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Orecap Portfolio Company, American Eagle, Intersects 302 metres of 1.09% Copper Equivalent

09.01.2024 | 14:30 Uhr | Newsfile

Highlights:

  • NAK23-17 intersected 302 m of 1.09% Copper Equivalent within 606 m of 0.74% Copper Equivalent beginning at 99 m downhole.

  • NAK23-17 was collared 250 metres west of NAK23-11 (473 metres of 0.62% Copper Equivalent, beginning at surface), and more than 250 metres away from any previous hole drilled on the property, extending high-grade mineralization westward.

  • The fully funded 2024 drill program will prioritize expanding the large, high-grade, mineralized South Zone and testing linkages between it and other higher-grade parts of the extensive NAK system.

Toronto, January 9, 2024 - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the "Company" or "Orecap") is pleased to announce that American Eagle Gold (AE:TSXV), an Orecap portfolio company in which it owns 11,863,248 million shares (~11% of American Eagle) has intersected 302 metres of 1.09% CuEq from its latest drill hxole-NAK23-17. This high-grade mineralization was encountered more than 250 metres away from any historically known mineralization prior to 2023's drill program, beginning west-northwest of previously known limits of the South Zone mineralization where NAK-23-11 intersected 473 metres of 0.62% CuEq from surface.

In addition, Orecap would like to highlight that in May 2023, the Company announced a strategic investment by Teck Resources Ltd., who now owns a 19.9% equity stake in the Company after subsequent investments in August and November 2023. The Company also received a major investment from renowned geologist, C.J. "Charlie" Greig. American Eagle Gold's 2024 exploration program is fully funded and will prioritize expanding the large, high-grade, mineralized South Zone and testing linkages between it and other higher-grade parts of the extensive NAK system.

Full Details on American Eagle Gold's latest drill result can be found on its website:

American Eagle Intersects 302 metres of 1.09% Copper Equivalent within 606 metres of 0.74% Copper Equivalent

Orecap's Current Equity Holdings include:

Company Shares Owned (% of Outstanding Shares)
American Eagle Gold (TSXV: AE) (OTCQB: AMEGF) 11,863,244 / (~11%)
QC Copper and Gold (TSXV: QCCU) (OTCQB: QCCUF) 5,059,752 / (~3%)
Mistango River Resources (CSE: MIS) 24,708,975 / (~14%)
Awale Resources (TSXV: ARIC) 8,333,332 / (~15%)
Cuprum Corp. (PrivateCo) 29,500,000 / (~43%)

About Orecap Invest Corp.

Orecap seeks Special Situation investments in the natural resource sector that offer shareholders diverse exposure to high returns in precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), QC Copper and Gold (TSXV: QCCU) (OTCQB: QCCUF), Mistango (CSE: MIS), Awale Resources (TSXV: ARIC), and Cuprum Corp. in addition to owning a broad portfolio of land packages focussed on gold, copper and zinc. Agnico Eagle Mines Ltd. is a 9.9% shareholder and holds an option to acquire up to a 75% interest in Orecap's Knight and McGarry projects in exchange for spending $60 million on the Projects.

About American Eagle Gold Corp.

American Eagle is focused on exploring its NAK project in the Babine Copper-Gold Porphyry district of central British Columbia. In May and August 2023, the Company announced a further strategic investment by Teck Resources Ltd..

For the latest videos from Orecap, Ore Group, and all things Mining, subscribe to our YouTube Chanel: youtube.com/@theoregroup

QP Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

For further information, please contact us:

Orecap Invest Corp.
Stephen Stewart, Chief Executive Officer
416.644.1567‎
sstewart@oregroup.ca ‎

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this news release contains forward-looking statements or information ("forward-‎looking statements)", including details about the business of the Company. All statements in this news ‎release, other than statements of historical facts, that address events or developments that the Company ‎expects to occur, are forward-looking statements, including, but not limited to, the receipt by the Company of the approval of the TSX Venture Exchange for the name change. By their nature, forward-looking statements ‎are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including ‎the impact of general economic conditions, industry conditions, volatility of commodity prices, currency ‎fluctuations, environmental risks, operational risks, competition from other industry participants, stock market ‎volatility. Although the Company believes that the expectations in its forward-looking statements are ‎reasonable, its forward-looking statements have been based on factors and assumptions concerning future ‎events which may prove to be inaccurate. Those factors and assumptions are based upon currently available ‎information. Such statements are subject to known and unknown risks, uncertainties and other factors that ‎could influence actual results or events and cause actual results or events to differ materially from those ‎stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to ‎place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, ‎levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could ‎affect actual results are discussed in the Company's public disclosure documents available at ‎www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the ‎date of this document and, except as required by applicable law, the Company does not undertake any ‎obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of ‎new information, future events or otherwise. The forward-looking statements contained in this document are ‎expressly qualified by this cautionary statement.‎

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193625


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