VANCOUVER, BC, Jan. 27, 2021 /CNW/ - Orea Mining
Corp. ("Orea") (TSX: OREA) (OTCQX: OREAF) (FRA:
3CG) is pleased to report on the 2020 drilling program
at the Maripa gold project ("Maripa") located in
French Guiana, France.
- 8 diamond drill holes were completed to date on the Maripa
exploration permit;
- 6 of the 8 drill holes served to test the depth and lateral
extent of 3 gold mineralized shear-hosted vein systems traced at
surface;
- 4 drill holes intersected wide shear zones marked by quartz
veining, strong hydrothermal alteration, and sulfide mineralization
over 18 to 27 meters;
- Re-sampling of historical core of drill hole MAR-06-008
confirmed original results with new results averaging 4.07 g/t gold
over 36 meters;
- Initial results from the current drill program have
confirmed gold mineralization in the shear zones;
- The structural model for follow-up drilling is being
re-assessed in light of the initial drilling results to establish
the controls on higher-grade gold mineralization as obtained in
surface samples and historical drill holes.
The 2020 diamond drilling operations were carried out from
October 15th to
November 25th with one
drill rig. A total of 8 diamond drill holes were completed for a
total 1,168 meters. The drill holes tested 4 separate targets on
the Maripa exploration permit, one of five exploration permits
making up the Maripa gold project:
- Drill holes MAR-20-013, -015 and -016 (3) further investigated
the Filon Dron shear-vein system discovered in 2006 with best drill
hole intersections of 2.45 g/t gold over 25.5 meters and 4.18 g/t
gold over 36 meters;
- Drill holes MAR-20-012 and -014 (2) provided an initial test of
artisanal mining Site #1 shear-vein system discovered during the
2019 prospecting program with best surface sampling results of
5.84, 11.45 and 86.80 g/t gold;
- Drill hole MAR-20-011 (1) provided an initial test of artisanal
mining Site #4 shear-vein system also discovered during the 2019
prospecting program with best surface sampling results of 6.36,
6.60, 9.70, 11.08, 13.07 and 15.22 g/t gold;
- Drill holes MAR-20-017 and -018 (2) investigated untested
gold-in-soil anomalies along the faulted contact between Paramaca
Formation volcanic rocks and Upper Detrital Unit ("UDU")
sediments.
Refer to the following links to view the Filon Dron drill hole
location map and results table:
Maripa Project
Location:
|
www.oreamining.com/i/nr/2021-01-27-map-maripa.pdf
|
Filon Dron Drill
Hole Locations:
|
www.oreamining.com/i/nr/2021-01-27-map-filondron.pdf
|
Filon Dron
Drilling Result Table:
|
www.oreamining.com/i/nr/2021-01-27-table-filondron.pdf
|
The promising Filon Dron prospect located in the central part of
Maripa, is one of the five partially drill-defined gold zones at
Maripa. The initial discovery drill program at Filon Dron,
consisting of 7 shallow core holes carried-out by IAMGOLD
Corporation in 2006, was limited to a 400-meter by 200-meter area
of an extensive gold-in-soil anomaly. Two (2) of the 7 cored holes
returned important gold mineralized intersections within the
surface weathered saprolite layer of 2.45 g/t gold over 25.5
meters, including 3.17 g/t gold over 13.5 meters, obtained in drill
hole MAR-06-007, and 4.18 g/t gold over 36.0 meters, including 7.17
g/t gold over 18.0 meters, obtained in drill hole MAR-06-008,
defining a wide gold mineralized zone striking north-northwest,
parallel to the local stratigraphic and structural trends.
Prospecting by Orea in 2019 and 2020 led to the discovery of 3
additional shear-hosted vein systems exposed by artisanal mine
workings (Sites #1, #4 and #5) in proximity to Filon Dron. Select
samples of quartz veins and wallrock collected from the artisanal
mine workings and ore stockpiles returned high-grade gold values at
all 3 prospects, including: 5.84, 11.45 and 86.80 g/t gold at Site
#1; 6.36, 6.60, 9.70, 11.08, 13.07 and 15.22 g/t gold at Site #4;
and 38.87 g/t gold at Site #5 (see Orea's news release dated
September 26, 2019, November 26, 2019 and May
12, 2020).
Drill core from the current drill program obtained in fresh
rock, below the surface weathered saprolite zone, indicated that
the Filon Dron, Site #1 and Site #4 structures are typical of
shear-hosted mesothermal gold mineralization characterized by a
penetrative structural fabric, strong sericite-carbonate alteration
and injected with a network of shear and tension veins composed of
an assemblage of quartz, carbonate and lesser tourmaline. The veins
and wallrock are mineralized with up to 2% to 7% sulfides as pyrite
and lesser chalcopyrite. Specks of visible gold were observed in
drill holes MAR-20-012 and -013. The shear zones cut intermediate
and mafic volcanic rocks of the Paramaca Formation.
2020 Drilling Program Results
True widths are estimated at 80% of core length based on core
angles with the dominant structural fabric.
