TORONTO, Sept. 5, 2018 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSX.V: ORX) is pleased present its
exploration plans, 3D geologic models, interpretations and big
picture vision for its 100% owned Knight Project in the Shining
Tree District of Northern Ontario.
The Knight Project consists of multiple contiguous assets
which had been acquired from multiple vendors and consolidated as
one project now owned by Orefinders. The Company has prepared a new
presentation specific to the Knight Project that is available at
the link below:
Orefinders Knight Project Presentation
Knight Project Data Validation & Compilation
Knight's component projects (collectively the Tyranite Mine,
Tyranite Extension, Minto, Duggan
and Porphyry Lake projects) had mass quantities of data both in
hardcopy and digital formats and since its acquisition, Orefinders
has been validating and compiling all known work into its database.
The Company believes that reliable and organized data is a critical
component to understanding any project's history in order to design
a work program to unlock value. With our data exercise now
complete, the finished products are our geologic interpretations,
its ensuing exploration and drill programs which are now detailed.
These interpretations are indented to demonstrate to investors and
to industry what the Knight Project is, what its potential is and
the Company's framework for development.
Knight Geology Interpretations & 3D Models
The gold deposition on the Knight and surrounding properties
occurred over a protracted period of time indicating that the
region has had a very long and focused sequence of events.
The geology of the Knight Project has the similar features as those
found in the Kirkland
Lake-Larder Lake camp to
the northeast, where the Company's McGarry and Mirado projects are
located. Knight has the same volcanic sequences equivalent in age
to the Kidd Munro (2717Ma), cut by intrusions at 2688Ma and alkalic
volcanics, porphyry intrusions and sedimentary units very similar
in nature to Temiskaming Assemblage at Kirkland Lake.
The sequences are cut by the regional-scale Ridout Shear Zone,
which has been traced from Chester Township in the west (IAMGOLD's
Cote Lake) with gold occurring along NS and NW-SE shear
zones. Gold occurs in many different styles from mesothermal
shear zone-hosted (Tyrenite, Duggan) to porphyry/intrusion-hosted
(Duggan, Porphyry Lake) to diatreme breccia-hosted (Minto) and late-stage dilational quartz
veins.
"Needless to say, our team is intrigued by our Knight Project
and the potential it offers through further investment and
consolidation. Our big picture vision for Knight is to deliver a
multi-million ounce gold deposit right in the middle of
Ontario, which can be easily
accessed through paved road. We see the Knight district as having
the same scale potential as IAMGOLD's Cote Lake Project, which our
team was responsible for acquiring and consolidating. Orefinders is
trying to recreate that success in approaching the Knight Project
in fundamentally the same way. Both Knight and Cote hosted
high-grade underground mines which had fallen into fragmented
ownership. Both are in the Abitibi Greenstone belt, but in portions
which are were understood then their Kirkland Lake and Timmins cousins. Cote Lake proved that the
Abitibi Greenstone belt went as far as Gogama in the West having passed through our
Knight Project which is 80km east of Cote Lake. We are
excited to finally show our investors and mining companies what the
Knight Project is and what it can be," said Stephen Stewart, Orefinders CEO.
Knight Permitting
With the exploration plan now devised, the Company will move
towards the advance exploration and permitting phases with the
Province so that the Knight Project is drill ready.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused
exclusively within the Abitibi Greenstone Belt. The Company is
listed on the Toronto Venture Exchange under the symbol ORX.
QP Statement
The technical information contained in
this news release has been reviewed and approved by Charles Beaudry, P.Geo, 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."
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.