TORONTO, March 1, 2021 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSX.V: ORX) is pleased announce
the launch of a deep penetrating ORION SWATH ground-based
Geophysical Survey (the "Survey") on its McGarry Gold Project
located to the west of and adjacent to the former Kerr Addison Mine that produced approximately 11
million ounces of gold prior to closing in 1996.
"This sort of property wide survey, combining deep penetrating
IP (Induced Polarization) and MT (Magnetotelluric) technologies has
never been conducted on the McGarry properties. This approach is
aimed at delineating new exploration drilling targets that could
lead to new discoveries on a highly perspective project on the
Larder-Cadillac Structure," said Keith
Benn, Orefinders Vice President of
Exploration.
This Survey is designed to gather high resolution data to depth
that will be key to identifying exploration targets "under cover";
i.e., potential ore bodies that do not reach surface. Subsequent
modeling of the new data will allow the Company to prioritize any
newly identified exploration targets for a drilling program later
in 2021. The Survey will cover the near totality of the Project
including the regionally important Larder-Cadillac Structure that
hosts the Kerr Addison deposit and several other structural domains
that have the potential to host gold deposits.
Technical Detail on the Geophysical Survey
The Company has engaged Quantec Geoscience to carry out their
unique combined DCIP (DC Resistivity and Induced Polarization) and
MT (magnetotelluric) Geophysical Survey (ORION SWATH Survey)
covering the near totality of the McGarry Gold Project. The Survey
will employ a broad array of multi channel sensors to gather a very
large number of data points for electrical properties in the
geological subsurface thus generating a high-resolution data set
with coverage to significant depths (induced polarization to
approximately 600 – 700 metres depth; MT resistivity to
approximately 1500 metres depth). The Survey is expected to wrap up
in the first half of April. The resulting data set will allow for
high-resolution 3-D modeling of the McGarry Project and the
identification and prioritization of drilling targets.
Background on the McGarry Gold Project
Information on the location, geology, history and historical
resources at the McGarry Gold Project are presented on the
Company's web page at the following link :
McGarry Project Information
QP Statement
The technical information in this news release has been reviewed
and approved by Dr. Keith Benn,
P.Geo., Vice President Exploration for Orefinders, a Qualified
Person as defined in "National Instrument 43-101, Standards of
Disclosure for Mineral Projects."
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused
exclusively on the Abitibi Greenstone Belt. The Company is listed
on the Toronto Venture Exchange under the symbol ORX.
Neither TSX Venture Exchange nor its Regulation 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. 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 might
differ materially from results suggested in any forward-looking
statements. Orefinders' assumes no obligation 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 and until 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 the latest updates, please contact or follow us on Twitter
@OrefindersR
SOURCE Orefinders Resources Inc.
