Orion completes Berau coal project drilling campaign

ASX-listed firm Orion Equities Ltd has completed a 3,000m drilling campaign in Berau Coal Project, East Kalimantan and is currently awaiting data validation and assessment of the results of the drilling, partner Strike Resources Limited reported on Friday.

The company said an AMDAL environmental impact study, which is required as a precursor to any proposed mining activity, has commenced and a scoping study has been initiated to advance the project to a production phase.

According to Strike, during this quarter Orion will finalize drilling data and results to outline a JORC resource, advance the AMDAL study and finalize the scoping study to determine the project economics and feasibility.

Orion has 70 percent stake in the project, which covers approximately 5,000 hectares with the focus of initial activity centered on an area of approximately 100 hectares located at the north-west corner of the concession. Strike has the remaining balance. (denny)