TORONTO, April 11, 2019 /CNW/ - Orefinders Resources
Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to
announce its planned work program for its McGarry Mine project
along the Cadillac-Larder Lake Break ("CLLB") near Kirkland Lake, Ontario.
Since acquiring McGarry and Barber Larder in August 2018, Orefinders has focused its
activities on compiling all the historical data, spanning numerous
decades, to develop a work plan that evaluates high potential
zones. This is in line with Orefinders' strategy of consolidating
and developing the Cadillac-Larder Lake Break, on which McGarry and
Barber Larder properties share synergies with Orefinders' Mirado
Mine located 15KM to the southwest.
Click here to view a Map of the McGarry Exploration Program
Focus Areas
"Developing gold resources geographically around the McGarry
property is part of our core strategy. I'll note that Mirado is
only 15 KM away and that McGarry hosts an existing large tailings
facility along with the infrastructure required to build a mill
facility. Our goal is to increase resources that exist within a
tight radius of this hub. We've completed some toll milling and
evaluated new contracts but ultimately Orefinders wants to control
its own destiny. We have acquired a number of the key elements and
this plan is designed to grow our own critical mass to justify our
own operations," said Stephen
Stewart, Orefinders' Chief Executive Officer.
Focus on Splay faults from Cadillac-Larder Lake Break
An important proportion of the resources in the Kirkland Lake-Larder
Lake mining district were discovered and mined on subsidiary
structures emanating from the CLLB. These splay faults host
the mineralization in the South-Mine Complex at Kirkland Lake
Gold's Macassa Mine and are responsible for the mineralization in
the Mill Horizon trend at the Kerr Addison mine and south of the
Armistice mine on the McGarry Property.
It is very clear from our air photo lineament analysis that the
Arjon Structural Trend represents such a splay north of the CLLB
and could represent a transfer fault between the CLLB and the north
contact of the Temiskaming sedimentary basin. These targets
on the McGarry Property have seen much less drilling than the CLLB
itself and they are known to host gold mineralization and have
excellent potential for discovery of near surface gold zones in
unconventional environments as underlined by the South Mine Complex
discovery.
Potential at the Armistice Mine on McGarry
When underground mining operations at the Armistice mine were
suspended in 2013 the project was left with historical indicated
resources of 446,000 tonnes at 8.6 gpt gold for 123,000 ounces (7.9
gpt gold, cut to 51 gpt) and an additional inferred resource of
156,000 tonnes at 5.8 gpt gold for 30,000 ounces (see
Armistice Resources Corp 2011 Technical Report on McGarry Project
at www.sedar.ca) (See note on Historical Resource Estimates
below).
Three principal mineralized zones have been mapped in the
Armistice mine:
- The Kerr Zone, which is the northern-most of the three, is
interpreted to correlate with the main flow ore on the Kerr Addison
Mine to the east. It is hosted in strongly deformed mafic volcanics
described as cherty mudstones. Grades up to 15.0 gpt over
narrow intervals occur within a 10 metre-thick package of altered
and silicified rock starting just below the 2,250-feet level of the
Armistice mine. The overall geology is steeply dipping to the north
and the Kerr Zone plunges about 70 degrees to the southwest, the
same rake as the Kerr Addison deposits.
- The parallel Sheldon and the Armistice zones are located to the
south of the Kerr Zone and correlate with the Mill Zone Horizon on
the east side of the Armistice fault, against which the
mineralization at Kerr Addison terminates and which has been
interpreted to have a 610 metres west side down displacement
placing the top of the same horizon at nearly 2,000 metres vertical
depth.
Potential at the Barber Larder
Barber Larder hosts shallow, high-grade mineralization, thus
warranting an aggressive drill program given its location on the
Cadillac-Larder Lake break.