Filon Dron
Drill holes MAR-20-013, -015 and -016 investigated the Filon
Dron structure over a NW-SE strike extent of 400 meters.
- MAR-20-013 provided a 100-meter step out from the intersection
of 4.18 g/t gold over 36.0 meters obtained in historical drill hole
MAR-06-008. The drill hole cut a 24-metre sheared, veined, altered
and sulfide mineralized section that returned assays averaging 1.61
g/t gold over 6.6 meters.
- 1/4 core splits of historical hole MAR-06-008 confirmed the
original results with new results averaging 4.07 g/t gold over 36
meters;
- MAR-20-015 tested 50 meters downdip from the intersection
obtained in historical hole MAR-06-008. A best assay of 3.32 g/t
gold over 1 meter was returned.
- MAR-20-016 provided a 125-meter step out to the north from the
intersection of 2.45 g/t gold over 25.5 meters obtained in
historical hole MAR-06-007. The hole was drilled within the surface
weathered saprolite zone. A best assay of 3.25 g/t gold over 1
meter was returned.
Site#1
Drill holes MAR-20-012 and -014 were spaced 300 meters apart
along the NW-SE strike extent of the structure traced at
surface:
- MAR-20-012 cut a 27-meter sheared, veined, altered and sulfide
mineralized section that returned assays averaging 2.55 g/t gold
over 6.1 meters, including 3.54 g/t gold over 4.3 meters.
- MAR-20-014 cut an 18-meter section of quartz veining within
saprolite that returned assays averaging 0.50 g/t gold over 1.9
meters.
Site#4
Hole MAR-20-011 investigated Site #4 structure traced at
surface. The drill hole was positioned to test the depth extent of
a 3-meter wide quartz vein exposed at surface in artisanal mine
workings. Sampling of the vein at surface had returned a best assay
of 15.22 g/t gold. MAR-20-011 cut a 20-meter sheared, veined,
altered and sulfide mineralized section with veins up to 40
centimeters wide. Best gold mineralized sections obtained include
0.78 g/t gold over 4.95 meters, 1.77 g/t gold over 1.15 meter, 1.01
g/t gold over 3.6 meters and 0.74 g/t Au over 1.8 meter.
Paramaca / UDU Contact Zone
Drill holes MAR-20-017 and -018 served to investigate
gold-in-soil anomalies along the faulted contact between volcanic
assemblages of the Paramaca Formation and younger pull-apart basin
sediments of the Upper Detrital Unit (UDU). The contact is
recognized to be favorable loci for gold mineralization. The drill
holes principally traversed arenitic sandstones cut by sparse
quartz veins. No gold significant gold values were obtained.
Interpretation and Follow-Up
Structural controls and orientations of high-grade gold
mineralized vein sets and vein stockworks within the targeted shear
zones are being re-assessed in light of the initial drilling
results. The 2020 drill holes were preferentially oriented to cut
at high-angle the subvertical shear vein sets developed parallel to
the dominant structural fabric. High gold content is potentially
associated with vertically staked high density tension vein
stockworks developed within the subvertical shear envelops. Follow
up drill holes are being designed with alternated hole orientations
to test for staked high density vein stockworks.
Refer to the following links to view the conceptual structural
model and drill hole follow up design:
Maripa Conceptual Structural
Model: www.oreamining.com/i/nr/2021-01-27-structural-model.pdf
About Maripa
Orea entered into an agreement in July
2018 with IAMGOLD Corporation to acquire up to a 70%
interest in Maripa. Maripa is located in eastern French Guiana along a paved national road,
approximately 60 kilometers by road south of the capital city of
Cayenne. The project is comprised of up to 5 contiguous exploration
permits that cover an area of 120 square kilometers, namely the
Changement, Maripa, Orapu, Crique Véoux and Maripa Sud-Est
permits.
Past exploration at Maripa includes 134 core holes, for a total
of 9,000 meters, which partially defined 5 broad gold zones; namely
Changement, Filon Dron, Maripa Sud-Est, Rhyodacite and Filon Scieur. Drilling was limited to shallow
depths within the oxidized saprolite layer with all 5 prospects
returning drill hole intersections of economic interest with
demonstrated potential for expansion and mineral resource
delineation. Gold mineralization is associated with shear-tension
quartz vein systems and vein stockworks localized along major fault
zones marking a regional deformation corridor known as the Northern
Guiana Trough (NGT).
Initial prospecting by Orea in 2019 and 2020 in the north half
of Maripa led to the discovery of 5 new quartz-gold vein systems
(Sites #1 to #5) with high-grade potential in the vicinity of the
Changement and Filon Dron gold zones.
Technical Info, QA/QC and Qualified Person
Orea obtained all permits required to conduct drilling
operations. A mining work declaration ("DOTM") to conduct 5,000
meters of diamond drilling on the Maripa exploration permit was
submitted to and approved by the Direction Générale des
Territoires et de la Mer ("DGTM"), which regulates mining and
exploration activities in French
Guiana.
