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McGarry, Knight and Mirado Projects Revert to 100% Ownership by Orecap30.01.2024 | 12:00 Uhr | Newsfile
Highlights:
Toronto, January 30, 2024 - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the "Company" or "Orecap") announces that Agnico Eagle Mines Ltd. ("Agnico"), and Orecap have agreed to terminate the exploration, earn-in and option agreement on the Company's McGarry, Mirado and Knight properties (together, the "Properties"), with Orecap maintaining its 100% interest in the Properties. "It's important to note that this agreement was made with Kirkland Lake Gold, and Agnico Eagle inherited these commitments after their merger. Since the merger of these two major gold miners, our properties have seen very little exploration, hence why we were excited to be back in control of these three assets within the Kirkland Lake camp that has produced over 40 million ounces of gold. Furthermore, since the original agreement with Kirkland Lake Gold, Orecap's model has changed and is now well structured and positioned to be creative with our management of these projects and drive value for shareholders," said Stephen Stewart, Orecap's CEO.
To view an enhanced version of this graphic, please visit: About the McGarry Project McGarry was in production as recently as 2013 from underground workings and underwent underground exploration showing outstanding grades over long lengths, including 8.2 g/t gold over 98m length and 1.5m width, Stope #1 (E & W, 325 N Zone - 2280 sublevel). Additional exploration results and grades are available from Kerr Mines news release dated April 22, 2013 which is available on sedarplus.ca. About the Mirado Project Mirado hosts a pit-constrained, current Indicated Mineral Resource Estimate of 559,000 tonnes at an average grade of 2.61 g/t gold for 46,000 ounces of gold, and an Inferred Mineral Resource Estimate of 382,000 tonnes at an average grade of 2.66 g/t gold for 32,700 ounces, based on a cut-off grade of 1.0 g/t gold. The pit-constrained South Zone was also the subject of a PEA in January 2018, showing an after-tax internal rate of return ("IRR") of 158% and an after-tax NPV5% of $20.5 million. The average gold price used in the PEA was US$1,300 per ounce, and an exchange rate of 1.00 USD = 0.76 CAD. About the Knight Project Tyranite is a historical producing mine and has significant infrastructure in place, including a headframe and hoist. Tyranite was historically mined as a 'fault' style deposit, while Orecap's interpretation focuses on the ultramafic units' contact zones striking at right angles to the fault. Tyranite is open to the south and at depth with the potential to expand on its high-grade zones. Minto is a high-grade Brecia pipe, drilled from surface to over 800 metres depth. Minto's historical resource consists of a pod of carbonate sulphide breccias, with ~204,000 tonnes grading at 0.2 oz/t (6.9 g/t) gold to a depth of 229 metres (750 ft) (Pearson H.A., 1984). Minto showed high grade drill intercepts including 18.2 g/t gold over 65.7 metres, and 4.61 g/t gold over 79.6 metres. Duggan is located 1.5km west of Tyranite and hosts similar geology and potential for a high-grade open pit. The previous property owners confirmed historical work and expanded the mineral zone's strike extension to 700 metres and a depth of 410 metres. Previous drilling on the property yielded near-surface intersections, including 2.14 g/t gold over 49.9 metres. Porphyry Lake hosts two gold mineralized porphyry systems with wide, low-grade gold intersections in drilling. There is potential to develop this zone into a large, bulk tonnage open pitable deposit. Additionally, the property potentially hosts breccia pipes similar to that at Minto, as it is located immediately to the west of Minto and contiguous to Aris Mining's Juby's north boundary. QP Statement About Orecap Invest Corp. Orecap's Current Equity Holdings include:
For the latest videos from Orecap, Ore Group, and all things Mining, subscribe to our YouTube Channel: youtube.com/@theoregroup For further information, please contact us: Orecap Invest Corp. 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/196128 Dieser Artikel stammt von Rohstoff-Welt.de
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