Toronto, Ontario – September 22, 2021 – Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to announce the start of the 5,000 metre Phase 2 drilling program at its Knight Gold Project, located within the Shining Tree district of the southern Abitibi Greenstone belt, about 100 kilometres southwest of Kirkland Lake, Ontario. Drilling is expected to begin during the first week of October, 2021.
Phase 2 drilling will be focused on two exploration target zones, the Tyranite Zone which includes the past producing Tyranite gold mine and the Duggan Zone, both of which returned promising results from the Phase 1 drilling program. Drill targets for Phase 2 are identified using a combination of geological and assay data generated during Phase 1 drilling; geostatistical analysis of gold distribution in the drill hole database for the Tyranite and Duggan zones; and structural interpretations based on constrained 3-D inversion modeling of high-resolution aeromagnetic data (see News Release dated August 31, 2021).
Phase 2 will kick off at the Tyranite Zone where drilling will be focused on testing an interpreted moderately plunging trend to mineralization along the Tyranite shear structure, below and to the south of historical mine workings. The definition of drill targets at the Duggan Zone is ongoing and is expected to include step out drilling along strike of known mineralization.
Phase 1 Drilling : Details and Results
The Phase 1 drilling program at the Knight Gold Project included 26 drill holes representing 11,204 metres, that were completed between September, 2020 and April, 2021. Details of the Phase 1 program and results are reported in News Releases dated November 5, 2020; and January 29, February 11, May 10 and July 26 in 2021.
Background on the Knight Gold Project
Information on the location, geology, history and historical resources at the Knight Gold Project is presented on the Company’s web site at the following link :
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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Stephen Stewart, Chief Executive Officer