TORONTO, Feb. 20, 2023 /CNW/ - Orford Mining Corporation (TSXV: ORM) (Orford) is pleased to report preliminary drill hole results from its ongoing winter drilling at the Joutel Eagle Property ("Joutel Eagle") located along the fertile Casa-Berardi Structural Zone and on the historical Eagle-Telbel Mine Trend in the Abitibi Greenstone belt.
- Grades of up to 28.7 g/t gold over 0.32 metres included in an interval of 4.1 g/t gold over 14.6 metres were intersected in drill hole 23-JE-004 (Table 1, Figure 1). These are higher than those reported historically from the system in nearby hole 80-10 where the interval of interest was redacted in historical documents (Figure 1), and higher grades than reported from our first drill program in 2022 (see Orford press release dated June 7, 2022).
- Grades of up to 4.6 g/t gold over 0.9 metres included in an interval of 1.5 g/t gold over 8.3 metres were intersected in drill hole 23-JE-005 (Table 1, Figure 1). All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.
David Christie, President and CEO of Orford, commented, "These early results from our second drill program at Joutel Eagle have returned results that are extremely encouraging. The South Gold zone was known as a thick low-grade zone with good potential but is now proven to have a much higher-grade component. We look forward to completing the planned drill program designed to test the strike extent of the South Gold Zone on the Joutel Eagle Property."
The gold mineralization between 100m to 114.4m in 23-JE-004 is associated with multigenerational fault zones and quartz & quartz-carbonate veining in felsic volcaniclastics hosting pyrite and quartz carbonate alteration. The gold intervals reported in 23-JE-004 from 128.8 to 158.9m and 23-JE-005 from 85.6 to 88.6m are associated with sheared graphitic-rich ash tuffs with pyrite rich quartz carbonate veining and zones of semi-massive to massive sulphide mineralization.
23-JE-004 and 23-JE-005 are the first two drill holes of 10 planned as part of the 2,000-metre 2023 drill program to test the strike of the South Gold Zone on the Joutel Eagle Property. Results reported in this news release are for samples that were sent for rush analysis all other remaining assays are outstanding and drilling is ongoing. Interpretation of the historical and current South Gold Zone drill results is ongoing and will be completed once all assays from the 2023 drill program have been received.
Table 1: Highlight of Joutel Eagle Drill hole assays received to date. All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. Composited intervals are reported at a cut-off of 0.5g/t Au.
Table 2: Joutel Eagle: South Gold Zone Drill Hole Co-Ordinates (UTM And 83 Zone 17)
Sample shipments were sealed and shipped to AGAT Laboratories, Val-d'Or, Québec. All gold assays reported were obtained by standard fire-assaying on 50-gram nominal weight with an atomic absorption spectroscopy finish or by gravimetric finish in the case of overlimit and on request (methods 202551 and 202564) at AGAT Laboratories, Mississauga, Ontario. All samples were also analyzed for multi-elements, including copper and silver, using a four-acid method with an ICP-OES finish (method 201070) at AGAT Laboratories, Mississauga, Ontario.
Drill program design, Quality Assurance/Quality Control ("QA/QC") and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are inserted at a minimum of 10% for QA/QC purposes in addition to those inserted by the lab. A subset of samples has not yet been sent for a verification assay at another lab. AGAT Laboratories are accredited by the Standards Council of Canada and found to comply with the requirements of ISO/IEC 17025:2017.
The property is situated just to the northwest of Agnico Eagle's past producing Eagle-Telbel operation which produced in excess of 1.1 Moz of gold1 from 1974 to 1993. The Joutel Eagle property covers 11 km of the Casa Berardi structural zone south splay (CBSZ) which is associated with several gold deposits and, together with our McClure East property, gives Orford over 17 km coverage on the prolific CBSZ ). The Joutel Eagle Property sits to the north of Orford's 100% owned Joutel South Property and to the west of Orford's 100% owned McClure East property. Information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties. On November 30, 2021 Orford announced that it had entered an option to acquire 100% of the 50 square kilometer Joutel Eagle Project from Globex Mining Enterprises Inc. (TSX: GMX) (OTCQX International: GLBXF) (Frankfurt: G1MM).
Orford Mining is a gold explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are located in the Cape Smith Belt in the Nunavik region and the Joutel region of the Abitibi district. The Qiqavik and West Raglan projects comprise a land package totaling over 105,000 hectares in the Cape Smith Belt of Northern Quebec. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. The West Raglan project hosts a number of high-grade Raglan-style nickel/copper/platinum group metal discoveries along a 50 km mineralized trend. Orford has acquired four property positions (Joutel – Eagle, McClure East, Joutel – South and Joutel – Omega) totaling 26,815 hectares in the Joutel region of the Abitibi district of Northern Quebec, which hosts historical deposits such as the Eagle/Telbel, Joutel Copper, Poirier Copper, and Vezza deposits. Orford continually seeks new gold exploration opportunities in North America. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM. This information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties. To view further details about Orford's Projects please visit Orford's website, www.orfordmining.com.
The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, P.Geo., Chief Geoscientist of Orford, a Qualified Person under NI 43-101. . The historical assays referred to in this release and shown in this figure were obtained from historical work reports filed with the Quebec Ministry of Energy and Natural Resources and has not been independently verified by a Qualified Person as defined by NI 43- 101
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, and West Raglan, 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.
1 Système d'information géominière of Québec "SIGEOM", Quebec Ministry of Energy and Natural Resources. April 20, 2020 DV93-01
SOURCE Orford Mining Corporation
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