TORONTO, Feb. 28, 2018 /CNW/ - Orford Mining Corporation ("Orford") (TSX-V: ORM) is pleased to announce that it will be performing a helicopter-borne magnetic survey covering the entire 248km2 extent of its 100% controlled Qiqavik Project in the Cape Smith Belt in northern Quebec. The survey is scheduled to begin on March 19th and will take approximately 3 weeks to complete.
David Christie, President and CEO of Orford, commented, "This detailed magnetic survey will provide fundamental structural and geological information across the Qiqavik Property, including the eight separate high-grade discoveries that we've made to date on the property. The survey will significantly augment our current database and allow us to target drilling of gold traps on the Qiqavik property. Completing this survey at this time will help us to hit the ground running when we begin the summer exploration program, with high quality pre-defined drill targets We are very encouraged by the high-grade gold and high-grade gold-copper results yielded by the Qiqavik property to date, and look forward to continuing to explore the potential of this new 40 km long camp-scale gold belt located in a previously unexplored region of Canada."
Orford has retained the services of BECI Exploration Consultants to perform the survey using the Triumph Instruments Magnetic Gradiometer System. The survey will be conducted at 50m line spacing and will cover the entire Qiqavik Property.
Results of the survey will supplement data collected by Orford in 2016 and 2017 and assist in locating sites of dilation along structures that were active at the time of gold mineralization in order to target significant gold accumulations.
Upcoming Investor Conferences
Red Cloud Pre-PDAC Mining Showcase: Orford will be attending the Red Cloud Pre-PDAC Showcase in Toronto on March 2, 2018 where David Christie, President and CEO of Orford, will give a presentation.
PDAC 2018: Orford will be attending the PDAC Convention at the Metro Toronto Convention Centre – South Building in Toronto over the March 4-7, 2018 period. Orford Mining management representatives will be on hand in the Investors Exchange area at Booth #2549.
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 (Figure 1) are 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. Geological data indicate that gold mineralization at Qiqavik is structurally controlled and associated with porphyry intrusions in places.
Qualified Person and Quality Assurance and Quality Control
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. 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 news releases of October 26th, 2017and 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.
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, 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