TORONTO, May 4, 2017 -- Canadian Orebodies Inc. (the “Company”) is pleased to announce the completion of a large staking program to add 28 mineral claims to the southeast of its Wire Lake Property, located 15 kilometres northeast of Marathon, ON.
Over the past three weeks, the Company staked 400 claim units totaling 6,400 hectares that wrap around the eastern and southern borders of the Wire Lake Property. The newly acquired claims in the Wire Lake area cover a number of underexplored features – which previous operators in the area interpreted to be shear structures coming off the main Hemlo break – that are of strong exploration interest to the Company.
“This staking program, combined with our Wire Lake Property and recent acquisition of the Black Raven Property, gives Canadian Orebodies a dominant land position in this highly prospective area. In total, this project now covers approximately 180 square kilometres,” said Gordon McKinnon, President and CEO of Canadian Orebodies. “Based on our experienced geological team’s extensive knowledge of the area, the Company moved to stake these mineral claims that cover a prospective and greatly underexplored target area.”
The Company has commenced a 34 line kilometre OreVision IP survey on the Wire Lake Property being performed by Abitibi Geophysics. The current grid covers the known 2,300 metre gold bearing zone and extends the survey area 200 metres to both the north and south, as well as 100 metres to the east and west. Results from the OreVision IP survey will be combined with early field work to generate initial targets for the summer drill campaign.
This press release has been prepared under the supervision of Mr. Bruce Mackie (P.Geo.), who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Mackie has verified the technical data disclosed in this press release.
About Canadian Orebodies Inc.
Canadian Orebodies is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. Canadian Orebodies is focused on generating shareholder value through the advancement of its two Hemlo area properties: Wire Lake and the North Limb.
For more information please contact:
Gordon McKinnon, President & CEO
Canadian Orebodies Inc.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Canadian Orebodies, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.