- NEW TANAMI TENEMENT ACQUISITIONS FACILITATE EXPANDED EXPLORATION PROGRAM
- FIELD WORK TO START AS EARLY AS MAY, WITH DRILLING TO COMMENCE BY JUNE 2011
- WITH MORE THAN 600 SQ Km2 IN THE TANAMI, ORION HAS ENHANCED ITS HEAVY RARE EARTH ELEMENTS (HREE) & GOLD PROJECT
April 5, 2011 (Source: Orion Metals) — Orion Metals (ASX:ORM) is pleased to announce that following its recent tenement acquisitions and pleasing Killi Killi December drill results, the company will be fast-tracking its exploration and drilling program.
Previously scheduled for May and August – field work, rock chip and soil sampling will now be undertaken in May and drilling will commence by June 2011 weather permitting.
The significant findings of a new REE – Au mineralisation style, from our drill results in the region late last year, together with a review of previous exploration reports, reinforces Orion’s strategy to move quickly and with confidence to secure and evaluate additional ground in the Tanami.
By completing our drilling program at the first opportunity, new information will allow us to tactically plan for more extensive follow-up drilling in August/ September, thereby avoiding the annual wet season and delivering results to the market sooner.
The cost of the first phase of the 2011 field work and drilling program is approximately $500,000 and will include high resolution magnetic and radiometric airborne surveys.
Orion now boasts a substantial holding in a desirable and highly prospective location for significant HREE/gold occurrences. We remain focussed on our exploration strategy and project building initiatives in the Killi Killi region.