- Orford Mining (TSXV:ORM) has staked two claim blocks along the Casa Berardi and Joutel Structures in northern Quebec
- One of the claim blocks, named Joutel South, is at the southern unexplored extension of the Joutel trend
- The Joutel trend contains Agnico Eagle’s founding gold mine Eagle/Telbel, which produced over 1 million gold ounces
- The other block, on Casa Berardi’s eastern extension, sits on the same mineral structure as Hecla Mining’s Casa Berardi mine
- Orford Mining (ORM) is in the grey, trading for 2.5 cents per share, with a market cap of $2.3 million
Orford Mining (TSXV:ORM) has staked two claim blocks along the Casa Berardi and Joutel mineral structures in northern Quebec.
The Casa Berardi mineral structure plays host to Hecla Mining’s Casa Berardi mine. That mine alone has produced over 2 million ounces of gold and has reserves of another 3.2 million ounces.
Orford’s McClure East Property is located on that Casa Berardi belt.
The Joutel trend plays host to Agnico Eagle’s founding gold mine, the Eagle/Telbel Joutel mine. That site went into production in the 1970’s and was mothballed in 1993, producing 1.1 million ounces over its lifetime.
The Joutel trend contains several copper and silver assets, including the famous Agnico site. It is also the site of Orford’s other stake, simply named the Joutel South property.
This bodes well for Orford, which has picked up stakes in mineral trends with track records of production and good investment returns.
Orford’s President and CEO, David Christie, said that the company was excited to explore this prospective belt.
“I started my career in the mid 1980’s exploring this belt and continue to believe it has tremendous untapped potential. The area has seen very little systematic exploration since 1993, when the Eagle Telbel mine closed” he said.
The two stakes, the Joutel South and McClure East properties, have seen minimal exploration work done since the 1980’s. Orford has stated that both properties would benefit from them conducting modern geophysical surveys and systemic exploration.
What limited exploration work has been on or near the properties has intersected mineralisation.
A drill hole from next to Joutel South returned 1.66 grams per tonne gold over 1 metre, and a grab sample returned 4.28 grams per tonne gold. At McClure East, a historic drill result returned 3.26 grams per tonne gold over half a metre.
While these results are not exactly sparkling, they do prove that mineralisation is occurring on the site.
Orford Mining (ORM) is trading at 2.5 cents per share with no change for the day at 1:20pm EDT.