May 19, 2015
Orefinders Announces Commencement of IP Geophysics Survey at Mirado Project
Orefinders Resources Inc. (TSXV-ORX) is pleased to report that the 2015 field work program has commenced on their 100% owned Mirado gold project. Approximately 20 kilometers of line-cutting and induced polarization (IP) survey will test the geophysical response over high grade gold occurrences identified and reported by Orefinders during 2014. The line-cutting and IP geophysics contracts were rewarded to CXS Canadian Explorations Services Ltd., from Larder Lake, Ontario.
In 2013, Orefinders demonstrated that deep-penetrating IP geophysical surveys responded extremely well across the Mirado gold deposit. Orefinders conducted a 12,000 meter, 40-hole drill program in 2013 which demonstrated that broad IP chargeability anomalies identified during a survey at the Mirado deposit in 2012 were associated with gold-enriched pyritic zones. In late 2013, SRK Consulting (Canada) Inc. (“SRK”) reported an inferred resource of 10,618,000 tonnes with an average grade of 1.29 grams per tonne gold in open pit, underground and three separate stockpiles for the Mirado gold deposit (see Dec. 9, 2013 Orefinders press release for details). Drilling results reported by Orefinders throughout 2013 demonstrated that 95% of drill holes from the program generated significant drill intercepts. The Orefinders Drill Hole summary tables and IP survey report (2012) for the Mirado deposit can be reviewed at www.orefinders.ca under Mirado – Technical Reports. A vertical IP cross section across the centre of the Mirado deposit is also presented, with well-defined IP chargeability feature plotted relative to SRK’s conceptual open pit outline. The chargeability features in the section extend well beyond SRK’s current conceptual open pit outline.
The upcoming line-cutting and IP survey will test previously trenched favorable structures known to host high grade gold mineralization located near the Mirado gold deposit. Several kilometers of similar host rocks will be targeted by the IP survey, where large areas of favourable geology have never been previously tested by diamond drilling. Any favorable IP targets identified by this survey will be systematically evaluated and explored during the remainder of 2015.
William Yeomans, P. Geo
For further information, please contact
William Yeomans, P. Geo., President