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Project Overview

The Orion EU Critical Minerals Project is located in Jaén Province, Andalucía, Southern Spain. The Project includes 756 Spanish mining units (cuadrículas mineras) covering an area of 228km2.

  • Project located in Jaén Province, Andalucía, Southern Spain
  • 756 “cuadrículas mineras” covering an area of ~228km2
  • A lithified placer sand geological system with various layers rich in three future facing / critical minerals with high grade potential:
  • Rutile (Titanium)
  • Zircon / Hafnium
  • Rare Earths (Monazite hosted)
  • Silicon Metal
  • Unsuccessfully explored for uranium and thorium in the 1950’s and 1960’s
  • Initial target areas are outcropping with significant scale potential
  • Three target areas identified over a distance of 12kms
  • Historic galena (lead) mine in permit area located directly below mineralised outcrops
  • Geological mapping has confirmed broad mineralised outcrops through the majority of the permitted area

Map showing Orion EU Critical Minerals Project location

High-Grade Potential

High-grade potential with samples delivering 45% Total heavy minerals (THM) including rutile (titanium), zircon, hafnium and rare earth elements, including magnetic rare earth oxides (Neodymium, Praseodymium, Terbium and Dysprosium).

Table 1: Table showing all assay results from 2020 rock chip channel sampling program averaging 500g each

TiO2 ZrO2 HfO2 Nd2O3 Pr2O3 Tb4O7 Dy2O3
Sample Code % % ppm ppm ppm ppm ppm
AV-1 19.00 6.57 1,539 2,193 616 31 149
AV-2 19.05 6.54 1,403 1,971 506 27 135
AV-3 15.15 6.10 1,327 2,059 547 30 144
AV-4 13.85 5.05 1,123 1,697 432 23 108
AV-5 11.95 3.67 787 1,201 315 16 78
AV-6 12.20 4.34 894 1,277 328 19 93
AV-7 18.25 5.42 1,144 1,371 350 20 98
AV-8 24.40 9.70 2,353 3,383 868 41 195
AV-9 19.10 7.50 1,598 2,531 697 33 162
AV-10 >30.0 10.90 2,618 2,683 769 36 173
AV-11 15.30 4.11 938 1,283 318 20 98
AV-12 14.55 4.08 954 1,266 327 19 95
AV-13 14.45 6.24 1,362 2,164 607 31 149
AV-14 13.85 3.88 834 1,201 309 17 88
AV-N1 9.11 3.28 735 924 240 12 61
AV-N2 11.45 4.76 1,041 1,540 394 23 107

Photo showing AV-9 sample area

*Refer ASX Release dated 6 September 2024

High-Value Potential

  • Confirmation of high-grade potential from comprehensive 2024 sampling
  • The Company is targeting a primary high-grade seam that it believes will be prevalent in all three zones.​
  • Bulk rock chip channel samples from this primary seam confirm high-grade assemblage.

Photo showing selected outcrops and geological interception of potential seam in Zone 1

High-Tonnage Potential

  • 228km2​ permit area
  • Three target zones​
  • Mineralised outcrops over 12km distance
  • Two interpreted pervasive seams

Map showing three Target Zone areas and mineralized outcrops within the Permit Boundary

EU Critical Minerals Focus

EU Critical Minerals Act – 11 April 2024

Key Points
  • 1. Aim is to reduce dependence on countries outside of the EU for critical materials / minerals
  • 2. Objective by 2030​
  • i. EU Extraction: At least 10% of EU annual consumption from EU
  • ii. EU Processing: At least 40% of EU annual consumption from EU​
  • iii. EU Recycling: At least 25% of the EU’s annual consumption from domestic recycling​
  • iv. External Sources: not more than 65% of the EU’s annual consumption of each strategic raw material at any relevant stage of processing from a single third country​
  • 3. Maximum of 27 months permitting timetable for Strategic Projects involving extraction
  • 4. Single point of contact for all things permitting.
1 Aluminium/Bauxite/Alumina 18 Germanium
2 Coking Coal 19 Natural Graphite
3 Lithium 20 Tantalum
4 Phosphorus 21 Bismuth
5 Antimony 22 Hafnium
6 Feldspar 23 Niobium
7 Light rare earth elements* 24 Titanium metal
8 Scandium 25 Boron
9 Arsenic 26 Helium
10 Fluorspar 27 Platinum group metals
11 Magnesium 28 Tungsten
12 Silicon metal 29 Cobalt
13 Baryte 30 Heavy rare earth elements*
14 Gallium 31 Phosphate Rock
15 Manganese 32 Vanadium
16 Strontium 33 Copper
17 Beryllium 34 Nickel
1 Bauxite/Alumina/Aluminium
2 Bismuth
3 Boron — metallurgy grade
4 Cobalt
5 Copper
6 Gallium
7 Germanium
8 Lithium — battery grade
9 Magnesium metal
10 Manganese — battery grade
11 Graphite — battery grade
12 Nickel — battery grade
13 Platinum group metals
14 Rare earth elements for permanent magnets (Nd, Pr, Tb, Dy, Gd, Sm, and Ce)
15 Silicon metal
16 Titanium metal
17 Tungsten

Critical future facing minerals with major EU Supply Risk

Critical future facing minerals with major EU Supply Risk

EU Consumption*

EU Production

Titanium
(TiO2 eq)

~547k tpa

Nil or Negligible European Extraction

Rare Earths
(Nd,Pr,Tb,Dy)

~32k tpa

Nil or Negligible European Extraction

Zircon

~176k tpa

Nil or Negligible European Extraction

Hafnium

~13.6k tpa

Nil or Negligible European Extraction

Main extraction (mining) sources of Critical Minerals relied on by the EU

Source: EU Consumption – SCRREEN Factsheets CRMS 2023 / EU Production – USGS Mineral Commodity Summaries 2024.
*Demand in metric tonnes, 2016-2020 average, 20% added for GDP rises.

Photo on location at the outlook of Zone Three

Mineralised Seam Outcrops from Zone Three

Photo on location at the outlook of Zone Three

Photo on location at Avellanar Zone showing remnants of historic galena mine in the permit area