Newly received results from drill hole TYR20-004 define two mineralized intervals (Table 1).
1. 15.6 g/t gold over 3.6m between 604.4m and 608m downhole.
- The intersection is hosted by sheared metavolcanic rocks 200 metres below the mine's previously excavated zone and approximately 80 metres to the north of previous reported mineralized intervals from drill hole TYR20-001 (News Release of
November 5, 2020 ). - This high-grade intersection is hosted by a sheared zone within the footwall (about 60 metres structurally below) the historically mined Tyranite fault structure. The footwall structure hosting that mineralized zone may be linked to a similar structure that deforms a syenitic intrusive body in drill hole TYR20-001 and that hosts a previously reported mineralized interval in that drill hole. Ongoing structural analysis should validate that interpreted structural continuity.
- This mineralized interval includes an assay of 42.1 g/t over 0.8 m (Table 1).
2. 2.2 g/t gold over 9.0m between 530m and 539m downhole.
- The mineralized interval is hosted by sheared metavolcanic rocks within the Tyranite fault structure, which was the primary target of the drill hole and about 145 metres below the mine's previously excavated zone.
- The mineralized interval includes two higher grade assays for 1 metre sample lengths including 4.6 g/t from 530 metres; 6.9 g/t from 538m.
Assay Laboratory Delays
Orefinders would like to update shareholders that it has faced significant delays in the receipt of its assays results. The Company has kept in close communications with the laboratory which has communicated that the previous backlog of results is expected to improve substantially.
Drilling of TYR20-004 was completed on
Table 1. Mineralized Intervals from Drill Hole TYR20-004 | |||||
From (m) | To (m) | Sample | Assay Result | Interval | Interval |
530 | 531 | 1 | 4.6 | ||
531 | 532 | 1 | 1.2 | ||
532 | 533 | 1 | 1.9 | ||
533 | 534 | 1 | 0.8 | ||
534 | 535 | 1 | 0.6 | ||
535 | 536 | 1 | 0.1 | ||
536 | 537 | 1 | 1.6 | ||
537 | 538 | 1 | 1.9 | ||
538 | 539 | 1 | 6.9 | 2.2 | 9.0 |
604.4 | 605.4 | 1 | 13.4 | ||
605.4 | 606.2 | 0.8 | 42.1 | ||
606.2 | 607 | 0.8 | 8.8 | ||
607 | 608 | 1 | 2.1 | 15.6 | 3.6 |
Further Technical Detail on TYR20-004 and Ongoing Drilling at the
TYR20-004 was designed primarily to validate the continuity, at depth, of the mineralized Tyranite Shear structure beneath the historical workings at the
The mineralized intervals reported here are grade composites calculated using the Leapfrog Geo 3-D modeling software platform and applying a 2.0 g/t cut-off grade for composited intervals.
The drilling program at Knight is focused on three target zones described in a news release dated
QP Statement
The technical information in this news release has been reviewed and approved by Dr.
About
Orefinders is a Gold exploration and development company focused exclusively on the Abitibi Greenstone Belt. The Company is listed on the
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.
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