – Getting Started • Areas marked in purple denote initial work area • We have only covered / mapped a very small part of our landholding 30
Slide 31: Getting Started
Getting Started • Initial work focussed on prospecting drainage basins (blue areas) to locate epithermal quartz veining (red) • Extensive quartz veining has been discovered and mapped • This appears to be a BIG epithermal system 31
Slide 32: Phase One Epithermal Exploration
Phase One Epithermal Exploration Mapping Geophysics / Remote Scout Drilling sensing • Establish baseline data • Host stratigraphy - certain rock • Tracing epithermal • IP Survey types present more favourable veins from creeks up • High Resistivity could assist in hosts than others into hills locatin
Slide 33: Aurora Flats (AF) – Veinglorious (VG) Prospects
Aurora Flats (AF) – Veinglorious (VG) Prospects • Started at known veins on Aurora Flats and traced along trend for about 11km • Veinglorious is a virgin discovery • Rare to find such prominent veining and high precious metal grades on surface that was not previously recorded and has had no apparent
Slide 34: Initial Aurora Flats Geophysics and Drilling
Initial Aurora Flats Geophysics and Drilling Mapped veins, IP lines and drill collars Mapped veins drill hole traces 3A 3 2 34
Slide 35: Initial Aurora Flats Epithermal Target Drilling
Initial Aurora Flats Epithermal Target Drilling Roughly Midway along Aurora Down dip below historic drilling Flats IS Epithermal Vein Trend • Elevated precious metal values • Wide corridor of epithermal veining intersected in drill fence line • Mineralised interval improving with (refer ASX Release
Slide 36: Positive Indicators From Aurora Flats Drilling
Positive Indicators From Aurora Flats Drilling Superb fine concentric and The Right Mineralogy colloform banding textures • Quartz, Adularia, Illite, pyrite 36
Slide 37: Interpreting Initial Aurora Flats Drilling
Interpreting Initial Aurora Flats Drilling Postulated similarity to upper plunge extent of Cracow Royal Shoot • Widening vein with low metal values 4400 mN 4500 mN 4600 mN 4700 mN 4800 mN 4900 mN 5000 mN 5100 mN 5200 mN 5300 mN 5400 mN Royal Standard Klondyke (3,400oz Au) 2300 mRL (84oz Au) 2200 mRL
Slide 38: Geochemistry and SWIR being used for vectoring
Geochemistry and SWIR being used for vectoring Te, W, Mo, Pb, Zn are important Short Wave Infra Red Scans (SWIR) are indicator elements in fertile veins and being used to give accurate depth are being used to assist with vectoring indication based in mineral composition • All drilling data currently
Slide 39: Alert For Porphyry Potential
Alert For Porphyry Potential Drilling has intersected widespread alteration consistent with Porphyry Intrusives • Wide zones of pyritic, epidote, albite, propylitic alteration Sulphidic porphyry with sulphide veins AFRCD012 • Zones of haematite, epidote alteration indicative of fertile, alkalic Au-C
Slide 40: Porphyry-style Alteration and quartz, sulphide veining intersected in drilling
Porphyry-style Alteration and quartz, sulphide veining intersected in drilling Thursday Gossan Porphyry Aurora Flats (Stavely Minerals ) (Orion Gold) 40
Slide 41: Alert For Intrusive Porphyry Related Mineralisation
Alert For Intrusive Porphyry Related Mineralisation IP shows large, blind chargeability Magnetic inversion features modelled anomalies IP Chargeability anomalies line 2 (top) and 3A (below) Location shown on slide 34 (refer ASX Release 21 November 2014) 41
Slide 42: Planned Work Program 2015
Planned Work Program 2015 Epithermal Targets Porphyry Targets • Systematic vectoring in using • Map out alteration zonation geochemistry and alteration • S isotope geochemistry to mineralogy confirm magmatic sulphides • Drilling stepping in to high grade • Geo-stratigraphic drill testing of zones so
Slide 43: Competent Persons Statement
Competent Persons Statement Information in this report that relates to Exploration Results and other technical information about the Connors Arc Project complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC Code”) and
Slide 44: Orion Gold NL – In situ Mineral Resources at June 2012
Orion Gold Orion Gold NL – In situ Mineral Resources at 30 June 2012 Deposit Cut-off Measured Indicated Inferred Total Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Tonnes Au g/t Ounces Au Tubal Cain 4 --- --- 177,000 7.7 680,000 10.5 857,000 9.9 273,400 Eureka 4 --- --- 36,000 13.9 117,000 8.8 1