TORONTO, Sept. 9, 2019 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to announce that in addition to its recently announced exploration program on the Knight project's multiple breccia pipe targets similar to that of Minto, the Company will commence its core resampling on the Tyranite, Duggan and Minto zones of the Knight with the objective of validating the historical drilling.
The intent of this resampling program is to compile the Knight project's diamond drilling which has been completed prior to Orefinders consolidating this land package. The Knight project has 31,900 metres of diamond drill core, all inventoried, in its possession which it used to complete its geological model as described in the Company's September 5, 2018 news release.
Core Resampling Program on Knight's Tyranite, Duggan and Minto Zones
The Tyranite mine site hosts well maintained core from all the drill programs on Tyranite and Duggan since the mid-1980's.
Diamond drilling on the Tyranite deposit occurred in 8 different phases between 1987 and 2011 but most of the drilling was done in 1987-1988 (52 holes), 1996-1997 (13 holes) and 2011 (15 holes). Except for the most recent drill program for which certificates are available, none of the previous programs had any QAQC and in many cases no certificates are available. The proposal is for approximately 400 samples of quartered core to be collected and analyzed for gold by fire assay.
The Duggan core inventory at the Tyranite mine site includes holes from 1987-1988 and from 2010-2013. A total of 51 drill holes and 4,136 samples were assayed during these 2 phases of drilling and represents 80% of the drill holes and over 96% of the assays in our compiled database. As with the Tyranite drilling only the most recent drill program had some limited quality control. It is estimated that approximately 250 quartered samples collected from various holes from the 2 periods and should be sufficient to validate the existing drill hole data for Duggan.
The only Minto core available at the Tyranite mine site was drilled recently because prior to the involvement of the previous owner (circa 2007) the Minto property was under separate ownership and no core was preserved at the Tyranite mine site. A total of 5,044 samples were analyzed from 18 holes. All of these assays have signed certificates with reported results for laboratory standards but no company-inserted quality control materials and as such will need some independent verification. A limited sampling program of 250 samples from available core will be undertaken to validate the historical drilling assays.
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 District 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