Orefinders Resources Inc. (TSX VENTURE:ORX) report results from a further three holes from the recently completed Phase I diamond drilling program at the Mirado Gold project near Kirkland Lake, Ontario. Additional significant gold zones were intersected in all three holes being reported. Gold zones were intersected at or near surface, including 61.30m @ 1.46 g/t Au in hole MD13-06 and 46.10m @ 1.33 g/t Au in hole MD13-03. In calculating these intervals, numerous high grade gold zones were capped at 31.1 g/t Au, with uncut values in excess of 31.1 g/t capped to 31.1 g/t Au; uncapped grades, where reported, (such as 124(i) g/t Au) are indicated with an asterisk ((i)).
MD13-03 intersected multiple gold zones with highlights including:
— 2.27 g/t over 10.50m (from 56.80-67.30m);
— 15.86(i) g/t over 3.80m (from 104.10m-107.90m) including 108.5(i) g/t
— 1.33 g/t over 46.10m (from 136.20m-182.30m) including 1.93 g/t over
26.90m and including 124(i) g/t over 0.70m (from 163.1m-163.8m). See
Table 1 below.
MD13-06 intersected a large continuous gold zone starting from surface with
— 1.46 g/t over 61.30m (from 1.05m-62.80m) including 3.99 g/t over 11.20m
(from 51.60m-62.80m) and including 17.21(i) g/t over 4.30m (from 56.30m-
Highlights of MD13-04 include:
— 0.82 g/t over 16.65m (from 62.00m-78.65m);
— 0.95 g/t over 10.60m (from 91.90m-102.50m)
— 4.25 g/t over 5.95m (from 114.15m-120.10m) including 21.20 g/t over
True widths are estimated to be 80% of reported widths. Numerous high grade gold zones were cut, with uncut values reporting up to 124(i) g/t Au capped to 31.10 g/t Au. The capping strategy utilized by Orefinders, where high grade gold values were cut back to 31.1 g/t Au, addresses extremely high grade gold intercepts higher than 31.1 g/t Au intersected in drill core at the Mirado project. The capped gold values provide a more conservative and representative drill hole gold grade estimate in gold deposits where coarse visible gold is abundant.
MD13-03, MD13-04, and MD13-06 were all drilled in the Mirado South Zone proximal to historic open pit and underground mine workings. These results are encouraging and continue to help further define near surface gold mineralization with bulk tonnage potential.
Reported drill holes were part of the initial Phase I diamond drill program on the Mirado Gold Project consisting of seven diamond drill holes totalling 2,058m. MD13-03 and MD13-04 were drilled at an azimuth of 225 and a dip of -45 degrees to a depth of 251m and 329m respectively. MD13-06 was drilled at an azimuth of 090 degrees and a dip of -45 degrees to a depth of 200m.
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We acknowledge the [financial] support of the Government of Canada.