Orion Gold NL
Price Icon ASX Share Price: $0.020 (delayed)
Link to ASX share information (Google Finance ORN)

Victoria - Walhalla

Victoria - Walhalla

Walhalla Gold & Polymetals Projects ~ Victoria

Walhalla Background

The Walhalla-Woods Point District is most widely known as one of Victoria’s largest historical goldfields, with significant past production exceeding 4 million ounces of gold at a reported head grade of over 25g/t gold. 

However while the Walhalla-Woods Point District is best known for gold mining, high-grade copper-nickel and Platinum Group Element (PGE) mineralisation also occurs within the belt.

In August 2014, Orion entered into an option agreement with A1 Consolidated Gold Limited (A1 Gold) for A1 Gold to acquire the Company’s Walhalla Project tenements. Orion will retain the rights to explore for, develop and mine all deposits which are 67% or greater intrusive hosted sulphide minerals, including copper, nickel and PGE’s with subordinate gold and silver. Further details regarding the Option Agreement with A1 Gold can be found in the Company’s ASX Announcement.

Both the gold and copper-nickel-PGE mineralisation within this district is hosted within dykes from the Woods Point Dyke Swarm (WPDS), a series of ultramafic to felsic dykes occurring over a 75km long north-south belt which are now interpreted to be the “plumbing” for a magmatic system of significant scale.

Five key Cu-Ni-PGE occurrences are known within the WDPS and three of these lie within Orion’s tenement package. Despite these occurrences being known, sampled and, in the case of Coopers Creek, previously mined there has been only been sporadic exploration for polymetallic deposits (mostly in the 1970’s & 1980’s).

Drilling conducted by Orion at the key Coopers Creek Polymetallic Prospect during 2014 confirmed the presence of PGE mineralisation, with results >0.5% Cu of:

  • 7.5m at 0.63% Cu, 0.54g/t Pt and 0.93g/t Pd from 21.5m (OCC003);
  • 4.5m at 0.92% Cu, 0,81g/t Pt and 1.31g/t Pd from 34.0m (OCC003);
  • 7.1m at 0.61% Cu, 0.42g/t Pt and 0.78g/t Pd from 187.9m (OCC003);
  • 5.6m at 0.69% Cu, 0.45g/t Pt and 0.79g/t Pd from 201.4m (OCC003);
    • including: 1.6m at 0.95% Cu, 0.66g/t Pt and 1.16g/t Pd  from 201.4m;
    • within a broader intersection of 24m at 0.49% Cu, 0.12g/t Au,
      0.33g/t Pt and 0.58g/t Pd from 184m.
  • 2m at 1.17% Cu, 0.65g/t Pt and 1.03g/t Pd from 22.5m (OCC001);
  • within a broader intersection of 31.2m at 0.27% Cu, 0.17g/t Pt and 0.29g/t Pd from 1.5m.

Significantly, assay and downhole EM results indicate the presence of two styles of sulphide mineralisation within the host dyke:

  • Disseminated sulphide Cu-PGE mineralisation located along the footwall (western) margin of the dyke, representing ‘bulk style’ lower grade mineralisation that may have continuity along the strike of the dyke;
  • Pods and lenses of higher grade Cu-PGE-Ni mineralisation resulting from gravity accumulation of sulphides within undulations in the basal contact and suitable trap-site(s) in the dyke.

Both styles of mineralisation will be considered in the planning and design of further exploration work at the Coopers Creek prospect.

In addition, there are a number of other prospects within the Walhalla Project with potential to host similar mineralisation. The Company plans to focus on identifying and advancing new prospects within the Project area by mapping, geochemical surveys and ground geophysical methods.

 

For the latest information on the Walhalla Project, please refer to our ASX Announcements