Orford Launches Drill Program on the Joutel Eagle South Gold Zone
TORONTO, Jan. 23, 2023 /CNW/ - Orford Mining Corporation ("Orford") (TSXV: ORM) is pleased to report the mobilization of a diamond drill to the Joutel Eagle Gold Property to begin a 2,000 metre drill program focused around the South Gold Zone. The 2023 program will test 400 metres of strike along the South Gold Zone (Figure 1 & 2). Historical drilling results, confirmed by Orford's 2022 drill program, with grades of up to 14.7 g/t gold over 0.64 metres reported within a larger mineralized interval grading 1.11 g/t over 20.64 metres in hole 22-JE-003. In addition another interval of 1.24 g/t gold over 28.10 metres1 (Figure 1 & 2) was reported in hole 22-JE-002 as well as 2.0 g/t over 20.65 metres in hole 22-JE-001 confirming the location of the historical mineralized system.
David Christie, President and CEO of Orford, commented, "We look forward to the results of our second diamond drill program on the Joutel Eagle property. We believe the wide near-surface gold mineralization at the South Gold Zone shows some continuity vertically and along strike. It is our view that there is considerable value in Orford's reassessment and exploration of this historic gold camp and we look forward to the next phase of drilling at Joutel Eagle. Success showing continuity along strike at the South Gold Zone will allow us to move towards establishing a resource quickly."
The most developed mineralized zone on the Joutel Eagle property is the "South Gold Zone", which has been tested historically along a strike length of approximately 700 meters and is partially tested to a depth of 500 meters below surface (Figures 1 & 2). Orford's goal is to show continuity along strike and at depth, while also testing multiple conductive horizons to the north observed in the recently completed airborne electromagnetic survey2.
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1 Orford Mining News Release June 7, 2022. |
2 Orford Mining News Release December 1, 2022. |
The property is situated just to the northwest of Agnico Eagle's past producing Eagle-Telbel operation which produced more than 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 (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 Mining Enterprises Inc. (TSX: GMX) (OTCQX International: GLBXF) (Frankfurt: G1MM).
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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 explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik and West Raglan projects comprising a land package totaling over 80,000 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. Orford also recently acquired three 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 technical information presented in this release was 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
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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