ORM - Orion Metals

[UBIQUITOUS]

Shares - 57,992,636
Options - 17,196,978
Market Cap @ 28c = $21,053,092

KILLI KILLI HILLS REE & Au PROJECT

● FAST TRACKED APPROVAL FOR DRILLING
● DRILLING TO COMMENCE IN OCTOBER

Orion Metals Limited is pleased to announce it has approval to drill up to 37 drill holes at its Killi Killi Hills (KKH) eastern tenement (E80/4029). The approval from the West Australia Department of Minerals and Petroleum is under a Programme of Work (ID 28287).
Orbit Drilling Pty Ltd will undertake the work and is scheduled to commence RC drilling from 20 October 2010.

Assays on RC drilling samples will be completed at the earliest opportunity and subject to further regulatory compliance, equipment reliability and weather. Results from this programme are anticipated for release before the end of 2010. Target areas are previously identified radiometric anomalies where recent rock chip sample assays have indicated high concentrations of HREEs and gold anomalism. For further information see ASX Release 15September 2010.

The Orion board and management are keen to expand in the gold and REE sector and will continue to actively pursue, acquire and develop attractive gold and REE projects. The strong gold price and ongoing shortages and trade restrictions of REEs have validated this strategy, and we are working to identify and develop additional projects. Orion is particularly interested in economic sources of neodymium, praseodymium, dysprosium and terbium as these are key elements for the green economy; forecasted to be in shortage; and are used extensively in wind turbines, hybrid electric vehicles and
high strength magnets.

The initial surface sampling at Killi Killi Hills indicated potential for substantial neodymium and HREEs mineralisation, including dysprosium and terbium within the unconformityconglomerate- sandstone host plus the possibility of a deeper and hopefully a richer “feeder” zone, both of which will be targeted by our drilling programme.

 

[UBIQUITOUS]

• Their cash position and options in the money means that they have enough to cover costs for another 2-3 quarters, so no danger of a capital raising until after the drill results are out.
  
• The Top 20 own about 80% of the stock, and there have been several substantial shareholder notices recently from 2 Chinese mining and investment groups.
  
• 2 directors have also been buying recently at near today's price (25 to 26.5c)
  
• They have 3 REE projects which have reported some high grades of HREEs and are continually adding to their REE portfolio. They also have a gold JV with Newmont.

Note - traders have been all over this so it's not one for the faint hearted who can't handle the intraday swings.

 

[Southern X]

For me ORM is HREE HUGE!

Have a look at the Killi Killi soil/rock chip samples on p.10 of their presentation!

SX

 

[quarky]

19 October 2010

TO: Australian Securities Exchange (“ASX”)

SECTION 708A NOTICE

Orion Metals Limited (“the Company”) hereby provides Notice to the ASX
under section 708A(5)(e) of the Corporations Act 2001 (“the Act”) that the
Company has issued to institutional and sophisticated investors an additional 8,000,000 ordinary shares, each fully paid, without disclosure to investors under Part 6D.2 of the Act, on 19 October 2010. The shares are part of a class of securities quoted on the ASX (code ORM).

As at the date of this Notice the Company has complied with the provisions
of Chapter 2M of the Act as they apply to the Company and w
of the Act.

The Company is not aware of any excluded information for the purposes of
section 708A(6)(e) of the Act as at the date of this Notice.



Bill Lyne
Company Secretary

 

[happytown]

35 hole rc drilling program to commence next week at killi killi to follow up on recent high grade ree rock chip samples

drilling should take approx 2-3 weeks with assay results due early dec

 

[happytown]

rare earths drilling program at killi killi to commence this week

from rock chip sampling (with stunning ree results) to drilling in a couple of months

they also have 3 prospective ree projects in qld - fulford creek, bonnor creek, lestree hill

newmont are also undertaking drilling program at malcolm creek (au) before years end as part of farm-in

 

[happytown]

ann out, initial rare earths drilling program has commenced, expected to be finished in 7-10 days, assay results due early dec

also a larger drilling program to be undertaken early 2011

current program 35 holes rc

 

[Ben1234]

I am eargerly awaiting the Malcolm creek and KilliKilli results. Malcolm Ck results are well overdue. Maybe they will be in the quarterly report due out next week!! Looking at the movement in this share today maybe there is positive news allready out?? Does anyone have info re this?

 

[springhill]

Orion announces high grade REE recorded in Tanami Desert, WA.
http://www.asx.com.au/asxpdf/20120621/pdf/426yvsyzb03tp5.pdf

● High Rare Earth Elements (REE) values recorded in new area
● Significantly enlarging the KK East REE mineralization
● Total 39 rock chips collected – averaged 3,593 ppm REE plus over 858 ppm Neodymium (Nd)
● 21 Drill Holes Planned to test this new 800m REE zone in July

Price spike on the chart is due to a 16cps offer for total control of Orion.
http://www.asx.com.au/asxpdf/20120531/pdf/426l1jdr1c4mj5.pdf

 

[springhill]

KILLI KILLI REE & GOLD PROJECT ROCK CHIP SAMPLES FINAL RESULTS RECEIVED

● Over-range Neodymium (Nd) and Strontium (Sr) analyses boost results from rock chip sampling which significantly extends KK East mineralisation
● Average TREE of 4,730ppm (0.47%) incl. 1,100ppm Nd from 39 rock chip samples
● 21 hole drill program to test the new zone about to commence Orion Metals (ASX:ORM) announces that the final analyses of the rock chip sampling program conducted in the 800 m interval between the two known Killi Killi Number. 1 & 2 Rare Earth Element (REE) Prospects in May have now been received. The prospects are located in the Company’s Killi Killi East tenement (E80/4029) in the Tanami Desert on the Western Australian side of the WA: NT border, 30 kms north east of the Coyote gold mine .
Preliminary laboratory assay results for the 39 rock chip samples were released to the ASX on 21 June. These results excluded over-range values for neodymium (>1,000ppm Nd) and strontium (>10,000ppm Sr) which required further analysis and quantification. The final analyses are now at hand with the effect that the 27 of the 39 samples which contained neodymium values in excess of 1,000ppm, increased the average result from 858ppm Nd to 1,100ppm Nd and the 10 of the 39 samples registering greater than 1% Sr increased the average Sr result from the 7 ,076ppm Sr to 8,137ppm Sr.

A further 8 holes will also be completed at Killi Killi West as part of the exploration programme.

 

[System]

ORM delisted on 17 June 2024.