News brief: Orefinders has outlined three distinct targets on its Knight Gold Project which it plans to drill in 2020. Each of the three target has distinct geological styles, with none of them having been drill tested. Orefinders views the Knight Project as having highly prospective geology within a large mineralized system with gold having been deposited over a protracted period. The geology of the Knight Project is complex and has similar features to those found in the Kirkland Lake-Larder Lake camp 110 km to the northeast.
Full details below
TORONTO, Dec. 10, 2019 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to detail its drill targets each of which are located on its 100% owned Knight Project, 70KM east of Kirkland Lake, Ontario.
1. Porphyry Lake
- Large Near Surface IP Anomaly delineating potential source of mineralization at Porphyry Lake
- Never been drill tested
2. Tyranite Mine
- Brand New 3D modelling of gold mineralization along the North-South trending Tyranite fault. Tyranite's best intersected grades and widths occur where the fault intersects the East-West trending ultramafic units, more specifically at the contacts of the ultramafics with other lithologies
- This interpretation of this geologic model has never been drill tested
3. More Minto Pipe-like Targets
- New targets with geophysical and geochemical characteristics similar to the Minto Mineralized Breccia Pipe. A dozen targets have been selected for follow up geophysics with induced polarization method
- Never been drill tested
"Over the past few years, Orefinders has communicated its strategy of making accretive acquisitions in the down market. Now, this news release marks the beginning of us pivoting inward towards our own projects. We are seeing early signs that the market for exploration is turning, we are ready to test the numerous drill targets that we have generated. These targets on Knight are the culmination of our field work, geophysics and new geological interpretations. We are looking to expand on our existing knowledge of Knight's gold resource while also looking for a new discovery within this large gold system," said Stephen Stewart, Orefinders CEO.
Orefinders Knight Project is fully permitted for drilling and the Company is planning a 4,500 metres diamond drill program to test the above targets.
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., 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." For the exploration undertaken by Orefinders all assay batches are accompanied by rigorous Quality Assurance procedures that include insertion of standards and blanks and verification assays in a secondary laboratory. Quality Control results, including the laboratory's own control samples, are evaluated immediately on reception of batch results and corrections implemented immediately if necessary.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused in the Kirkland Lake and Shining Tree districts of Ontario's Abitibi Greenstone Belt. The Company is listed on the Toronto Venture Exchange under the symbol ORX.
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