TORONTO, May 25, 2022
/CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company")
(TSXV: ORX) is pleased to update shareholders on its now complete
drill program at its McGarry Project. The drill program completed
5,433 metres of diamond drilling over 11 holes. Samples have been
sent to the laboratory for assaying and the Company expects to
receive the results in early June. Orefinders cautions the timing
of lab results has been unpredictable.
The Company is now planning its next drill program on its Knight
Project in the Shining Tree Distring of Ontario.
Details of McGarry Phase 1 Drill Program
Orefinders' McGarry project is immediately adjacent to the
Kerr-Addison Mine. Drill targets for the Phase 1 program were
defined based on the results of advanced 3-D constrained inversion
modeling performed by Mira Geoscience of new geophysical data sets
generated by an ORION SWATH survey performed for the Company by
Quantec Geoscience (NR dated March 1,
2021). The new geophysical data sets include both IP
(induced polarization) and MT (magnetotelluric) data that together
provide high resolution coverage of the Project to depths of around
2,500 meters, which allows for more detailed modeling of the
geology and structures at the Project than was previously possible,
and for the identification of high priority drill targets.
The Phase 1 drill program and the geological, structural and
geophysical context of the high priority drill targets are
presented at the following link:
McGarry Phase 1 Drilling Program
QP Statement
The technical information in this news release has been reviewed
and approved by Jared Beebe P.Geo.,
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 TSX Venture Exchange under the symbol ORX. Agnico Eagle
Mines Limited (TSX:AEM) holds an option to acquire up to a 75%
interest in Orefinders Knight and McGarry projects (the "Projects")
in exchange for spending $60 million
on the Projects.
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.
For the latest updates, please contact or follow us on Twitter
@OrefindersR
SOURCE Orefinders Resources Inc.
