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ASX / JSE RELEASE : 29 July 2021 Orion Minerals June 2021 Quarterly Activities Report HIGHLIGHTS Negotiations with potential project financiers for the Company's flagship Prieska Copper - Zinc Project are progressing well , with term sheets expected in the coming months . Project execution preparatory work streams for the Prieska Project are advanced including : Preparation and negotiation of key supply contracts ( including EPCM candidate contractors , bulk power supply and mine operating contractors ) ; о Ongoing preparation of project management systems ( including compilation of the Project Charter and defining the Owner's team requirements ) ; and Formulating plans to commence mine dewatering , a critical path item , ahead of full - scale project construction approval . Due diligence investigations were progressed to support Orion's proposed acquisition of controlling ownership of the Okiep Copper Project ( OCP ) , an extensive historical copper mining complex located 570km north of Cape Town . This transaction will complement the development - ready Prieska Copper- Zinc Project and marks a major step towards Orion realising its ambition of becoming a major new long - term supplier of ' green ' metals to fuel the global energy transformation . Positive Scoping Study for the OCP completed , confirming the potential for early cash - flow and ‘ proof- of - concept ' copper production , with results from the study confirming : О Okiep - style deposits have the potential to be mined at low cost by both open pit and underground mining methods ; ○ Potential exists to rapidly advance the project to production , with critical permitting processes already underway ; O A proof - of - concept ' - scale operation requiring low upfront capital investment can provide commercially attractive returns and early cash flows ; and о Potential exists for significant operational synergies with the fully - permitted Prieska Copper - Zinc Project , also located in the Northern Cape Province , which now awaits funding before mine construction commences . Memorandum of Understanding ( MOU ) signed with South Africa's Council for Geoscience ( CGS ) to collaborate on exploration initiatives to advance the geological understanding of South Africa's Northern Cape . First collaboration under Orion / CGS agreement is a 1,827km² regional SkyTEMTM Survey targeting copper sulphide mineralisation hosted in mafic intrusive bodies , with a high - priority focus on the OCP area . This survey commenced in June 2021 . Orion secured the grant of the Boksputs North Prospecting Right , with drilling now underway to test a highly - conductive EM anomaly that straddles the boundary between Orion's Masiqhame Prospecting Right and the newly - granted Boksputs North Prospecting Right . IGO progresses exploration in the Fraser Range , WA with the completion of a high temperature Squid moving loop EM survey to assist with prioritising targets for diamond drilling in the September Quarter . Four targets are scheduled to be drilled . Orion Minerals Limited Incorporated in the Commonwealth of Australia Suite 617 , 530 Little Collins Street , Melbourne , Victoria 3000 ACN : 098 939 274 Ordinary shares on issue : 4,317m | Options on issue : 234m www.orionminerals.com.au ASX Code : ORN JSE Code : ORN ISIN : AU0000000RN1