Orefinders launches 5000m drill program at Knight Gold project sw of Kirkland Lake
Orefinders Resources Inc. is the latest company to announce that drills will be turning on property in the Shining Tree/Gowganda area. The company has announced a 5,000 metre drilling program on its 100% owned Knight Gold Project, in the Shining Tree Greenstone Belt about 110km southwest of Kirkland Lake.
Drilling is expected to begin in September 2020, and an Ontario-based diamond drill contractor has been engaged to carry out the work. Orefinders views the Knight Project as having highly prospective geology with mineralization representing multiple styles. The geology of the Knight Project is similar to that of the Kirkland Lake-Larder Lake camp, in the southern Abitibi Greenstone Belt, 110 km to the northeast. Orefinders’ Knight Project is permitted to drill. The targets include:
- Tyranite Mine (11 holes, 4,500 metres)
- Testing continuity of mineralization at depths below the historical mine development where limited historical drilling has indicated the presence of high gold grades.
- Testing the continuity of mineralization along strike of the mineralized structure, to the north of the historical mine workings.
- Drill core from all holes will be orientated to permit the collection of detailed information on the orientations of geological structures.
- Porphyry Lake IP Anomaly Target (2 holes, 500 metres)
- The drilling target is identified as a near-surface high chargeability anomaly with an associated apparent resistivity anomaly, approximately 300m long.
- The geophysical anomaly represents a potential gold-enriched large hydrothermal alteration / mineralization system, an interpretation that is supported by results from historical drilling in the general area of the planned drilling.
The technical information contained in this news release has been reviewed and approved by Dr. Keith Benn, 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.” For the exploration undertaken by Orefinders all assay batches are accompanied by rigorous Quality Assurance procedures that include insertion of standards and blanks and verification assays in a secondary laboratory. Quality Control results, including the laboratory’s own control samples, are evaluated immediately on reception of batch results and corrections implemented immediately if necessary.
Options
Orefinders also announces that in accordance with the Corporation’s Stock Option Plan, a total of 2.4 million incentive options have been granted to officers, directors and consultants, all of whom have assisted in creating value for our shareholders to date. The option’s exercise price is $0.13 per share and they are exercisable for a period of five years from the date of issue.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused exclusively within the Abitibi Greenstone Belt. The Company is listed on the Toronto Venture Exchange under the symbol ORX.
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