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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.