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Orford spots visible gold at Qiqavik

Orford Mining (TSXV: ORM) has reported discovering visible gold in a newly defined corridor as summer exploration wrapped up at its Qiqavik gold project in northern Quebec.
Orford spots visible gold at Qiqavik Orford spots visible gold at Qiqavik Orford spots visible gold at Qiqavik Orford spots visible gold at Qiqavik Orford spots visible gold at Qiqavik

Orford’s exploration camp at Qiqavik in Quebec

Staff reporter

The company, which formed in 2017 after a spin-out of RNC Minerals' exploration assets, said it had expanded the project by 10% to cover the new, wide mineralised shear zone.

"We are excited to have discovered visible gold in the newly defined 7km+ IP Lake Shear corridor which may explain several high gold grain count glacial dispersion trains," president and CEO David Christie said.

Highlights from the first batches of rush grab samples included up to 20g/t gold at a new find at Esperance South and up to 79.3g/t in the IP Lake Shear corridor.

Partial assay results from diamond drilling included 2.8m at 3.31g/t within 32m at 0.71g/t at the Interlake Shear.

Christie said the company looked forward to receiving further results and planning its 2020 exploration programme.

Orford had raised about C$2.3 million (US$1.7 million) towards Qiqavik exploration in July through the issue of flow-through shares at 13c and 17c and hard dollar units at 10c.

After the placement, Alamos Gold held 22.2% of Orford and RNC 23.7%.

Orford shares spiked to 33c a year ago but have hovered around the 10c mark this year.

They closed down 1c or 9.5% to 9.5c yesterday to capitalise it at $9 million (US$6.8 million).