Orefinders has struck a deal with IAMGOLD to mill stockpiled ore from its Mirado gold project, located 35 kilometres south of Kirkland Lake.
The agreement marks phase one of Orefinders’ plan to develop the Mirado project. Orefinders will crush ore from the stockpile, which was mined during from the Mirado open pit during production in the 1980s, and truck 25,000 tonnes to IAMGOLD’s Westwood property in Québec for toll milling.
A resource calculation on the stockpile delineated an inferred resource of 20,742 tonnes at an average grade of 4.41 grams per tonne for a total of 2,939 contained gold ounces. Orefinders owns 100 per cent of the Mirado Project.
Orefinders views phase one as an opportunity to clean up the former mine site and to generate cash flow for Orefinders' ongoing exploration and development of the Mirado project.
There are two past-producing mines on the Mirado property: the Mirado open pit and the North Zone's underground operation, which includes a shaft and underground workings, which has since been digitized by the company.
Orefinders has additional exploration property in Red Lake.
