High-Definition Magnetic Survey In Progress at Orbec's Muus - Targets Nelligan-Style Gold Deposits

Rhea-AI Summary

Mines D'Or Orbec (TSXV: BLUE) has initiated a new phase of exploration at its 100%-owned Muus project near Chibougamau, Québec. The company is conducting a high-definition drone-platform magnetic survey through Terrascope Inc., covering approximately 2,558 line-kilometres at 35-metre line spacing.

The survey targets an area within the extension of the structure hosting IAMGOLD's multi-million-ounce Nelligan gold project, which is adjacent to Muus. The target selection was influenced by exceptional gold-in-till geochemical anomalies, reported among Québec's highest, along with historic drill data and structural geology interpretation.

CEO Dorian L. Nicol highlighted that high-definition magnetics were important in defining gold-bearing structures at Nelligan, leading to its discovery. The survey is expected to complete early next year, contributing to the company's goal of defining high-quality drill targets.

Brossard, Québec--(Newsfile Corp. - December 16, 2024) - Mines D'Or Orbec Inc. (TSXV: BLUE) (the "Company") announces that exploration has resumed at its 100%-owned Muus project near Chibougamau, Québec. This phase of work is focused on defining drill targets within the extension of the structure which hosts IAMGOLD Inc.'s multi-million-ounce Nelligan gold project, adjacent to Muus. The work will consist of a high-definition drone-platform magnetic survey conducted by Terrascope Inc. and will comprise approximately 2,558 line-kilometres covering the target area at 35-metre line spacing. The target area is shown on the map below. Other portions of the Muus project have historic close-spaced magnetic data, which will be merged with the new data. Terrascope Inc. has mobilized and begun the survey.

The Company's CEO Dorian L. (Dusty) Nicol commented, "The Company is excited by the exploration potential at the highly prospective, 100%-owned Muus gold project near Chibougamau, Québec. The target area was chosen because it is on the extension of the structure that hosts Nelligan, where it coincides with our spectacular gold-in-till geochemical anomalies, among the highest recorded in Québec. The target area was also chosen based on the historic drill data that we have compiled and built into a model with lithology and alteration during the last several months, and on our ongoing interpretation of structural geology within the Muus project. At Nelligan, high-definition magnetics were key in defining the structures that host gold mineralization. This guided the early drilling that led to the discovery. This magnetic survey will be completed early in the new year and will be an important contribution to our goal of defining high-quality drill targets on Muus."

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Qualified Person

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company's CEO (OGQ, PG, FAusIMM), who is a Qualified Person (QP) for the purpose of National Instrument 43-101.

About Orbec

Orbec is a gold company that owns 100% of a large and highly prospective mineral claim position near Chibougamau, Québec. The Muus Project covers approximately 25,250 hectares in the northeastern part of the Abitibi Greenstone Belt. Muus is prospective for gold mineralisation and is adjacent to and on strike with IAMGOLD Inc.'s +5-million-ounce Nelligan Gold Project. Orbec has announced that exploration of the Muus Gold Project will advance in technical collaboration with IAMGOLD Inc., which owns approximately 8.3% of the Company. Field work completed during 2022 established that the northern portion of the Muus Gold Project is also prospective for copper-gold volcanogenic massive sulphide mineralisation, as well as confirming that it is prospective for high-grade gold mineralisation similar to IAMGOLD Inc.'s nearby Monster Lake gold deposit.

ON BEHALF OF THE BOARD

Dorian L. (Dusty) Nicol, CEO & Director

For more information, please visit our website www.orbec.ca or contact Mr. Dorian L. (Dusty) Nicol, info@orbec.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including in respect of the size and use of proceeds of the Offering, the timing and ability of the to close the Offering, including obtaining approval of the Offering from the TSX Venture Exchange, if at all (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

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FAQ

What is the scope of the magnetic survey being conducted at BLUE's Muus project?

The survey covers 2,558 line-kilometres at 35-metre line spacing, using a drone-platform magnetic survey conducted by Terrascope Inc.

How does the Muus project location relate to IAMGOLD's Nelligan gold project?

The Muus project is adjacent to IAMGOLD's Nelligan gold project and contains an extension of the same structure that hosts Nelligan's multi-million-ounce gold deposits.

What factors influenced the target area selection at the Muus project?

The target area was chosen based on three key factors: its location on the Nelligan structure extension, exceptional gold-in-till geochemical anomalies, and historic drill data combined with structural geology interpretation.

When will the magnetic survey at BLUE's Muus project be completed?

According to the company, the magnetic survey will be completed early in the new year (2025).

What is the significance of the gold-in-till geochemical anomalies found at the Muus project?

The gold-in-till geochemical anomalies at the Muus project are reported to be among the highest recorded in Québec, indicating significant exploration potential.