Orion: Prieska Total Mineral Resource Exceeds 30Mt Following Updated Open Pit Resource

The total mineral resource follows the updated deep sulfide resource of 28.73Mt at 3.8 percent zinc and 1.2 percent copper which underpinned the phase 1 scoping study announced before Christmas.

Orion Minerals (ASX/JSE: ORN) has announced an updated total mineral resource comprising indicated and inferred resources of 30.49 million tonnes grading 3.7 percent zinc and 1.2 percent copper at its Prieska zinc-copper project in the Northern Cape, South Africa, following the completion of an updated mineral resource estimate for the +105m Level Target.

As highlighted in the press release:

  • Updated total mineral resource estimate completed for the Prieska zinc-copper project in South Africa, including an updated resource for the +105m Level Target (Open Pit), using all 2018 data.
  • Prieska total mineral resource, reported and classified in accordance with the JORC Code (2012), now stands at: 30.49Mt at 3.7 percent zinc and 1.2 percent copper, including indicated mineral resources of 19.13Mt at 3.59 percent zinc and 1.18 percent copper.
  • Updated +105m Level Mineral Resource: 1.76Mt at 2.0 percent zinc and 1.5 percent copper including an indicated resource of 0.62Mt at 3.05 percent zinc and 1.54 percent copper.
  • The total mineral resource follows the updated deep sulfide resource of 28.73Mt at 3.8 percent zinc and 1.2 percent copper which underpinned the phase 1 scoping study announced before Christmas. The Bankable Feasibility Study, which will incorporate the total Mineral Resource, is on track for completion in Q2 2019.

Click here to read the full Orion Minerals (ASX/JSE:ORN) press release.

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

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Rio Tinto Exploration and Calibre Mining Initiate 2021 Exploration Program Including 5,500 Metre Drilling Campaign Prioritizing Prospective Near-Surface Copper and Copper-Gold Mineralization

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to provide an update on the Borosi exploration project held under an earn-in option agreement between Rio Tinto Exploration (LSE:RIO) (“RTX”) (“Rio Tinto”) and Calibre. Calibre controls a 100% interest in the Borosi concessions located in the prolific Mining Triangle region of northeastern Nicaragua. RTX has the right to earn a 75% interest by spending US$45 million over eleven years in the project ( see Calibre news release dated February 24, 2020 ). The Borosi exploration program is being directed by RTX through a partnership agreement with Calibre as project operator.

Highlights

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FDA Approves Trodelvy®, the First Treatment for Metastatic Triple-Negative Breast Cancer Shown to Improve Progression-Free Survival and Overall Survival

Trodelvy Significantly Reduced the Risk of Death by 49% Compared with Single-Agent Chemotherapy in the Phase 3 ASCENT Study –

– Trodelvy is Under Regulatory Review in the EU and in the United Kingdom, Canada, Switzerland and Australia as Part of Project Orbis

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Rio Tinto details $47 billion 2020 economic contribution, including $8.4 billion of taxes and royalties

Rio Tinto today released its 2020 Taxes paid: Our economic contribution report , which shows the company made a total direct economic contribution of $47 billion in the countries and communities where it operates, including $8.4 billion of taxes and royalties.

Despite the widespread challenges of COVID-19 in 2020, the contribution was up from the previous year, when Rio Tinto made a total direct economic contribution of $45.1 billion in the countries and communities where it operates, including $7.6 billion of taxes and royalties.

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