Orefinders Intersects 14.50 m @ 8.10 g/t Au Including 5.90 m @ 32.5(i) g/t Au (uncut) at Mirado Gold Project, Kirkland Lake
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/16/13 -- Orefinders Resources Inc. (TSX VENTURE: ORX) reports additional high grade gold results from six more drill holes (1,866 m) from its phase II diamond drilling program at the Mirado Gold Project in Kirkland Lake, Ontario. Highlights include hole MD13-19 which intersected 32.54(i) g/t Au (uncut) over 5.90 meters of consistent bonanza grade mineralization (see Table 1) within an interval of 14.50 meters at an average cut grade of 8.10 g/t Au. These latest results demonstrate good continuity of near surface high grade gold mineralization over broad widths in the South Zone, where recent drill results included 9.50m @ 59.2(i) g/t Au (Hole MD13-07) and 4.30 m @ 17.2(i) g/t Au (uncut) in hole MD13-06.
Highlights of high-grade gold zones intersected near surface and at depth
from these current drill results include:
14.50m @ 8.10 g/t Au in hole MD13-19, including 5.90m @ 32.5(i) g/t Au
2.30m @ 13.64(i) g/t Au in hole MD13-19
2.40m @ 5.73 g/t Au in hole MD13-21
Lower-grade gold zones intersected include:
24.00m @ 1.29 g/t Au in hole MD13-18, including 13.00m @ 2.03 g/t Au
33.00m @ 0.79 g/t Au in hole MD13-18, including 11.00m @ 1.65 g/t Au
29.20m @ 0.85 g/t Au in hole MD13-17
20.60m @ 0.77 g/t Au in hole MD13-20
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 86.8(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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Grade
Grade Au(i)
From To Interval Au (g/t)
Hole-Id (m) (m) (m) (g/t) Uncut
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MD13-17 52.30 81.50 29.20 0.85
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MD13-17 154.20 158.30 4.10 2.81
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Including 157.30 158.30 1.00 9.71
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MD13-17 192.40 212.00 19.60 0.70
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Including 196.20 206.00 9.80 1.13
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MD13-17 235.30 238.30 3.00 2.97
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Including 235.30 236.30 1.00 8.54
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MD13-17 242.30 244.80 2.50 6.22
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Including 243.30 244.00 0.70 21.20
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MD13-18 9.00 33.00 24.00 1.29
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Including 19.00 32.00 13.00 2.03
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Including 27.00 29.00 2.00 5.20
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MD13-18 50.00 83.00 33.00 0.79
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Including 61.00 72.00 11.00 1.65
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MD13-18 92.50 107.00 14.50 0.60
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MD13-18 113.90 140.00 26.10 0.47
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Including 119.00 123.00 4.00 1.58
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MD13-18 148.10 154.80 6.70 0.94
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MD13-19 61.60 64.80 3.20 1.45
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MD13-19 77.00 91.50 14.50 8.10 13.5(i)
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Including 82.10 88.00 5.90 19.23 32.5(i)
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82.10 83.00 0.90 4.84
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83.00 83.70 0.70 27.40
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83.70 84.40 0.70 5.06
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84.40 85.20 0.80 31.10 86.8(i)
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85.20 86.00 0.80 17.95
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86.00 86.70 0.70 31.10 64.6(i)
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86.70 87.40 0.70 31.10 42.2(i)
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87.40 88.00 0.60 5.95
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MD13-19 98.20 105.20 7.00 1.22
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MD13-19 141.90 144.20 2.30 12.46 13.6(i)
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MD13-20 15.00 35.60 20.60 0.77
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Including 25.30 28.00 2.70 3.21
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MD13-20 107.10 121.60 14.50 1.16
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MD13-20 110.90 115.30 4.40 2.56
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MD13-20 230.90 236.00 5.10 1.65
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Including 233.40 233.80 0.40 14.55
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MD13-20 278.90 289.90 11.00 0.62
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MD13-20 297.30 306.50 9.20 1.65
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Including 298.40 299.00 0.60 12.95
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MD13-21 19.70 24.20 4.50 1.07
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MD13-21 38.10 46.50 8.40 0.67
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MD13-21 201.90 219.00 17.10 0.76
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Including 208.60 211.90 3.30 2.78
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MD13-21 258.90 260.40 1.50 1.53
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MD13-21 268.60 276.20 7.60 1.95
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Including 268.60 271.00 2.40 5.73
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MD13-22 No Significant Results
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(i) represents uncapped gold grades
Twenty-seven (27) drill holes (8,416m) have been completed to date at Mirado, with assays from 6,811 m of drilling having been reported, and the remaining 1,605 m of drill core currently in the process of being assayed.
Drill holes MD13-17 to MD13-21 were collared in the Mirado South Zone proximal to historic open pit and underground mine workings. These holes have further defined near surface gold mineralization with bulk tonnage potential, as well as continuous high-grade gold bearing structures along strike and at depth. Drill hole MD13-22 was collared east of the shaft in the north zone and targeted a separate geophysical anomaly with no significant results. 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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MD13-17 45 -50 305 South
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MD13-18 45 -50 308 South
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MD13-19 45 -60 302 South
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MD13-20 45 -45 371 South
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MD13-21 45 -45 278 S-N
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MD13-22 45 -45 302 NE
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total metres being reported 1866
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Bill Yeomans, P. Geo., President and CEO of Orefinders, states that "The South Zone continues to report extremely high grade gold intercepts of potentially bulk mineable gold mineralization. Mineralization has been defined by drilling over a minimum strike length of 200 meters and remains open along strike and at depth."
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
