Canadian Orebodies Completes Smoke Lake Drilling and Commences Sampling Historic Core
TSX VENTURE: CORE
TORONTO, April 12, 2019 (GLOBE NEWSWIRE) -- Canadian Orebodies Inc. (the “Company”) (TSXV:CORE) is pleased to announce that it has completed its previously announced drill program to explore for the extension and potential additional high-grade gold-bearing veins in the Smoke Lake Gold System (“SLGS”) on the Black Raven property (see press release dated February 22, 2019).
This drill campaign consisted of 10 holes totaling approximately 1,305 metres, with a majority of the holes drilled off ice pads located on Smoke Lake. Management was particularly pleased with the drilling program and looks forward to receiving the assay results. All drill core has been cut and shipped to Activation Laboratories Ltd. in Thunder Bay, ON for preparation and assay, and results will be press released once interpreted.
The Company has also commenced an extensive re-logging, sampling and digitization program to interpret the geological controls on the distribution of gold in the Wire Lake Gold System (WLGS). The sampling program will focus on alteration zones that went unrecognized in past exploration activities. The Wire Lake Gold System extends over a strike length of 3 km and has a complex and protracted history of tectonic deformation, gold mineralization, hydrothermal alteration and magma injections.
The historic and 2017 drilling revealed that the WLGS consists of broad zones of gold mineralization in a volcanic sequence characterized by an alteration package which is not visually evident. An on-going review of the sampling patterns in the historic holes completed in the WLGS has revealed that sampling of the core did not occur in areas now recognized as zones of potential gold mineralization.
The objectives of the sampling program are to confirm if zones of significant mineralization have gone undetected and to develop a better understanding of the geological and structural controls of the gold mineralization. The company anticipates that a better geological understanding of the mineralization footprint and controls of the WLGS will lead to new and improved exploration targets with the expectation of expanding the mineralized zones and lead to the discovery of new zones of higher-grade mineralization.
Analytical methods and Quality Assurance/Quality Control (QA/QC”) Measures
Canadian Orebodies has implemented a quality-control program to comply with best practices in the collection and analysis of rock samples. All drill cores are BTW in size and assays are completed on sawed half-cores, with the second half of the core kept for future reference. Groups of samples are then placed into durable rice bags and then transported in security-sealed bags to Activation Laboratories Ltd. in Thunder Bay, ON for preparation and assay. Routine gold analyses are fire assay with an AA (atomic absorption) finish whereas samples with visible gold or rich in quartz veins and sulfides are analysed using 1-kilogram metallic screen fire assay. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.
In addition to the standard quality control of the laboratory Canadian Orebodies has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, the Company inserts external gold standards and blanks every 20 samples.
This press release has been prepared under the supervision of Mr. Quentin Yarie (P.Geo.), who is a consultant to the Company and a “qualified person” (as such term is defined in National Instrument 43-101). Mr. Yarie has verified the technical data disclosed in this press release.
About Canadian Orebodies Inc.
Canadian Orebodies is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. Canadian Orebodies is focused on generating shareholder value through the advancement of its two Hemlo area projects: Wire Lake and the North Limb.
For more information please contact:
Gordon McKinnon, President & CEO
Canadian Orebodies Inc.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Canadian Orebodies, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.