Diamond drill holes were bored with HQ-size core (63.5 mm) in
the upper weathered saprolite zone and telescoped to NQ size core
(47.6 mm) in fresh rock. The core was placed in heavy PVC plastic
core boxes with covers and transported by Orea personnel to the
Company's Matoury logging facilities, located at the outskirts of
Cayenne along National Road 2 (RN2), 65 km by road north of the
Maripa project. Orea personnel were present on site at all times
during the drilling program.
The core was photographed for reference and logged by Orea
geologists who also identified the sampling intervals. Samples were
collected by sawing the core in half; sample lengths vary between
0.7 and 1.3 meter. Individual half-core samples were sealed in
heavy duty cellophane plastic bags and placed by batch in sealed
polypropylene bags and delivered by Orea personnel to the Filab
Amsud depot in Cayenne for trucking to Filab Amsud laboratory in
Paramaribo, Suriname, an ISO
9001:2015 accredited laboratory. The remaining half-core is stored
in sturdy core racks at the Matoury logging facility. Samples were
assayed for gold by the fire-assay method using an atomic
absorption finish on a 50-gram pulp split. Samples above 10 g/t
gold are systematically re-analyzed with gravimetry finish.
Mineralized sections were also analyzed by ICP-MS multi-element
analysis, including copper.
A quality assurance and quality control program (QA/QC) was
implemented by Orea and Filab Amsud to ensure the accuracy and
reproducibility of the analytical method and results. The QA/QC
program includes the insertion of gold standards, blanks and field
duplicates in each laboratory assay batch. Check assaying of select
gold mineralized sections was performed by screen metallics method
for better reproducibility when metallic gold is present in the
sample to overcome the "nugget effect". In this method, a 500g
sample is screened to 140 mesh (106µ). The plus fraction is fire
assayed for gold and a duplicate assay is performed on the minus
fraction. The size fraction weights, coarse and fine fraction gold
content and total gold content are reported.
The drilling program was conducted under the supervision Rock
Lefrançois, President & Chief Executive Officer of Orea and
Qualified Person under National Instrument 43-101, has reviewed
this news release and is responsible for the technical information
reported herein, including verification of the data disclosed.
About Orea
Orea is a leading gold exploration and development company
operating in a prospective and underexplored segment of the Guiana
Shield, South America. Its mission
is to develop gold deposits with a reduced environmental footprint
using innovative technologies, upholding the highest international
standards for responsible mining. In French Guiana, Orea holds a major interest in
the world-class Montagne d'Or mine development project. It is also
advancing the Maripa gold exploration project.
For more about Orea Mining visit the company's website at
www.oreamining.com
ON BEHALF OF THE BOARD:
Rock Lefrançois
President & CEO
Forward-looking statements
Certain statements and information contained in this press
release constitute "forward-looking statements" within the meaning
of applicable U.S. securities laws and "forward-looking
information" within the meaning of applicable Canadian securities
laws, which are referred to collectively as "forward-looking
statements". The United States Private Securities Litigation Reform
Act of 1995 provides a "safe harbor" for certain forward-looking
statements. Forward-looking statements are statements and
information regarding possible events, conditions or results of
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"could", "would", "might", "will" and similar words or phrases
(including negative variations) suggesting future outcomes or
statements regarding an outlook. Forward-looking statements in this
and other press releases include but are not limited to statements
and information regarding: the Company's plans, or modifications
thereunder, to develop Montagne d'Or; the construction and
development plans for the Montagne d'Or gold mine, including
anticipated timing thereof; the satisfaction of additional
requirements to the construction of the Montagne d'Or gold mine,
including but not limited to, the submission and processing of mine
permit applications; the Company's ability to renew the concessions
for the Montagne d'Or project and to comply with the conditions
thereof, the timing and rendering of a decision regarding the
development of the gold mining industry in French Guiana; the earning into of the Maripa
gold exploration project and related exploration objectives and
plans; the objective of the Company to become an emerging gold
producer; the acquisition of an advanced-stage gold project in
South America including its terms,
subsequent plans, intentions to acquire additional interests and
resulting effects; objectives for any projects Orea may acquire,
including completion of related feasibility studies. Such
forward-looking statements are based on a number of material
factors and assumptions and involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements, or industry results, to differ
materially from those anticipated in such forward-looking
information. You are cautioned not to place undue reliance on
forward-looking statements contained in this press release. Some of
the known risks and other factors which could cause actual results
to differ materially from those expressed in the forward-looking
statements are described in the sections entitled "Risk Factors" in
the Annual Information Form of Orea Mining Corp, (formerly Columbus
Gold Corp.), available on SEDAR under Orea's (formerly Columbus
Gold Corp.) profile at www.sedar.com. Actual results and future
events could differ materially from those anticipated in such
statements. Orea undertakes no obligation to update or revise any
forward-looking statements included in this press release if these
beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable law.
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SOURCE Orea Mining Corp.