Orford Mining Mobilizes Crews to Start Qiqavik and West Raglan 2021 Exploration Programs
TORONTO, July 2, 2021 /CNW/ - Orford Mining Corporation (Orford) (TSXV: ORM) is pleased to announce that crews have arrived at Camp Chukotat in Nunavik, Quebec to commence the 2021 exploration programs at our Qiqavik gold and West Raglan nickel/copper/PGM Projects (Figure 1). These are the first programs on these projects since 2019 after the area was closed to exploration during the summer of 2020 due to Covid 19 restrictions. Orford will spend approximately $3 million dollars in a program at Qiqavik concentrated on the IP Lake Structural Zone and will manage a $1.7 million multidisciplined program at West Raglan. In January 2021, Orford announced it had reached a definitive agreement with Wyloo Metals Pty Ltd (Wyloo Metals) for a $25.0 million earn-in and joint venture over Orford's 100% owned West Raglan Ni-Cu-Co-PGM property (the "Property") in Nunavik, Quebec. The 2021 exploration season for both Qiqavik and West Raglan will take place in July and August and both programs will operate out of Camp Chukotat.
David Christie, President and CEO of Orford commented, "We are excited to finally be back on the ground, exploring the Qiqavik and West Raglan Project after not being able to explore either project in 2020. This year marks the first year we have operated significant programs on both projects at the same time. The news flow from Orford's summer activities in Nunavik should be significant."
At Qiqavik the multidisciplined program will consist of the following components (more fully described in the Orford press release dated April 8, 2021):
- Glacial till sampling and analysis to more clearly define the significant IP Lake gold dispersion trains.
- Airborne magnetic and EM survey over the IP Lake Structural Zone area to help map geological features and define potential targets.
- Geological mapping and ground truthing of the best target areas.
- 1,500 metres of diamond drilling of the best targets.
Figure 1, Location Map showing Orford Mining's Qiqavik and West Raglan Properties.
At West Raglan the multidisciplined program will consist of the following components (more fully described in the Orford press release dated May 31, 2021):
- Ground EM with Squid sensor survey.
- Ground truthing and geological mapping.
- The goal is to define as many drill targets as possible.
About the Qiqavik Property
The Qiqavik Property covers the 40-km long Qiqavik Break, part of the Cape Smith Belt event which is of Paleoproterozoic age (1.8-1.9 billion years). This geologic era is marked by its significant metal endowment as illustrated by the important gold districts that occur worldwide related to geological events of Paleoproterozoic age. These include the Flin Flon-Snow Lake Belt, the Ashanti Gold Fields of West Africa, the Tapajos-Parima Belt of Brazil, and the Tanami Region in Australia2. The Cape Smith Belt is also home to Glencore's world class Raglan Mine.
Early-stage exploration work completed to date on the Qiqavik Property shows that high-grade gold and copper occurrences are structurally controlled and associated with secondary splay structures located along the district-scale Qiqavik Break Shear Zone which extends the full 40 km length of the Qiqavik Property.
About the West Raglan Project
The West Raglan property (Figure 1) is a large 839 km2 property situated in the Cape Smith Belt within the Nunavik Region of northern Quebec. West Raglan Ni, Cu, PGE, Co mineralization is hosted in the ultramafic units of the Lac Esker Suite (1.89-1.87 Ga). These ultramafic units host all known nickel sulphide mineralization in the Cape Smith Belt, including Glencore's Raglan mine (North Trend) and the Canadian Royalties, Nunavik Nickel mine hosted on the South Trend. The West Raglan property covers a 50-km strike of both the "North" trend, that hosts Raglan-style deposits, and the "South" Trend, that hosts Canadian Royalties-style deposits. Raglan is a first quartile cash cost nickel producer with one of the highest grade reserves amongst significant global nickel deposits (Proven and Probable Reserves as of December 2019 of 10.39 million tonnes at 2.81% Ni, 0.77% Cu, 0.83 g/t Pt, 2.03 g/t Pd and 0.06% Co[1]). Information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties.
About Orford Mining Corporation
Orford Mining is a gold explorer focused on highly prospective and underexplored areas of northern Quebec.
Orford's assets in the Nunavik region of northern Quebec include the Qiqavik and West Raglan projects comprising 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 55 km mineralized trend. In January 2021, Orford entered into an earn-in agreement whereby Wyloo Metals can earn up to 80% of the West Raglan Project for total expenditures of $25.0 million over 7 years.
In 2020, Orford acquired three new property positions (Over 20,000ha) 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. This information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties.
Orford continually seeks new gold exploration opportunities in North America.
Orford's common shares trade on the TSX Venture Exchange under the symbol ORM.
To view further details about Orford's exploration projects please visit Orford's website, www.orfordmining.com.
About Wyloo Metals
Wyloo Metals is the metals and mining subsidiary of Tattarang, one of Australia's largest private investment groups. Led by a multidisciplinary team of geology and financial professionals, Wyloo Metals manages a diverse portfolio of exploration and development projects and cornerstone interests in a number of public and private companies. Wyloo Metals seeks to work closely with all stakeholders to accelerate projects through the development cycle while meeting the highest international environmental, social and governance standards.
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1 Glencore Resources and Reserves Report as of Dec 31st, 2019 |
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.
The information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo. titled "NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada" effective February 20, 2017.
The information regarding work disclosed herein in respect of the Qiqavik Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services Geoscientifiques Inc. titled "NI 43-101 Technical Report on Qiqavik Project, Northern Quebec, Canada" effective September 14, 2017, and on Orford's news releases available on Orford's website and on SEDAR.
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.
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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