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Orefinders releases Mirado Project's Geologic Interpretations, 3D Models and Exploration Plans
Orefinders releases Mirado Project's Geologic Interpretations, 3D Models and Exploration P...
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[{"type":"text","content":"\n\n\n\nOrefinders releases Mirado Project's Geologic Interpretations, 3D Models and Exploration Plans\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 8, 2018\n\n\n\nTORONTO, Nov. 8, 2018 /CNW/ - Orefinders Resources Inc. (\"Orefinders\" or the \"Company\") (TSX.V: ORX) is pleased to present its exploration plans, 3D geologic models and geologic interpretations for its Mirado Project located to the southeast of Kirkland Lake, Ontario. A PEA was released in January 2018 highlighting the highly economic South Zone Open Pit zone of the Mirado Project, with a 158% IRR, an after-tax NPV at a 5% discount rate of $20.5 million, and a payback on initial capital of 7 months. The Mirado project has a current mineral resource estimate of 559,000 tonnes at an average grade of 2.61 g/t gold for 46,900 ounces (indicated resources), and additional inferred resources of 382,000 tonnes at an average grade of 2.66 g/t gold for 32,700 ounces, based on a cut-off grade of 1.0 g/t gold.\nLinks to Orefinders McGarry Presentation and 3D Video of the Property's Geology:\nOrefinders' Mirado Project Presentation Mirado 3D Geology Flyby Video \"This data compilation and 3D geological interpretation is a part of Orefinders process to define what our assets are, so that we can intelligently design our exploration and drilling programs. Having now compiled and integrated all previous work, this process is essentially complete not only for Mirado but for all of our existing assets. The results of this exercise complement the PEA released earlier this year, and provides areas of focus, along with a plan for moving forward. The entire data compilation process is a critical step in understanding the fundamental value that our projects offer, and it is also vital to have a well organized and complete database, along with a solid understanding and plan for the asset,\" said Stephen Stewart, Orefinders CEO.\nMirado Geology Interpretations & 3D Models\nThe 3D model that was defined by Leapfrog is consistent with pervious interpretations. The geology hosting the M...