Orford Mining Provides Update on West Raglan Nickel Property Exploration plans for 2021

TORONTO, May 31, 2021 /CNW/ - In January 2021, Orford Mining Corporation (Orford) (TSXV: ORM) 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 property (the "Property") in Nunavik, Quebec. The West Raglan property is a camp scale, advanced Ni-Cu-Co-PGE exploration property covering an area of 83,964 hectares (839 km²) over the same belt that hosts the Raglan and Canadian Royalties mines to the east. Exploration to date has identified high-grade Ni-Cu-Co-PGE mineralization across more than 35 km strike of the 50 km West Raglan Project. Six significant discoveries have been made on the Property with the best results being from the Frontier Zone. The Frontier Zone contains five high grade mineralized lens clusters over a 2,500 meter strike with grades in the range of 2-3% Nickel, 1% copper and 2+gpt PGE (Table 1). The 2021 exploration season, will take place in July & August and will focus on ground geophysical (electromagnetic) and geochemical surveys to aid in identifying drill targets for 2022.

Figure 1: West Raglan Property Highlights (CNW Group/Orford Mining Corporation)

David Christie, President and CEO of Orford commented "We are excited to once again be actively exploring the West Raglan Project after a hiatus over a number of years.  The partnership with Wyloo Metals on the West Raglan project allows for a systematic exploration approach on one of the most prospective tracts of ground in Canada for high grade nickel mineralization in a proven nickel mining belt. We believe there will continue to be a resurgence in the nickel and cobalt markets as the electric vehicle battery demand continues to grow globally. We look forward to working with Wyloo Metals towards further discovery of nickel on the West Raglan Project."

Wyloo Metals can earn up to 80% in the West Raglan project by completing $25 million in exploration expenditures over 7 years, in addition to completing a feasibility study and making a cash payment to Orford mining.  The details of the agreement can be found in the January 19, 2021 Orford Mining press release.  A budget of approximately $1.7 million has been approved for 2021 with Orford Mining as the project operator.

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% Co¹). Information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties.

Historical work on Orford's West Raglan property has improved the geological knowledge and understanding of the area, and led to the identification of multiple Ni-Cu-PGE mineralized lenses in several zones of the Frontier area, all located along the main Chukotat-Povungnituk contact. Examples of drill hole intersections from the Frontier Zone are shown in (Table 1)

A review of the geological and geophysical data in the Frontier area suggests that portions of the area remain almost untested and still have the potential for additional Ni-Cu-PGE discoveries. More recent exploration work completed in 2015 has also highlighted surface Ni-Cu-PGE mineralization in other areas such as Red, Boomerang, and Beverly (Figure 1) along the north (Raglan) trend. The West Raglan property also covers the south group of rocks which hosts the Canadian Royalties deposits to the east. This part of the West Raglan property is largely unexplored, however minimal past work has identified high grade nickel and copper mineralization in grab samples (Figure 1). The 2021 work program will primarily focus on ground TDEM using very sensitive SQUID sensors at Frontier, Beverly and Boomerang along the North Trend and highly prospective portions of the South Trend. The use of SQUID TDEM at Raglan in the early 2000s increased exploration success by 58% while targeting 2.5 times deeper². This method has not previously been applied on the West Raglan property. Prospecting and mapping will be the principal focus of work on the South Trend group of rocks.

^1 Glencore Resources and Reserves Report as of Dec 31^st, 2019
^2 Osmond et al, 2002,  Finding Nickel from the B-Field at Raglan – 'To B or not dB', SEG Technical Program Expanded Abstracts 2002

Table 1: Examples of Drill Intersections of the Frontier Zone

Zone	DDH No.	From (m)	To (m)	Width (m)	Ni (%)	Cu (%)	Pt (ppb)	Pd (ppb)
Frontier South	WR-03-08	16.00	35.00	19.00	2.51	0.96	691	2379
Frontier East	WR-03-13	41.80	48.40	6.60	2.65	1.02	399	1652
Frontier Central	WR-03-14	20.75	29.50	8.75	3.26	1.40	949	3219
BT	WR-05-98	75.85	86.5	10.65	0.72	0.36	120	490
South/ Century	WR-07-128	217.20	222.50	5.30	3.28	0.56	442	1766
Century	WR-08-149	132.20	136.73	4.53	3.01	1.21	530	2130
Seahawk	WR-08-164	141.85	170.13	28.28	3.21	1.32	650	2430

Note: These intersections are some of the most significant, but not necessarily representative of the whole mineralized zones. All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.

Figure 1: West Raglan Property Highlights

Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.

Orford Mining Grants Stock Options

Orford announced today that it has issued a total of 100,000 stock options to a consultant to the company. The options, which are exercisable at $0.14 per common share, will vest over three years and expire ten years from the date of grant.

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 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 50 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 the Orford's 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.

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, 141 Adelaide St West, Suite 1608, Toronto, ON Canada M5H 3L5, T: [phone], www.orfordmining.com

Related Links

tbc