https://www.miningweekly.com

Orefinders acquires 31% of Mistango River Resources

3rd May 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

TSX-V-listed Orefinders Resources has acquired 11.8-million shares, or 31%, of Mistango River Resources from Osisko Gold Royalties.

In exchange, Orefinders issued five-million of its shares to Osisko.

Mistango owns a series of assets including the past producing Omega gold mine, which is located 5 km west of Orefinders’ McGarry mine, and 15 km northeast of the company’s Mirado project, in Canada.

The Omega mine previously produced 215 000 oz of gold between 1935 and 1947. The last resource estimate done in 2013 consisted of an indicated resource of 4.92-million tonnes grading 1.39 g/t gold for 219 808 oz and an inferred resource of 4.69-million tonnes grading 2.43 g/t gold for 365 400 oz.

"We are pleased to welcome Osisko as a shareholder of Orefinders. The acquisition of 31% of Mistango River Resources from Osisko is an excellent opportunity for Orefinders to increase its footprint within the prolific Kirkland Lake-Larder Lake camp.

“This acquisition is in line with our strategy of consolidating the Cadillac Larder-Lake Break. The Omega mine is strategically located along the Cadillac Larder-Lake Break proximal to Orefinders' McGarry mine and Barber Larder projects,” said Orefinders CEO Stephen Stewart.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION