News Releases
Orefinders Intersects 2.42 g/t Au over 26.70m and 1.19 g/t Au over 39.60m at the Mirado Gold Project, Kirkland Lake
February 20, 2013
Orefinders Intersects 2.42 g/t Au over 26.70m and 1.19 g/t Au over 39.60m at the Mirado Gold Project, Kirkland Lake
Orefinders Resources Inc. (TSX.V: ORX) is pleased to report results from the first two drill holes of its recently completed seven-hole Phase I diamond drilling program at the Mirado Gold project near Kirkland Lake, Ontario. Several significant gold zones were intersected in both holes starting near surface, including 26.7m @ 2.42 g/t Au in hole MD13-02 and 39.6m @ 1.19 g/t Au in hole MD13-01.
MD13-01 intersected multiple gold zones with highlights including 2.39 g/t over 10.30m (from 21.30-31.60m) and 1.19 g/t over 39.60m (from 74.50m-121.00m) including 3.06 g/t over 11.60m (from 82.40m-94.00m) and 2.56 g/t over 12.20m (from 240.50m-252.70m). Multiple additional low and high grade gold zones were also intersected and these are presented in Table 1 below.
Highlights of MD13-02 included 2.42 g/t over 26.70m (from 33.10m-59.80m) including 83.50 g/t over 1.00m (from 56.80m-57.80m) and 0.63 g/t over 30.70m (from 71.50m-102.20m) and 48.60 g/t over 2.00m (from 265.50m-267.50m). True widths are estimated to be 80% of reported widths. High grade gold zones with values reporting up to 137 g/t Au were capped to 31.10 g/t Au.
| Hole-Id | From (m) | To (m) | Interval (m) | Grade Au (g/t) | Grade Au (g/t) Uncut |
|---|---|---|---|---|---|
| MD13-01 | 11.60 | 12.10 | 0.50 | 17.05 | |
| MD13-01 | 21.30 | 31.60 | 10.30 | 2.39 | 8.56 |
| Including | 24.00 | 24.60 | 0.60 | 31.10 | 137.00 |
| MD13-01 | 42.80 | 64.00 | 21.20 | 0.62 | |
| MD13-01 | 81.40 | 121.00 | 39.60 | 1.19 | |
| Including | 82.40 | 94.00 | 11.60 | 3.06 | |
| MD13-01 | 147.00 | 158.00 | 11.00 | 0.86 | |
| MD13-01 | 195.00 | 199.80 | 4.80 | 0.78 | |
| MD13-01 | 250.00 | 250.90 | 0.90 | 31.10 | 33.00 |
| MD13-02 | 6.00 | 16.80 | 10.80 | 0.99 | |
| MD13-02 | 20.10 | 24.60 | 4.50 | 0.41 | |
| MD13-02 | 33.10 | 59.80 | 26.70 | 2.42 | 4.38 |
| Including | 56.80 | 57.80 | 1.00 | 31.10 | 83.50 |
| MD13-02 | 71.50 | 102.20 | 30.70 | 0.63 | |
| Including | 86.00 | 94.00 | 8.00 | 1.50 | |
| MD13-02 | 107.20 | 110.70 | 3.50 | 0.54 | |
| MD13-02 | 198.40 | 201.20 | 2.80 | 0.82 | |
| MD13-02 | 265.50 | 267.50 | 2.00 | 31.10 | 48.60 |
MD13-01 and MD13-02 were both drilled in the Mirado South Zone proximal to historic open pit and underground mine workings. These results are encouraging and will help to 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. MD13-01 and MD13-02 were drilled at an azimuth of 225 and a dip of -45˚ to a depth of 254m and 350m respectively.
A drill-hole location map for this press release which includes the location of the all of the Phase 1 drill holes is provided on the Orefinders website at www.orefinders.ca under a section called “Core Shack.” As the drilling progresses and new results are obtained, additional information will be added under the Core Shack section and will include press release drill-hole maps, drill sections, photographs of the reported mineralized drill core intervals, and other related information.
Gold values reported in this news release were obtained exclusively from diamond drill core. Drilling was completed by an independent contractor under the supervision of Orefinders’ technical staff. The core is then split and put into a sample bag which is labeled for each interval and a sample card tag put in each sample bag. Samples were picked up by ALS Chemex and sent to their sample preparation facility.
The analysis was conducted in ALS Chemex’s ISO 9001:2008 certified Vancouver, BC laboratory facility using fire assay method for gold with a gravimetric over-limit finish, and multi-element (ME-ICP41) techniques producing assays for a 35 element suite of minerals. All samples collected for analysis were processed using Orefinders’ strict QA/QC (quality assurance / quality control) program which includes the insertion of standards, duplicates and blanks for quality control of the samples. After the core is logged for each drill-hole, the location of each site is located using a differential GPS in UTM coordinates using NAD 83 datum.
The technical information contained in this news release has been reviewed and approved by Kevin Piepgrass, P.Geo, Vice-President Exploration for Orefinders, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”
On behalf of the Board of Directors
“William Yeomans”
William Yeomans, P. Geo
President
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking statements. Orefinders assumes no obligations to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders profile at www.sedar.com.
For further information, please contact:
William Yeomans, P. Geo.
President
Orefinders Resources Inc.
Phone: 1-250-707-0911
E-mail: byeomans@orefinders.ca
Or
Stephen Stewart
VP Corporate Development
Orefinders Resources Inc.
Phone: 1-416-644-1567
E-mail: sstewart@orefinders.ca
