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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Orion Metals Ltd    ORM   AU000000ORM3

ORION METALS LTD (ORM)
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Orion Metals Ltd : Field assessment commences at Broughton Creek

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05/10/2012 | 03:07am CEST

Orion Metals Limited (ASX:ORM)

71 Lytton Road East Brisbane Qld 4169

GPO Box 122 Brisbane Qld 4001

Phone: 61 7 3249 3060

Fax: 61 7 3249 3061

ABN 89 096 142 737 www.orionmetals.com.au

10 May 2012

ASX Release

FIELD ASSESSMENT OF BROUGHTON CREEK U-REE PROJECT COMMENCED

Orion Metals Limited (ASX: ORM) announces that field work has recommenced on the Broughton Creek project with new areas of radioactive veinlets in basement rocks having been discovered in areas away from the main zone of interest.
To assist in the regional assessment programme a detailed collation and interpretation of all geophysical surveys is being commissioned and features warranting field verification will be delineated and followed up.
Concurrently ORM is planning a detailed radiometric survey over the 4 kms strike of
the altered amphibolite unit that hosts the allanite veins at the
Broughton Creek
Prospect. This will be completed using a continuous reading spectrometer with GPS
control to produce a contoured image of radioactivity variations at prospect scale.
Because the prospect is newly discovered, prospecting activities have been directed
at disclosing numerous
occurrences of very high grade U-REE veins where
individual analyses range up to in excess of 30% U3O8 and 9% REEs. Further data will be gathered to allow targeting of drill holes to test the distribution and extent of
these veinlets on an overall perspective.
It is intended to complete this work by the end of June at which point a decision will
be made as to the next phase of exploration on the project.

"The information in this report that relates to exploration results is based on information compiled by Mr Adrian Day, who is a Member of the Australian Institute of Geoscientists and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the

'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the

"JORC Code"). Mr Day is a

non-executive Director of Orion Metals Limited

and is employed by

Australian Asiatic Gems Pty Ltd, a consultant to the Company. Mr Day consents to the inclusion in this report of the matters based on his information in the form and context in which it appears."

For further information contact:

David K Barwick (Chairman) or Garry Gill (Chief Operating Officer) Orion Metals Limited

Telephone: + 61 7 3249 3060

www.orionmetals.com.au

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