Orford Completes Airborne Geophysical Survey and Prepares to Drill on its Joutel Eagle Gold Property
TORONTO, Dec. 1, 2022 /CNW/ - Orford Mining Corporation (TSXV: ORM) (Orford) is pleased to report the completion of a 718 line-kilometre helicopter airborne electromagnetic ("EM") survey on its Joutel Eagle Gold Property ("Joutel Eagle") located along the historical Eagle-Telbel Mine Trend in the Abitibi Greenstone belt. Orford is now preparing for a 2,000 metre diamond drilling program on Joutel Eagle, which will focus on the South Gold Zone. The 50 square kilometre Joutel Eagle Property is being acquired By Orford through an option agreement from Globex Mining Enterprises Inc. ("Globex") (TSX: GMX) (OTCQX INTERNATIONAL: GLBXF) (FRANKFURT: G1MN).
David Christie, President and CEO of Orford, commented "Orford is eager to use the results of the airborne EM survey to guide its 2023 diamond drilling program. We are looking forward to testing the continuity of the South Gold Zone which was intersected in the 2022 drilling and to extend its strike. The 2023 drilling has the potential to outline a near-surface gold mineralized body that could be open pittable."
Orford completed a 718 line-km time-domain electromagnetic (TDEM) and Magnetic survey using the ProspecTEM TDEM system and Geometrics G-822A Airborne Magnetometer system operated by Prospectair Geosurveys Inc. The survey was completed at 100 metre line spacing and covers the entire Property. Preliminary results from the survey are used in mapping conductive marker horizons proximal to known gold mineralization, from the historical Telbel mine, north-westward through Joutel Eagle. The final products will allow us to fine tune the upcoming 2,000 metre drill program planned to commence in January 2023.
The 700m, three hole drill program completed in the spring of 2022 confirmed the location of near-surface historical gold mineralization (Figure 1) and reported grades of up to 14.7 g/t gold over 0.64 metres contained within a broader interval of 1.11 g/t gold over 20.64 metres (Table 1) in drill hole 22-JE-003. These are higher grades than those reported historically from the system in nearby historical hole 80-19 which reported up to 1.03 g/t Au over 1.45m from 96.7 to 98.1 metres1. The upcoming January 2023 drill program on Joutel Eagle will continue to focus on the south gold zone and will consist of approximately 10 holes, totaling approximately 2,000 metres to test continuity of mineralization along a 400m to 500m strike length of the south gold zone and additionally test several regional targets (Figure 1 & 2). The South Gold Zone is open along strike and to depth.
Table 1: Highlights of Joutel Eagle Drill hole assays (Previously Reported June 7, 2022). 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.
Hole Number |
Au (g/t) |
Length |
From |
To |
22-JE-001 |
0.51 |
0.31 |
38.27 |
38.58 |
22-JE-001 |
0.61 |
0.41 |
72.74 |
73.15 |
22-JE-001 |
1.26 |
0.50 |
100.00 |
100.5 |
22-JE-001 |
0.80 |
0.88 |
206.41 |
207.29 |
22-JE-001 |
2.00 |
0.65 |
213.09 |
213.74 |
22-JE-001 |
1.76 |
1.00 |
229.00 |
230.00 |
22-JE-002 |
0.59 |
4.60 |
96.13 |
100.73 |
22-JE-002 |
0.97 |
46.98 |
153.00 |
199.98 |
Including |
2.36 |
0.64 |
153.00 |
153.64 |
Including |
1.14 |
6.56 |
156.00 |
162.56 |
Including |
1.24 |
28.10 |
171.88 |
199.98 |
Including |
5.04 |
1.60 |
173.34 |
174.94 |
Including |
2.20 |
9.35 |
173.34 |
182.69 |
Including |
8.78 |
0.73 |
174.21 |
174.94 |
Including |
1.13 |
12.00 |
177.00 |
189.00 |
Including |
10.80 |
0.84 |
178.70 |
179.54 |
Including |
5.59 |
1.89 |
178.22 |
180.11 |
Including |
1.70 |
7.13 |
192.85 |
199.98 |
22-JE-003 |
1.30 |
0.48 |
48.42 |
48.90 |
22-JE-003 |
0.60 |
0.76 |
50.43 |
51.19 |
22-JE-003 |
1.40 |
0.50 |
52.47 |
