TORONTO, Sept. 5, 2018 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased present its exploration plans, 3D geologic models, interpretations and big picture vision for its 100% owned Knight Project in the Shining Tree District of Northern Ontario. The Knight Project consists of multiple contiguous assets which had been acquired from multiple vendors and consolidated as one project now owned by Orefinders. The Company has prepared a new presentation specific to the Knight Project that is available at the link below:
Knight Project Data Validation & Compilation
Knight's component projects (collectively the Tyranite Mine, Tyranite Extension, Minto, Duggan and Porphyry Lake projects) had mass quantities of data both in hardcopy and digital formats and since its acquisition, Orefinders has been validating and compiling all known work into its database. The Company believes that reliable and organized data is a critical component to understanding any project's history in order to design a work program to unlock value. With our data exercise now complete, the finished products are our geologic interpretations, its ensuing exploration and drill programs which are now detailed. These interpretations are indented to demonstrate to investors and to industry what the Knight Project is, what its potential is and the Company's framework for development.
Knight Geology Interpretations & 3D Models
The gold deposition on the Knight and surrounding properties occurred over a protracted period of time indicating that the region has had a very long and focused sequence of events. The geology of the Knight Project has the similar features as those found in the Kirkland Lake-Larder Lake camp to the northeast, where the Company's McGarry and Mirado projects are located. Knight has the same volcanic sequences equivalent in age to the Kidd Munro (2717Ma), cut by intrusions at 2688Ma and alkalic volcanics, porphyry intrusions and sedimentary units very similar in nature to Temiskaming Assemblage at Kirkland Lake.
The sequences are cut by the regional-scale Ridout Shear Zone, which has been traced from Chester Township in the west (IAMGOLD's Cote Lake) with gold occurring along NS and NW-SE shear zones. Gold occurs in many different styles from mesothermal shear zone-hosted (Tyrenite, Duggan) to porphyry/intrusion-hosted (Duggan, Porphyry Lake) to diatreme breccia-hosted (Minto) and late-stage dilational quartz veins.
"Needless to say, our team is intrigued by our Knight Project and the potential it offers through further investment and consolidation. Our big picture vision for Knight is to deliver a multi-million ounce gold deposit right in the middle of Ontario, which can be easily accessed through paved road. We see the Knight district as having the same scale potential as IAMGOLD's Cote Lake Project, which our team was responsible for acquiring and consolidating. Orefinders is trying to recreate that success in approaching the Knight Project in fundamentally the same way. Both Knight and Cote hosted high-grade underground mines which had fallen into fragmented ownership. Both are in the Abitibi Greenstone belt, but in portions which are were understood then their Kirkland Lake and Timmins cousins. Cote Lake proved that the Abitibi Greenstone belt went as far as Gogama in the West having passed through our Knight Project which is 80km east of Cote Lake. We are excited to finally show our investors and mining companies what the Knight Project is and what it can be," said Stephen Stewart, Orefinders CEO.
With the exploration plan now devised, the Company will move towards the advance exploration and permitting phases with the Province so that the Knight Project is drill ready.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused exclusively within the Abitibi Greenstone Belt. The Company is listed on the Toronto Venture Exchange under the symbol ORX.
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo, Director and Vice President Exploration for Orefinders, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders' assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders' profile at www.sedar.com
SOURCE Orefinders Resources Inc.
For further information: To Speak to the Company directly, please contact: Stephen Stewart, Chief Executive Officer, Phone: 416.644.1567, Email: [email protected], www.orefinders.ca