A small open pit operation in 1987-88 produced 77,000 tonnes of
material and was sent to the Kerr Addison mill at an average grade
of 4.1 gpt gold. However, only the top most part of the deposit was
mined and as such, a significant amount of mineralized material
remains. Drill intersections that project beneath the pit
include:
- 42.7 gpt gold uncut (20.6 gpt Au cut to 30 gpt gold) over
2.4 metres in hole B88-35 drilled in 1988.
- 14.2 gpt gold over 3.9 metres in hole BL-80-29 drilled in
1980.
These drill results need to be validated based on resampling of
core remaining in the core library at the Armistice Mine, which is
planned in the coming months. Future exploration on the
Barber-Larder Zone will seek to complete a proper interpretation of
the mineralized zone and validate whatever assays are
available.
Furthermore, ~600m west of the Barber-Larder zone, a drill hole
intersected 6.1 metres grading 3.4 gpt gold at a vertical depth of
60 metres in the same package as Barber-Larder. We plan on
following up on this by conducting shallow drilling between the
Barber-Larder Zone and the western boundary of the
property.
Potential at the Mill Zone Horizon
The Mill Zone Horizon is located south of the Armistice mine and
extends over 3,000 metres parallel to the CLLB, straddling the
McGarry and Kerr Addison properties. Gold is hosted in quartz veins
in green carbonate altered ultramafic units intercalated with mafic
volcanics and sedimentary rocks. Grades up to 7.2 gpt gold
over 7.8 metres were encountered on surface and in shallow
drilling. Mapping and trenching is proposed for this area to
better understand the structural controls on the mineralization
found in the Mill Zone.
Potential at the Arjon Zone
The Arjon Zone is located north of the Armistice mine and is
comprised of intercalated mafic and green carbonate altered
ultramafic volcanics and numerous syenite porphyry
intrusions. The rocks are sheared and altered, particularly
in the vicinity of the green carbonate units and there is ample
evidence of low angle, secondary fault structures emanating from
the Cadillac-Larder Lake break and
extending northeast, linking up the break with unit parallel
faulting on the north side of a Temiskaming-type sedimentary
basin. Very little work has been done in this area since the
original mapping in the late 1930's but a recent air photo
lineament study indicates numerous potentially mineralized
structures crossing this favourable package of rocks. The
plan is to conduct mapping and prospecting along the Arjon Fault
System to better understand the structures and controls of gold
mineralization. Recent discoveries by Kirkland Lake Gold in the South Mine Complex
underlines the important of off break environments as favorable
targets for gold exploration in the Kirkland Lake-Larder
Lake district.
About McGarry Mine Project
The McGarry Project contains several mineralized zones including
a historical resource on the Armistice Mine. Established
mining infrastructure comprises a 34 metre headframe, a
3-compartment shaft to 700 metres depth with two 6 ft by 6 ft
hoisting compartments equipped with a service cage and a 4.5 tonne
skip, respectively. The Shaft is serviced by a 3.0 metre
diameter double drum hoist capable of hoisting over 900 tonnes per
day.
The McGarry project straddles the Cadillac-Larder Lake Break and
is located immediately west of the Kerr Addison Mine which produced
over 11 million ounces of gold between 1938 and 1996. The
McGarry property is underlain by the same sequence of rocks as
found on the Kerr Addison property and hosts similar mineralization
types including "flow ore" and "carbonate ore".
Note on Historical Mineral Resources
There are no current Mineral Resource or Mineral Reserve
estimates prepared for the McGarry Property. However there
have been a number of historic estimates prepared over the years.
Orefinders cautions that a qualified person has not done sufficient
work to classify the historic estimates as current mineral
resources or mineral reserves and the historical estimates should
not be relied upon. Orefinders consider these results as
indications of the presence of mineralization on the property and
we will use the information to guide future exploration but the
reader is cautioned not to rely on these estimates.
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 TSX 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."
Reports on mineralized intersections are based on available
documents and in many cases there is no way to verify the quality
of the assays and certificates of analyses may not be
available. We caution the reader that these intersections are
only used to orient future exploration and where old core
boxes are available the core will be resampled with strict QAQC
protocols in order to validate the historical results.
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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.