TORONTO, March 17, 2023 /CNW/ - Orford Mining Corporation (TSXV: ORM) (Orford) is pleased to report that it has completed the winter drill program on the Joutel Eagle Property ("Joutel Eagle") located along the fertile Casa-Berardi Structural Zone and historical Eagle-Telbel Mine Trend in the Abitibi Greenstone belt. A total of 14 holes and 2,535 metres (Table 1) have been drilled, including an additional 500 metres in 3 holes since reporting of the positive preliminary results from drill hole 23-JE-004 on February 21, 20231 which returned 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. These previously reported results are from samples that were sent for rush analysis. All other remaining assays are pending. Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.
David Christie, President and CEO of Orford, commented, "The 2023 drill campaign on our Joutel Eagle property has successfully confirmed the 400 metre strike of the South Gold zone. The program has also returned the best grade results to date on the zone in a cross-cutting structure which could be a game changer for the project's economics. We eagerly await assay results for the completed drilling and the detailed structural interpretation that will follow."
The recently completed drill program has successfully tested:
- a 400 metre-plus strike length of the South Gold Zone (Figure 1).
- the possibility of parallel mineralized zones to the north (Holes 23-JE 006 & -007, Figure 1), similar to the presence of the north mine horizon observed at the Eagle-Telbel Mine located 8 km to the southeast.
- possible cross-structures in the South Gold Zone observed in the recently flown airborne magnetic-electromagnetic survey (Figure 1).
To date both the 20221 and preliminary 20232 drilling results have shown that the South Gold Zone hosts higher grade gold over wider intersections than had historically been reported. In addition, preliminary findings have identified a new structural corridor oblique to the South Gold Zone (Figure 1) that is coincident with zones of higher-grade gold associated with an increase in quartz carbonate veining and pyrite as observed in hole 23-JE-004 (Figure 1). A similar system is also documented in holes 23-JE-014, 015, 006 and 007 (Figure 1, Table 1). Data was collected during the drill program with a core orientation tool and a full structural interpretation will be completed once all assays have been received and reported to identify 1) additional targets in the South Gold Zone, 2) secondary targets which may be associated with structures hosting higher grades oblique to the South Gold Zone, and 3) other targets along strike from the South Gold Zone to the northwest and southeast along the Eagle mine horizon.
1 Orford Mining News Release dated February 21, 2023.
2 Orford Mining News Release dated June 7, 2022.
Figure 1: Map of the Joutel Eagle South Gold Zone Showing New Results and Completed Drilling. Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. Information on adjacent properties is not necessarily indicative of the potential on Orford's Joutel Eagle Property1,2
Table 1: Joutel Eagle: South Gold Zone Drill Hole Coordinates (UTM NAD83 Zone 17)
Sample shipments were sealed and shipped to AGAT Laboratories, Val-d'Or, Québec. All gold assays reported were obtained by standard fire assay 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 gold3 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).
3 Système d'information géominière of Québec "SIGEOM", Quebec Ministry of Energy and Natural Resources. April 20, 2020 DV93-01
Orford Mining is a gold and critical mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik, West Raglan and lithium exploration projects comprising a land package totaling over 111,000 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 55 km mineralized trend. In early 2023 Orford acquired large claim blocks targeting Lithium in the Nunavik Region. These Lithium claim blocks have been carefully selected as having promising lithium potential after an exhaustive compilation of available data. Orford also has four property positions 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 exploration 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.
SOURCE Orford Mining Corporation
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