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
(Mt)
|
Gold
(gpt)
|
Contained
Gold (ounces)
|
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.