Vancouver, BC, Canada, December 8, 2021, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FSE) is pleased to announce that it has commenced preparation for a diamond drilling program at the Maripa Gold Project (“Maripa”), located in eastern French Guiana, France. Orea has an option to acquire up to a 70% interest in Maripa.
- 10,000 meters of diamond drilling have been approved by the State services;
- Preparation has commenced for a diamond drilling program in 2022;
- 1,000 meters of drilling is planned for next January as an initial probe of the promising Changement gold zone (“Changement”), located at the north end of Maripa;
- Access road and drill pad construction is underway; and
- The drilling area is readily accessed from a paved national highway traversing Maripa.
The Changement area was subject to placer gold mining from 1859 to 1950. All creeks peripheral to the deposit have been worked over time. Underground hard rock mining was recorded as early as 1880 and the deposit was exploited at surface by three shallow open pits from 1985 to 1996. Total declared historical placer and hard rock gold production is estimated to be approximately 100,000 ounces, with 40,000 ounces from hard rock. The Changement gold mineralization is localized within two subparallel north-northwest striking, moderately west dipping, shear zones of 10 to 25 metres in width cutting Paramaca Formation mafic volcano-sedimentary sequences. Gold mineralization is associated with quartz veining and sulfides, mainly as pyrite. The deposit has been traced by drilling to shallow depths over a lateral distance of 1,250 metres. A total of 63 core holes (4,500 metres) were drilled by the French geological survey (BRGM, 1978-1998) and IAMGOLD (2002-2004). Most of drilling was confined to the surface saprolite oxide zone.
Prospecting by Orea in 2019 identified numerous abandoned mine shafts and adits excavated by illegal artisanal miners, located some 800 metres to the south of the Changement mine main pit. Stockpiles of rock extracted from the mine workings consist of mineralized quartz-pyrite veins and mafic volcanic wall rock. Select samples of the mineralized material returned numerous high-grade assays including 115.70, 83.48, 68.43, 42.60, 29.57, 15.51, 14.70, 9.42, 6.05, 5.98, 52.33, 17.20, 16.99, 14.64, 14.50, 9.75, 9.00, 7.36 and 6.83 g/t gold (see news releases dated November 26, 2019). The discoveries extended the Changement gold mineralized trend another 250 meters to the south.
Changement Drilling Program
Ten thousand (10,000) meters of diamond drilling have been approved by the State services on Maripa, including 5,000 meters on Changement. Fourteen (14) drill holes, for 2,140 meters, were planned as an initial investigation of Changement by Orea. Five (5) drill hole fences at 200- to 250-meter spacing will cover a 1,050-meter strike extent of the gold mineralized trend. One thousand (1,000) meters are planned to be drilled next January. Service proposals were requested from drilling contractors and access road and drill pad construction commenced in late November.
Maripa and Changement maps are available at the following links:
- Orea Project Locations:
- Maripa Project Geology:
- Changement Planned Drill Hole Locations:
Orea entered into an agreement in July 2018 with IAMGOLD Corporation to acquire up to a 70% interest in Maripa. Maripa is located in eastern French Guiana along a paved national road, approximately 60 kilometers south of the capital city of Cayenne. The project is comprised of up to five contiguous exploration permits that cover an area of 120 square kilometers, namely the Changement, Maripa, Orapu, Crique Véoux and Maripa Sud-Est permits.
Past exploration at Maripa includes 134 core holes, for a total of 9,000 meters, which partially defined five broad gold zones; namely Changement, Filon Dron, Maripa Sud-Est, Rhyodacite and Filon Scieur. Drilling was limited to shallow depths within the oxidized saprolite layer with all five prospects returning drill hole intersections of economic interest with demonstrated potential for expansion and mineral resource delineation. Gold mineralization is associated with shear-tension quartz vein systems and vein stockworks localized along major fault zones marking a regional deformation corridor known as the Northern Guiana Trough (NGT).
Initial prospecting by Orea in 2019 and 2020 in the north half of Maripa led to the discovery of five new quartz-gold vein systems with high-grade gold potential in the vicinity of the Changement and Filon Dron gold zones.
In October-November 2020, Orea completed 8 diamond drill holes, for 1,168 meters, that tested 4 separate targets identified in the central part of the Maripa (see news release date January 27, 2021). Six (6) of the 8 drill holes served to test the depth and lateral extent of 3 gold mineralized shear-hosted vein systems traced at surface in and around the Filon Dron gold zone. Four (4) drill holes intersected wide shear zones marked by quartz veining, strong hydrothermal alteration, and sulfide mineralization over 18 to 27 meters, which returned gold values.
Rock Lefrançois, President & Chief Executive Officer of Orea and Qualified Person under National Instrument 43-101, has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.
About Orea Mining Corp.
Orea is a leading gold exploration and development company operating in a prospective and underexplored segment of the Guiana Shield, South America. Its mission is to develop gold deposits with a reduced environmental footprint using innovative technologies, upholding the highest international standards for responsible mining. In French Guiana, Orea holds a major interest in the world-class Montagne d’Or mine development project and is also advancing the Maripa and Suriname gold exploration projects.
For more about Orea visit the company’s website at www.oreamining.com
ON BEHALF OF THE BOARD:
President & CEO
For more information contact:
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Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, political and economic risks in France, political and economic risks in French Guiana, risks related to the renewal applications for the Montagne d’Or concessions and the possible outcomes thereof; possible negative outcomes of any appeals from the decision of the Administrative Court of Cayenne in French Guiana; regulatory risk including but not limited to unforeseen changes in regulatory requirements, the Company’s ability to enforce its contractual and other legal rights to explore and exploit its properties, risks related to exploration and development, permitting and licensing risk, the estimation of mineral resources and mineral reserves and related interpretations and assumptions, future profitability of the Company, the ability to obtain additional financing on a timely basis, the price of gold and marketability thereof, government regulations including with respect to taxes, royalties, land tenure and land use, title to the Company’s properties, currency exchange rates and fluctuations, environmental risks, dilution resulting from the issuance of additional securities of the Company, joint venture risks, reliance on Nord Gold plc as operator of the Montagne d’Or project, the availability of equipment, conflicts of interest, competition in the mining industry, uninsured risks, market fluctuations, global financial conditions, credit risk and risks arising from pandemics and epidemics such as the COVID-19 pandemic. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
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