52.97 |
22-JE-003 |
1.11 |
20.64 |
84.83 |
105.47 |
including |
3.64 |
4.23 |
85.84 |
90.07 |
Including |
2.49 |
0.63 |
85.84 |
86.47 |
Including |
3.62 |
0.85 |
86.47 |
87.32 |
Including |
14.70 |
0.64 |
88.76 |
89.40 |
Including |
1.34 |
0.67 |
89.40 |
90.07 |
Including |
1.89 |
0.57 |
92.29 |
92.86 |
Including |
4.41 |
0.39 |
92.86 |
93.25 |
Including |
2.86 |
0.35 |
96.28 |
96.63 |
Including |
2.29 |
0.33 |
102.14 |
102.47 |
22-JE-003 |
0.51 |
1.50 |
109.50 |
111.00 |
22-JE-003 |
1.78 |
4.15 |
124.85 |
129.00 |
Including |
2.78 |
1.10 |
125.81 |
126.91 |
Including |
2.29 |
0.69 |
126.91 |
127.60 |
Including |
2.11 |
0.60 |
128.40 |
129.00 |
Globex Option Agreement
On November 30, 2021, Orford announced that it had entered into an option agreement to acquire the 50 square kilometre Joutel Eagle Property in the historical Joutel camp within the Abitibi region of Quebec from Globex Mining Enterprises Inc. (TSX: GMX) (OTCQX INTERNATIONAL: GLBXF) (FRANKFURT: G1MN).
Orford announces that it intends to issue 1,428,571 common shares as the share portion of the first year anniversary payment of the definitive agreement with Globex, subject to TSX-V approval. The total first year anniversary payment is $200,000 split ½ cash and ½ shares. The cash portion has already been paid to Globex.
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 gold2 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 (Figure 1). 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.
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 two areas 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.
Cautionary Statement Concerning Forward-Looking Statements
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.
1 Report Number GM39763 and GM36699. Report number assigned to historical work in the Système d'information géominière of Québec "SIGEOM", Quebec Ministry of Energy and Natural Resources https://sigeom.mines.gouv.qc.ca/ |
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2 Système d'information géominière of Québec "SIGEOM" , Quebec Ministry of Energy and Natural Resources. April 20,2020 DV93-01 |
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3 Casa Berardi: Hecla Mining, Mineral Resources Statement as of December 31, 2019. https://www.hecla-mining.com/casa-berardi/ Estrades: Technical report on the Mineral Resources Estimate for the Estrades Project, Northwestern Quebec Canada. Galway Metals, November 5, 2018, Amended March 15, 2019. Eagle /Telbel: Système d'information géominière of Québec "SIGEOM", Quebec Ministry of Energy and Natural Resources. April 20,2020 DV93-01. Douay: Maple Gold Mines. Mineral Resource Statement as at October 24, 2019. |
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https://www.maplegoldmines.com/index.php/en/projects/douay-gold-project#isDouayResourceEstimate . Vezza: Mineral Resources Estimate for the Vezza Project, located 25 km south of Matagami, Quebec, Maudore Minerals Ltd. December 31, 2012. Poirier Copper/Joutel Copper: Système d'information géominière of Québec "SIGEOM", Quebec Ministry of Energy and Natural Resources. April 20,2020 DP346, GM44192. Sleeping Giant: Système d'information géominière of Québec "SIGEOM", Quebec Ministry of Energy and Natural Resources. November |
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13,2020. DV-2010-01 Mine Selabie: Système d'information géominière of Québec "SIGEOM", Quebec Ministry of Energy and Natural Resources. November 1,2021, DV 2000-02 |
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SOURCE Orford Mining Corporation
David Christie, President and CEO, 2 St. Clair Avenue West, 18th Floor, Toronto, ON M4V 1L5, T: 647-255-8037, www.orfordmining.com
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