Orefinders Intersects 8.20 m @ 10.58 g/t Au within 30.20 m @ 4.03 g/t Au at Mirado Gold Project, Kirkland Lake
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/13 -- Orefinders Resources Inc. (TSX VENTURE: ORX) reports additional high grade gold results from an additional six drill holes (1,589 m) from its Phase II diamond drilling program. These latest results targeted the South Zone at the Mirado Gold project near Kirkland Lake, Ontario. All six holes being reported intersected significant high-grade and broad lower-grade gold zones.
Highlights of High-grade gold zones intersected near surface and at depth, include:
8.20m @ 10.58 g/t Au in hole MD13-12, including 3.10m @ 19.28 g/t Au
13.50m @ 4.72(i) g/t Au in hole MD13-14, including 0.60m @ 91.9(i) g/t Au
(uncut)
10.50m @ 3.99 g/t Au in hole MD13-15
0.80m @ 29.4 g/t Au in hole MD13-16
Lower-grade gold zones intersected include:
30.20m @ 4.03 g/t Au in hole MD13-12
34.40m @ 1.80 g/t Au in hole MD13-15
43.30m @ 1.01 g/t Au in hole MD13-11
35.10m @ 1.02 g/t Au in hole MD13-14
A complete list of relevant gold intersections is presented in Table 1 below.
In calculating these intervals, 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 91.9(i) g/t Au) are indicated with an asterisk ((i)). True widths are estimated to be 80% of reported widths.
Table 1. Reported Gold Intersections - Mirado Gold Project
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From To Interval Grade Au Grade Au(i)
Hole-Id (m) (m) (m) (g/t) (g/t) Uncut
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MD13-11 14.00 57.30 43.30 1.01
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Including 14.00 16.50 2.50 6.19
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MD13-11 132.60 133.30 0.70 4.11
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MD13-11 184.80 186.30 1.50 6.31
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MD13-11 212.00 213.50 1.50 4.37
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MD13-11 305.60 307.90 2.30 1.48
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MD13-12 36.40 55.00 18.60 0.46
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MD13-12 62.80 93.00 30.20 4.03
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Including 62.80 71.00 8.20 10.58
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and including 63.80 66.90 3.10 19.28
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MD13-13 71.70 74.90 3.20 1.18
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MD13-13 91.30 94.70 3.40 0.95
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MD13-13 153.40 155.60 2.20 2.14
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MD13-13 161.30 170.90 9.60 0.93
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Including 169.10 170.90 1.80 4.22
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MD13-14 56.40 91.50 35.10 1.02
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Including 83.00 87.20 4.20 2.35
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MD13-14 103.90 119.30 15.40 0.70
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Including 108.20 111.20 3.00 1.94
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MD13-14 263.30 269.90 6.60 1.59
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Including 267.80 268.70 0.90 9.78
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MD13-14 311.70 325.20 13.50 2.02 4.72(i)
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Including 315.00 319.00 4.00 5.72 14.84(i)
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and including 318.40 319.00 0.60 31.1 91.9(i)
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MD13-15 21.60 31.40 9.80 0.81
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Including 30.50 31.40 0.90 5.00
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MD13-15 60.10 94.50 34.40 1.80
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Including 80.50 91.00 10.50 3.99
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MD13-16 15.20 16.20 1.00 2.08
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MD13-16 23.20 35.00 11.80 0.53
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MD13-16 57.60 58.40 0.80 29.40
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MD13-16 125.00 132.60 7.60 2.04
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Including 130.70 131.60 0.90 14.90
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MD13-16 144.50 152.80 8.30 0.60
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(i) represents uncapped gold grades
Twenty-seven (27) drill holes (8,402m) have been completed to date at Mirado, with assays from 4,945 m of drilling having been reported, with the remaining 3,457 m of drill core currently in the process of being assayed.
All reported drill holes were drilled in the Mirado South Zone proximal to historic open pit and underground mine workings. These holes were designed to extend and further define zones of known gold mineralization. Results continue to be encouraging and will help to further define near surface gold mineralization with bulk tonnage potential, as well as continuous high-grade gold bearing structures intersected along strike and at depth. Drill hole orientations are provided in Table 2.
Table 2. Drill hole details
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Hole-Id Azimuth Dip Depth (m) Zone
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MD13-11 225 -45 347 South
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MD13-12 225 -45 152 South
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MD13-13 225 -45 198 South
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MD13-14 225 -45 365 South
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MD13-15 225 -45 225 South
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MD13-16 225 -45 302 South
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total metres reported 1589
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Bill Yeomans, P. Geo., President of Orefinders, states that "Orefinders continues to report outstanding high grade intervals of gold mineralization over significant widths at the South Zone, with excellent potential for both bulk tonnage mineralization as well as deep seated high grade mineralization over robust grades and widths. Orefinders is the first company to test the deposit well below 150 meters vertical depth on the property."
A drill-hole location map for this press release which includes the location of the all of the Phase 1 drill holes and Phase II drilling to date 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, 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.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Orefinders Resources Inc.
William Yeomans, P. Geo.
President
1-250-707-0911
byeomans@orefinders.ca
Orefinders Resources Inc.
Stephen Stewart
VP Corporate Development
1-416-644-1567
sstewart@orefinders.ca
www.orefinders.ca
