TORONTO, March 2, 2020 /CNW/ - Orford Mining Corporation ("Orford") (TSX-V: ORM) is pleased to announce new exploration results and provide a targeting update on its 100% controlled Qiqavik gold project in the Cape Smith Belt in northern Quebec. Newly received gold grain count in till sample data from the 2019 exploration program have identified high priority target areas along the 7 km long and 100 m plus wide IP Lake Shear corridor (IPSC, Figure 1). Laboratory analyses have reported up to 556 gold grain counts per 10 kg normalized sample, the highest value seen to date on the property, with 52 samples proximal to the shear corridor yielding more than 100 gold grains (Figure 1). Consequently, the central (Dumbbell Lake) and western segments of the IPSC and secondary-scale cross-structures in these areas are considered a high priority target for the 2020 exploration program.
David Christie, President and CEO of Orford, commented, "The very high gold grain results returned in the 2019 till samples have enabled Orford to vector in on more specific structural targets along the IPSC than we had previously been capable of doing. We are looking forward to continuing the till sampling, geological mapping and drill targeting process on the very exciting IPSC in 2020".
In 2019 Orford completed a 1,368 metre drilling program in six holes at Interlake, IP lake and the Focused Intrusive (see Orford news release of October 16, 2019) Orford was successful in intersecting gold mineralization in all six drill holes targeting three different geological structures on the property separated by up to 18 km. A key discovery of the 2019 exploration program was the definition of the IP lake shear corridor (IPSC) in the southern portion of the property (Figure 1). The IPSC has been traced at surface for over 7 km and varies in its surface thickness expression from 125 to 375m. The shear is hosted by volcanic and volcanic metasedimentary rocks and is flanked to the south in some of the more westerly portions by an iron formation, or possibly several iron formations which themselves are variably gold mineralized and silicified. Three high grade boulder trains occur north of the IPSC, The Anick Boulder Train, the Eric Boulder Train and the Dumbbell lake boulders (Figure 1). We believe these boulder trains are sourced from cross structure intersections along the IPSC to the south and transported north by glacial transport. Glacial till sampling and boulder train tracing of mineralization are standard widely used and often very successful exploration methods in the northern hemisphere.
1) Note that grab samples are selective by nature and values reported may not be representative of mineralized zones.
The shear corridor was tested at IP lake by two 2019 holes separated by 600m. Based on the new till sample results it appears that neither of these holes tested locations that both the boulder trains and gold in till dispersion trains point to as potential sources. Nonetheless, QK-19-002- intersected 0.58 g/t Au over 10 m (including 3.2 g/t Au over 1.4 m)2.
2) All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.
In order to better target the 7-km strike length of the IP lake shear corridor (IPSC), 153 till samples were collected in late August 2020 and sent to IOS Geoscientific for gold grain counting (ARTGold™) and mineralogical associations determination. Gold grain count Results for 115 of 153 samples have been received to date the results of which are shown in figure 1, mineralogy results for all samples are pending.
Normalized gold grain count results received to date show clusters of till samples with more than 100 grains around Dumbbell Lake and along the Anick boulder train north of the western portion of the IPSC. These results include the highest counts received to date on the property and are significantly higher than those from the area around IP Lake where QK-19-002 and QK-19-003 were drilled. These samples form the largest and best defined till anomalies to date on the Qiqavik Property. Given the ice transport direction toward the north-northeast, the close association of these anomalies with the IPSC and secondary cross-structures provide compelling vectors for targeting further exploration.
Results from pending till samples as well as the ongoing detailed structural analysis will help define high quality targets for the 2020 exploration season. While we continue to evaluate the many additional high-quality targets on the Qiqavik Property, the multiple gold mineralization indicators associated with the IP lake shear corridor will make it the focus for exploration work in the short term. 2020 Exploration work will focus on mapping, geophysics (IP) and additional till samples in the area around the very prospective IP Lake Shear Corridor to refine drill targets.
About the Qiqavik Property
The Qiqavik Property covers the 40-km long Qiqavik Break, part of the Cape Smith Belt event which is of Paleoproterozoic age (1.8-1.9 billion years). This geologic era is marked by its significant metal endowment as illustrated by the important gold districts that occur worldwide related to geological events of Paleoproterozoic age. These include the Flin Flon-Snow Lake Belt, the Ashanti Gold Fields of West Africa, the Tapajos-Parima Belt of Brazil, and the Tanami Region in Australia. The Cape Smith Belt is also home to Glencore's world class Raglan Mine.
Early-stage exploration work completed to date on the Qiqavik Property shows that high-grade gold and copper occurrences are structurally controlled and associated with secondary splay structures located along the district-scale Qiqavik Break Shear Zone which extends the full 40 km length of the Qiqavik Property.
About Orford Mining Corporation
Orford Mining is a gold explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik and West Raglan projects comprising a land package totaling over 80,000 hectares in the Cape Smith Belt of Northern Quebec. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. The West Raglan project hosts a number of high grade Raglan-style nickel/copper/platinum group metal discoveries along a 55 km mineralized trend. Orford continually seeks new gold exploration opportunities in North America. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM
To view further details about the Qiqavik and West Raglan Projects please visit Orford's website, www.orfordmining.com.
The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, P.Geo., Vice President Exploration of Orford, a Qualified Person under NI 43-101.
Field teams collected approximately 7kg of till from dug pits in frost boils. The samples were sent to IOS Geoscientific for gold grain counting by their ARTGoldTM method which is subject to internal QAQC methods. Grain counts presented include both coarse counts (50-1000um visual) and fine grains (sub 50um) normalized to 10kg.
The information regarding work disclosed herein in respect of the Qiqavik Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services Geoscientifiques Inc. titled "NI 43-101 Technical Report on Qiqavik Project, Northern Quebec, Canada" effective September 14, 2017, and on Orford's news releases available on Orford's website and on SEDAR.
Cautionary Statement Concerning Forward-Looking Statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including without limitation statements relating to the liquidity and capital resources of Orford and potential of one or more of the Qiqavik, and West Raglan, properties.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orford to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Orford's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although Orford has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Orford disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
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SOURCE Orford Mining Corporation
Renseignements: David Christie, President and CEO, 141 Adelaide St West, Suite 1608, Toronto, ON Canada M5H 3L5, T: (416) 309-0609, www.orfordmining.com