TORONTO, Aug. 31, 2023 /CNW/ - Orford Mining Corporation (Orford) (TSXV: ORM) is pleased to announce it has discovered two new quartz vein gold systems (Gerfaut East and Central Intrusive, Figure 1) and a new copper showing (at Esperance) on its Qiqavik gold property. Orford completed drilling on both the new quartz vein gold systems and channel sampling on the copper showing and awaits assay results. The Qiqavik gold property (100% Orford) hosts high-grade gold occurrences at surface across its more than 40 km breadth in multiple project areas. The 2023 work focused on drilling, geophysics, and prospecting on the Gerfaut East, Central, Annick and Eric project areas of the belt. In total 34 Rotary Air Blast (RAB ) holes were drilled for a total of 2,435 meters and 32 line-km of ground IP (Induced polarization) surveys were completed. Orford is waiting for results from 88% of the 2620 samples taken from drilling and the 233 surface samples collected.
Figure 1: Map of the Qiqavik gold belt property with locations of 2023 work highlighted. Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. (CNW Group/Orford Mining Corporation)
Figure 2: Map of The Newly Discovered Gerfaut East vein system Project Area showing surface grab sample locations and results. Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. (CNW Group/Orford Mining Corporation)
Figure 3: Map of the Newly Discovered Central Intrusive vein system Project Area.
Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. (CNW Group/Orford Mining Corporation)
Figure 4: Map of the Esperance Gold and Copper Showing and Drill Results. Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. (CNW Group/Orford Mining Corporation)
Highlights
New gold-bearing quartz vein system discovered at Gerfaut East. Surface grab samples returned up to 32.3 g/t Au (Figure 2). Drill results pending.
New style of sulphide rich vein mineralization discovered in the Central Intrusive Zone. Surface and drill assays pending.
New mineralized zone discovered south of the Esperance Gold-Copper trend. Channel sample assay results pending.
David Christie, President and CEO of Orford commented, "The expertise of our field crews has been rewarded with new gold and copper discoveries on the vastly underexplored Qiqavik property. The ability of our team to continue to make new discoveries illustrates the high prospectivity of the Qiqavik property and how underexplored it remains."
The newly discovered Gerfaut East vein system is found within a NNE-trending structure that can be traced for over 400m along strike. The Gerfaut East vein system is comprised of a series of sulfide-bearing quartz veins outcropping up to 15 m in length containing galena, chalcopyrite and pyrite. This structural corridor hosts gold-bearing quartz veins cutting a felsic intrusive. Assays received to date from surface grab samples have returned up to 32.3 g/t Au (Figure 2). Six RAB drillholes were also completed in the Gerfaut East area. These holes intersected quartz veins within the top 50m of drilling. All drill hole assays are pending.
The newly discovered Central Intrusive vein system of the Qiqavik belt property is defined by a series of subparallel E-W shears with ankerite alteration and sulfide veins up to 2 cm in width containing galena, pyrite and arsenopyrite in local granodiorite boulders. Grab samples of quartz veins collected in nearby areas during previous program reported up to 30.8 g/t Au. Three holes were drilled in this area (Figure 3) that intersected altered granodiorite containing minor sulfides. Grab sample and drilling assay results for the Central Intrusive area are pending.
The Esperance area of the Qiqavik belt property hosts a trend of copper and gold mineralization over 4 km in length hosted in a basalt shear zone. In 2023, prospecting and mapping identified a new zone of semi-massive sulphide with up to 5% chalcopyrite hosted in a sheared basalt. The new mineralization outcrops discontinuously over 10 m by 25 m and occurs 200 m to the south of the main Esperance trend and may represent a secondary parallel mineralized zone (Figure 4). Four channel samples were collected totalling a 5.0 metre width of the exposed mineralization. Airborne EM conductors suggest the mineralization may extend to the east for 250m. Channel sample assay results are pending.
Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. Note that grab samples are selective by nature and values reported may not be representative of mineralized zones.
About Orford Mining Corporation
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.
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.
Sample shipments were sealed and shipped to AGAT Laboratories, Val-d'Or, Québec. All gold assays reported were obtained by standard fire-assaying on 30-gram for grab samples nominal weight with an atomic absorption spectroscopy finish or by gravimetric finish in the case of overlimit and on request (methods 202051 and 202064) 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). Standards and blanks were inserted at a minimum rate of 5% for grab samples 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 17025:201.
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
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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