TORONTO, Aug. 2, 2018 /CNW/ - Orford Mining Corporation ("Orford") (TSX-V: ORM) is pleased to announce the completion of its drilling program on the Jones Keystone and Faulkner properties in North and South Carolina, respectively. A total of 6 holes have been drilled totaling 1,121m (655m at Jones-Keystone and 466m at Faulkner). Assay results for the first hole on the Jones-Keystone Property have been encouraging, reporting 41.1 m grading 1.36 g/t Au, including 9m grading 2.63 g/t Au. The Drilling at Jones-Keystone has confirmed continuity of historical mineralization and extended mineralization into a previously unexplored zone which opens up the size potential of this mineralized system. Drilling at Faulkner has discovered a new sulphide mineralized zone.
Orford's President and CEO, David Christie noted: "We are excited with the initial results from drilling on the Jones-Keystone property showing thick shallow gold mineralization and we look forward to receiving the full assay results. We are also eagerly awaiting the assay results from the drilling on the Faulkner property, including the new sulphide mineralization discovery."
Table 1: Significant Assay Results for 2018 Drilling at Jones-Keystone and Faulkner Properties*
Interval length (m)
*Significant results are intervals reporting more than 0.5g/t Au, for a minimum continuous length of 3m, with a max internal dilution of 0.25 g/t Au over 1.5m. True thickness is estimated at 70-80% of the stated core thickness.
Carolina Gold Properties
At the Jones-Keystone property in North Carolina, drilling of strong chargeability anomalies (Figure 1) that not only coincide with historically drilled mineralization, but also extend at depth and along strike beyond this mineralization (reported in Orford's press release of March 1, 2018), has yielded promising results.
JK-18-054 was drilled to a depth of 203m to test the historic gold trend associated with historical drill hole JK-11-017 (104m @ 1.27 g/t Au from 28m to 132m, including 40m @ 2.33 g/t from 64 to 104m)2 and a deeper chargeability anomaly, and to acquire structural information on shallower historical mineralization to test an alternative structural model of the mineralized trend. While drilling confirmed the continuity of historical gold mineralization, the sulphide mineralization zone associated with the deep IP anomaly did not yield significant gold results. More detailed structural evaluation of the new core is ongoing. Additional hole descriptions and locations can be found in Tables 2 & 3.
At the Faulkner property, Orford drilling targeted multiple parallel zones of sericitic and silicic alteration associated with strong IP anomalies. One of these zones is also with a strong 600m-long chargeability and resistivity anomaly and is coincidently situated under a historical surface grab sample occurrence of 6.33g/t Au and was targeted by holes FM-18-001 and FM-18-003(Figure 2). Both of these holes intersected strong pyrite mineralization and quartz-sericite alteration associated with the IP anomalies. Hole FM-18-002 drilled on the northern anomalous trend and intersected strong sulphide mineralization with strong sericite quartz alteration over 20 to 30m coincident with the IP anomaly. Assay results from all Faulkner holes are pending.
Table 2: Drill Hole Description for Jones-Keystone and Faulkner Holes
IP charge/res anomaly to south of main JK trend
0-47.9 m: Sericitically altered volcaniclastic rocks with 1-5% disseminated sulfides. 164-174m: Sericitically altered volcaniclasic rocks with 1-10% pyrrhotite from
JK-11-017 Mineralized zone and charge anomaly
68.8-154 m: Altered mafic volcanics and flows with up to 20% sulfides. 172.5 -188m: Intensely altered epiclastic rocks from with up to 15% sulfides as disseminations, bands and veinlets to 188m.
SW extension of JK-11-017 mineralized zone of JK Trend and deep charge anomaly
0-252m: Altered volcaniclastic rocks and mafic flows with 1-5% sulfides including locally silicified zones with up to 25% sulfides
Subsurface extension of grab samples of up to 6.33 ppm Au and IP charge/res anomaly.
120-138 m: Strongly altered sericite+quartz+sulfide foliated rock with scattered quartz+carbonate+pyrite veinlets similar to surface grab samples containing up to 6.33 ppm Au
Western extension of strongly altered zone tested by Newmont and IP charge/res anomaly.
Subsurface extension of grab samples of up to 1.77 ppm Au and IP charge/res anomaly.
55-85m: Pink calcite+quartz+sulfide veining is present. 82m: Visible gold is present in a vein.
Table 3: Location and orientation information for Jones Keystone and Faulkner drillholes (NAD 83 UTM Zone 17N)
Final Depth (meters)
About the Carolina Gold Properties
Orford has entered into an option agreement with Carolina Gold Resources Inc. to earn a 70% interest in both the Jones-Keystone and Faulkner Properties located respectively in North Carolina and South Carolina in the southeastern US. The properties are located in the Carolina Gold Belt, home to Oceana Gold's producing Haile Mine (3.3 Moz measured and indicated resource - 58.2 Mt at 1.77 g/t Au5), and the past-producing Ridgeway Mine.
The Jones-Keystone and Faulkner Properties occur at or near the same regional geological contact as the Haile and Ridgeway mines. At Jones-Keystone, mineralization is exposed at surface and historical drilling has yielded multiple drill hole intercepts in the 1 to 3 g/t range including an interval of 1.56 g/t Au over 54m core length including 3.01 g/t Au over 28m core length in historical hole JK-10-006, and an interval of 1.27 g/t Au over 104m core length including 3.03 g/t Au over 14m core length in historical hole JK-11-0171,2.
Note drill intervals reported in this press release are down-hole core lengths as true thicknesses cannot be determined with available information.
Source: Technical report prepared for Revolution Resources Corporation titled "NI 43-101 Technical Report on the Champion Hills Gold Project" and dated January 17, 2013.
This information is not necessarily indicative of the mineralization on Orford Mining's properties.
Note that grab samples are selective by nature and values reported may not be representative of mineralized zones.
Source: OceanaGold Corporation news release dated March 29, 2018. This information is not necessarily indicative of the mineralization on Orford Mining's properties.
The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, Vice President, Exploration of Orford, a Qualified Person under NI 43-101.
The information concerning the Carolina Gold properties in this release has been prepared by management of Orford based on current work and available historical information. There is no current report prepared in conformance with NI 43-101. Reference is made to the Management Information Circular dated September 18, 2017 filed on Orford's profile on SEDAR.
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 Mining's press releases of October 26th, 2017 and November 15th, 2017 available on Orford Mining's website and on SEDAR.
About Orford Mining Corporation
Orford Mining is a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec and the Carolina Gold Belt in United States. Orford's principal assets are the Qiqavik and West Raglan projects comprising of a land package totaling over 70,000 hectares in the Cape Smith Belt of Northern Quebec and properties in the U.S. Carolina Gold Belt. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM.
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, West Raglan, Jones-Keystone Loflin and Landrum-Faulkner exploration 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.
The TSXV has neither approved nor disapproved the contents of this news release.
SOURCE Orford Mining Corporation
For further information: David Christie, President and CEO, T: (647) 253-1144, www.orfordmining.com