TORONTO, Aug. 31, 2021 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSXV: ORX) is pleased to announce
that Mira Geoscience has been commissioned to complete integrated
3-D geophysical and geological modeling and Artificial Intelligence
(AI)-driven exploration targeting programs on Orefinders' Knight
and McGarry Gold Projects, in the southern Abitibi Greenstone Belt,
Ontario. The two modeling programs
are designed to generate high priority drill targets for upcoming
drilling campaigns in Q4 2021 through Q2 2022.
The Knight Project is located within the Shining Tree district
of the southern Abitibi belt about 100 kilometres southwest of
Kirkland Lake, Ontario. The 3-D
geophysical inversion modeling will be carried out using
Orefinders' proprietary high resolution aeromagnetic data set and
will be constrained using data from the recently completed Phase 1
drilling campaign (News Releases dated May
10, 2021 and July 26,
2021).
The McGarry Project is located adjacent to the past-producing
(11.5 Moz Au) Kerr Addison mine,
near Virginiatown, Ontario. The
3-D integrated geophysical and geological modeling will include
newly generated deep-penetrating MT (magnetotelluric) and IP
(induced polarization) data as well as public domain aeromagnetic
data. Drill targeting at McGarry will apply AI methods to the
integrated models along with the extensive historical drill hole
database.
The 5,000 metre Phase 2 drilling campaign at the Knight Project
is expected to kick off in October, 2021. Drill targets will
be identified based largely on the structural model that will be
derived from the geophysical inversions and also on recently
completed geostatistical analyses of gold distributions at the
Tyranite and Duggan exploration target zones.
Drilling to test the AI generated targets at McGarry is
scheduled for Q2 of 2022. The total metres that will be drilled at
McGarry will depend largely on the number and depths of the
generated drill targets and is expected to be between 5,000 and
10,000 metres.
Technical Detail on the Geophysical Modeling and
Targeting
Geophysical inversion at the Knight Project will benefit from
the availability of a proprietary high resolution aeromagnetic data
set derived from a heli-borne magnetic survey with 15 metre flight
line spacing and 35 terrain clearance. Constraints for the
inversion modeling will include geological, magnetic susceptibility
and structural data collected from Orefinders' Phase 1 drilling
campaign as well as 3-D geological and structural models generated
in-house by Orefinders using the drill hole database for both the
Tyranite and Duggan target zones.
Integrated geophysical and geological modeling at the McGarry
Project will include newly generated data provided by the ORION
Swath DCIP-MT survey completed on April 2,
2021 by Quantec Geoscience (News Release dated June 11, 2021) as well as public domain
aeromagnetic data, and an extensive historical drill hole database.
Drill targets will be generated by applying AI methods to the
analysis of the integrated models and the historical drill hole
database.
Background on the Knight and McGarry Gold Projects
Information on the location, geology, history and historical
resources at the Knight and McGarry Gold Projects are presented on
the Company's web site at the following links:
Knight Project Information
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.
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SOURCE Orefinders Resources Inc.
