TORONTO, Sept. 9, 2019 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSX.V: ORX) is pleased to announce
that in addition to its recently announced exploration program on
the Knight project's multiple breccia pipe targets similar to that
of Minto, the Company will
commence its core resampling on the Tyranite, Duggan and
Minto zones of the Knight with the
objective of validating the historical drilling.
The intent of this resampling program is to compile the Knight
project's diamond drilling which has been completed prior to
Orefinders consolidating this land package. The Knight project has
31,900 metres of diamond drill core, all inventoried, in its
possession which it used to complete its geological model as
described in the Company's September 5,
2018 news release.
Orefinders Knight Project Presentation
Core Resampling Program on Knight's Tyranite, Duggan and
Minto Zones
The Tyranite mine site hosts well maintained
core from all the drill programs on Tyranite and Duggan since the
mid-1980's.
Diamond drilling on the Tyranite deposit occurred in 8 different
phases between 1987 and 2011 but most of the drilling was done in
1987-1988 (52 holes), 1996-1997 (13 holes) and 2011 (15 holes).
Except for the most recent drill program for which certificates are
available, none of the previous programs had any QAQC and in many
cases no certificates are available. The proposal is for
approximately 400 samples of quartered core to be collected and
analyzed for gold by fire assay.
The Duggan core inventory at the Tyranite mine site includes
holes from 1987-1988 and from 2010-2013. A total of 51 drill
holes and 4,136 samples were assayed during these 2 phases of
drilling and represents 80% of the drill holes and over 96% of the
assays in our compiled database. As with the Tyranite
drilling only the most recent drill program had some limited
quality control. It is estimated that approximately 250
quartered samples collected from various holes from the 2 periods
and should be sufficient to validate the existing drill hole data
for Duggan.
The only Minto core available
at the Tyranite mine site was drilled recently because prior to the
involvement of the previous owner (circa 2007) the Minto property was under separate ownership
and no core was preserved at the Tyranite mine site. A total
of 5,044 samples were analyzed from 18 holes. All of these assays
have signed certificates with reported results for laboratory
standards but no company-inserted quality control materials and as
such will need some independent verification. A limited
sampling program of 250 samples from available core will be
undertaken to validate the historical drilling assays.
QP Statement
The technical information contained in this news release has
been reviewed and approved by Charles
Beaudry, P.Geo and géo., 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." For the exploration undertaken by Orefinders all
assay batches are accompanied by rigorous Quality Assurance
procedures that include insertion of standards and blanks and
verification assays in a secondary laboratory. Quality
Control results, including the laboratory's own control samples,
are evaluated immediately on reception of batch results and
corrections implemented immediately if necessary.
About Orefinders Resources Inc.
Orefinders is a Gold
exploration and development company focused in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt. The Company
is listed on the Toronto Venture Exchange under the symbol ORX.
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.