Sep 25 2013
Orefinders Resources Inc. is pleased to announce that the ongoing bedrock mapping and sampling program at the Mirado project in Kirkland Lake has generated multiple high grade gold targets on the MZ claims, immediately adjacent to the Mirado patented claims.
A total of 37 surface samples returned gold results ranging from 0.028 g/t Au up to 137 g/t Au (with the second highest sample returning 65.5 g/t Au) in outcrops located approximately 700 m along strike from the Mirado gold deposit, where SRK Consulting (Canada) is preparing a preliminary NI-43-101 compliant resource estimate. These new target areas share coincident bedrock structural controls, IP chargeability and resistivity features the company considers to be similar in style to gold mineralization identified during the 2013 drilling campaign at Mirado. A bedrock trenching, mapping and channel sampling program has commenced on the MZ property in order to assess the economic potential of these high priority gold targets. A map indicating the location of these samples can be viewed on Orefinders website at www.orefinders.ca.
The MZ property consists of 10 contiguous staked mining claims comprising 1,800 acres surrounding the Mirado patent claims. Orefinders can earn a 100% interest in the MZ property by issuing 150,000 shares, making cash payments to the vendors totalling $95,000 and completing a work commitment of $375,000 by February 8, 2016. A capped 2% NSR can be purchased by Orefinders for $3 million. A map showing the location of the MZ claims at the Mirado gold project is available on our web site at www.orefinders.ca.
Bill Yeomans, P. Geo., President of Orefinders states that "The gold occurrences on the MZ property are readily accessible and ideally located near Mirado infrastructure. The trenching program now underway will assist us in gaining a better understanding of the significance of these occurrences. The option agreement in place for the MZ property provides a fast-track to 100% ownership through minimal cash payments, share issuances and work commitments."
On behalf of the Board of Directors
William Yeomans, P. Geo, President
Source: http://www.orefinders.ca/