Brossard, Québec--(Newsfile Corp. - March 17, 2025) - Mines D'Or Orbec Inc. (TSXV: BLUE) (the "Company" or "Orbec") has announced strong results from a high-resolution magnetic survey at its 100%-owned Muus gold project near Chibougamau, Québec. Conducted by Terrascope Inc. using advanced drone technology, the survey covered approximately 2,558 line-kilometres with 35-metre spacing. The data has identified two highly prospective target zones with structural features similar to major regional deposits like IAMGOLD's Nelligan and Monster Lake. Orbec is now refining drill targets, with drilling expected to begin soon.
Survey and Strategy
The survey results confirm that Orbec's approach at Muus closely follows the strategy that led to IAMGOLD's Nelligan discovery, where drilling magnetic anomalies uncovered a multi-million-ounce gold resource. As of February 2025, Nelligan holds an estimated 3.12 million ounces of gold (Indicated) and 5.16 million ounces (Inferred). The Muus project lies along strike from Nelligan, reinforcing its potential within this prolific gold belt.
Target Zones
Zone A - Located in the Lac Bernard Sud area, Zone A shows intersecting northeast-southwest and east-west structures, which are key indicators for gold mineralization at Nelligan. Previous drilling identified sericitic alteration - a hallmark of gold deposits - along the same deformed volcano-sedimentary contact as Nelligan. Orbec is reviewing geological and geophysical data to define high-priority drill targets, with drilling expected soon.
Zone B - Positioned east of Zone A, Zone B also shows structural complexity and magnetic contrasts, suggesting a favorable setting for gold mineralization. This area is less explored, but early signs are promising. Orbec plans to conduct fieldwork, including mapping and sampling, to gather more data and refine drill targets early this season.
Orbec is currently analyzing the survey results and planning focused fieldwork to further define targets in both zones. The goal is to begin drilling in the near term to confirm the potential for significant gold mineralization.
Summary
Both zones present promising targets for gold mineralization, with Zone A being more advanced in terms of available data and ongoing exploration activities, while Zone B remains relatively underexplored but shows significant potential based on geological and geophysical indications. The Company's strategy focuses on further data collection to refine drilling targets, particularly in Zone B.
John Tait, the Company's newly appointed CEO, expressed his excitement about joining Orbec during a pivotal moment in the Company's development. He said, "I'm very excited to be joining Orbec at such an exciting time in the company's journey. After a thorough review of the Company's data, we are all in agreement that our prospects for discovering an extension to IAMGOLD's Nelligan Deposit (8.3 million oz Au) or a new discovery at Lac Bernard deposit are very promising. With similar geophysical indicators along strike, combined with an exceptional team of geologists and geophysicists, I am confident that we have a strong chance of success in our upcoming drilling campaign."
The Company would also like to announce that it has granted an aggregate of 571,000 options to directors, officers and consultants of the Company, with such options being exercisable at a price of $0.05 per share until March 19, 2030. The options vest as to 50 per cent immediately and 50 per cent after six months from the date of grant. The grant of options is subject to the approval and requirements of the TSX Venture Exchange.
The Company would also like to announce that on December 23, 2024, it has granted an aggregate of 2,714,000 options to directors, officers and consultants of the Company, with such options being exercisable at a price of $0.05 per share until December 23, 2029. The options vest as to 50 per cent immediately and 50 per cent after six months from the date of grant. The grant of options is subject to the approval and requirements of the TSX Venture Exchange.
Qualified Person
Technical information in this news release has been approved by Dorian L. (Dusty) Nicol (OGQ, PG, FAusIMM), technical advisor to the Company, 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's 8.3 million oz Nelligan Gold Project. Orbec has announced that exploration of the Muus Gold Project will advance in technical collaboration with IAMGOLD, 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's nearby Monster Lake gold deposit.
On Behalf Of The Board
John Tait, CEO & Director
For more information, please visit our website www.orbec.ca or contact Mr. John Tait, 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.
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.
