Orefinders Releases Webinar on its Mistango Acquisition from Osisko Gold Royalties
TORONTO, May 6, 2019 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to release an investor webinar detailing its acquisition of 31% of the shares of Mistango River Resources Inc. (" Mistango") from Osisko Gold Royalties ("Osisko") as announced on May 3, 2019.
The Orefinders Webinar details:
- Osisko is now a significant shareholder of Orefinders
- Investment rationale for the acquisition of Mistango's shares
- Details on Mistango's flagship asset Omega mine gold resource which is strategic to Orefinders Mirado and McGarry Mines
- Implied Value of the Acquisition on a per ounce basis
The webinar is available, at any time, via the link below:
Orefinders' Webinar on its Mistango Acquisition from Osisko Gold Royalties
About Mistango's Omega Project
The Omega Mine produced over 215,000 ounces of gold between 1935 and 1947. Omega's NI 43-101 resource estimate was completed in 2013, consisting of an indicated resource of 4.92 million tonnes grading 1.39 gpt gold (219,808 ounces), and an inferred resource of 4.69 million tonnes grading 2.43 gpt gold (365,400 ounces).
OMEGA Property NI 43-101 Resource Estimate 2013 |
||||
Cut-off Grade |
Classification |
Tonnes |
Gold (gpt) |
Contained |
0.5 gpt Au above 130 masl |
Indicated |
4.92 |
1.39 |
219,438 |
3 gpt Au below 130 masl |
Indicated |
0.003 |
3.19 |
370 |
Total Indicated |
219,808 |
|||
0.5 gpt Au above 130 masl |
Inferred |
3.35 |
1.8 |
190,900 |
3 gpt Au below 130 masl |
Inferred |
1.34 |
4.0 |
174,500 |
Total Inferred |
365,400 |
|||
The preceding information is derived from the technical report filed by Mistango titled "Omega Property – McVittie Township, Ontario, Canada" dated effective May 10, 2013 and filed on SEDAR by Mistango on July 10, 2013. The report indicates that it is prepared in accordance with NI 43-101. Although Orefinders considers it to be reliable, Orefinders is treating it as an historical estimate, not a current mineral resource, as Orefinders has not yet had a qualified person do the work necessary to confirm that it may be classified as a current mineral resource.
QP Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo, Director and Vice President Exploration for Orefinders who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused within the Abitibi Greenstone Belt. The Company is listed on the TSX Venture Exchange under the symbol ORX.
Neither 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. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders' assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders' profile at www.sedar.com
SOURCE Orefinders Resources Inc.
To speak to the Company directly, please contact: Stephen Stewart, Chief Executive Officer, Phone: 416.644.1567, Email: [email protected], www.orefinders.ca
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