Orefinders’ 31% Ownership in Mistango River Resources
Mistango River Resources (MIS : CSE) owns 100% of the Omega Mine Property, which is strategic to Orefinders’ McGarry Mine and Mirado Mine projects. The consolidation of the Cadillac Larder-Lake Break is inevitable and this acquisition puts us at the forefront of this. This transaction with Osisko Gold Royalties makes Orefinders the largest shareholder of MIS, while Osisko Gold Royalties becomes one of Orefinders largest shareholders.
Omega Location on the Cadillac Larder-Lake Break
Orefinders Synergy with Agnico Eagle in Kirkland Lake
- Omega complements our Kirkland Lake – Larder Lake portfolio well as it is 5km West of McGarry & 15km Northeast of Mirado
- Offers potential milling and infrastructure synergies with McGarry and Mirado — McGarry has a tailings facility on site and could host a centralized mill for feed from Omega
- Orefinders is consolidating the Cadillac – Larder Lake Break / Abitibi assets with known geology – Omega fits our stated criteria
- Orefinders June 2018 agreement with the Province of Ontario is expected to open the McGarry – Kerr Addison trend for exploration
Along with Orefinders’ projects in Kirkland/Larder Lake, Omega is also proximal to Agnico Eagle’s Upper Beaver (7km Northwest) and Kirkland Lake’s Macassa Mine (25km West).
Omega Fits With Orefinders’ Criteria
Omega’s 2013 NI 43-101 Resource Estimate
Omega is a past producing mine with ~217,500 ounces of gold produced between 1920s-1940s.
Omega is easily accessible by road, proximal to the town of Kirkland Lake (30KM west) and Virginiatown (7KM east), has access to power and water. Furthermore, shafts (capped) and winze is still on the property from previous operation.
Omega has gone through 5 phases of exploration between 2011 and 2013 involving geophysics, soil sampling, and drilling with ~30,750m of total drilling.
Other Mistango Assets
Baldwin & Eby
These projects are located ~15km Southwest of Kirkland Lake. Baldwin consists of 9 patented claims with small past producing mine on the property (minor gold production at 0.5 oz/t). The projects host 3 deformation zones: Kirkland Lake, Larder Lake and Blanche River.
Sackville consists of 8 non-patented claims and 1 patented claim totaling 3,944 Ha, and is easily accessible by road. MIS has been mapping high-grade VMS boulders–which has been the focus over the past 10 years. The Stares boulder reports grades of 12% Zn, 0.6% Cu, 4.4% Pb, 359 gpt Ag, and 5.52 gpt Au; the Boomber boulder reports grades of 8.8% Zn, 0.26% Cu, 1.70% Pb, 214 gpt Ag, and 3.51 gpt Au. The primary goal for MIS is to follow up on all leads (i.e. geophysical, geochemical, drilling) to find the source of the boulders. MIS completed a 43-101 technical report on Sackville in 2010.