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.
Highlights Include:
- 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redacted in historical documents (Figure 1), and higher grades than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.
|
From (m)
|
To (m)
|
Interval (m)
|
Gold (g/t)
|
|
|
|
|
|
23-JE-004
|
100.3
|
114.8
|
14.6
|
4.1
|
including
|
106.0
|
114.8
|
8.8
|
5.8
|
including
|
112.8
|
114.8
|
2.0
|
8.6
|
including
|
113.1
|
113.4
|
0.3
|
28.7
|
23-JE-004
|
128.8
|
158.9
|
30.0
|
1.1
|
including
|
132.8
|
145.1
|
12.3
|
1.8
|
including
|
134.5
|
138.9
|
4.5
|
2.9
|
including
|
142.5
|
144.1
|
1.6
|
2.6
|
23-JE-005
|
85.6
|
88.6
|
8.3
|
1.5
|
including
|
85.6
|
90.4
|
4.8
|
1.8
|
including
|
85.6
|
86.5
|
0.9
|
4.6
|
Table 2: Joutel Eagle: South Gold Zone Drill Hole Co-Ordinates
(UTM And 83 Zone 17)
Assay Status
|
Hole ID
|
X
|
Y
|
Azimuth
|
Dip
|
Length
|
Partial
|
23-JE-004
|
684301
|
5490462
|
30
|
-60
|
195
|
Partial
|
23-JE-005
|
684220
|
5490511
|
30
|
-60
|
159
|
Pending
|
23-JE-006
|
684255
|
5490754
|
30
|
-50
|
183
|
Pending
|
23-JE-007
|
684211
|
5490646
|
30
|
-50
|
252
|
Pending
|
23-JE-008
|
684174
|
5490540
|
30
|
-55
|
192
|
Pending
|
23-JE-009
|
684117
|
5490539
|
30
|
57.5
|
159
|
|
|
|
|
|
Total m
|
1140
|
Assays
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.
About the Joutel Eagle
Property
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).
About Orford Mining
Corporation
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.
Qualified Person
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
Cautionary Statement Concerning
Forward-Looking Statements
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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