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ASX / JSE RELEASE : 28 October 2021 Orion Minerals September 2021 Quarterly Activities Report HIGHLIGHTS DEVELOPMENT Project funding discussions continued for the fully - permitted Prieska Copper - Zinc Project in South Africa's Northern Cape , with the Independent Technical Review of the updated Bankable Feasibility Study nearing completion . Orion exercised its option to acquire a controlling interest in several properties within the Okiep Copper Project ( OCP ) , also in the Northern Cape region . A separate option was exercised to acquire +60 years of mining and exploration records and data held by the O'Okiep Copper Company . The OCP acquisition was restructured with Orion directly acquiring the mineral rights and other assets held by Southern African Tantalum Mining ( Pty ) Ltd ( SAFTA ) , Nababeep Copper Company ( Pty ) Ltd ( NCC ) and Bulletrap Copper Co ( Pty ) Ltd ( BCC ) , rather than the entities themselves . South Africa's Industrial Development Corporation ( IDC ) signalled its intention to become a key strategic partner with Orion in the development of the New Okiep Mining Company ( a subsidiary of Orion ) and the OCP . EXPLORATION High - priority exploration targets were identified along the Koperberg - Carolusberg line at the OCP , to be validated with twin and in - fill drilling ahead of the estimation of Mineral Resources . A 1,872km² high - powered SkyTEM ™ airborne electromagnetic ( EM ) survey was successfully completed over the OCP with 7,348 line - kms flown , covering 26 historical copper mines and approximately 150 known copper prospects . Sixteen ‘ late - time ' EM targets were detected from an initial review of the data with several conductors identified close to known copper deposits . These targets will now be prioritised and refined with ground - based EM surveys to finalise drilling targets . Subsequent to Quarter - end , diamond drilling at Orion's Masiqhame Prospecting Right has intersected sulphide mineralisation up - dip of a high - priority EM target at the Boksputs Prospect , with drilling of a follow - up wedge hole now underway vectoring towards increasing sulphide content . Orion's Managing Director and CEO , Errol Smart , said : " The September Quarter marked another very busy and productive quarter as we took further important steps towards our goal of becoming a major diversified base metals producer in the Northern Cape Province , ready to supply critical metals for the impending global energy transformation . " Just six months after making headlines in South Africa by securing an exclusive option to secure a controlling interest in the world - class Okiep copper district , we formally exercised our option to acquire the asset under a restructured arrangement which saw us acquire the mineral rights directly rather than the corporate entities originally subject to the agreement . We simultaneously exercised the option to acquire the vast mining and exploration database which we negotiated earlier this year . 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 : 4,321m | Options on issue : 232m www.orionminerals.com.au ASX Code : ORN JSE Code : ORN ISIN : AU0000000RN1