Highlights:
- Three holes, totaling 1,430 metres, will test extensions of the adjacent Delta 1 Project mineralization and new target areas.
- Hole GLD-23-001 is a vertical hole designed to test the north dipping mineralization from the adjacent Delta 1 property.
- Hole GLD-23-002 will test a geophysical target at the south end of the Goldie property.
- Hole GLD-23-003 will test an area of previous drilling and high-grade sampling that correlates with interpreted structures and geophysics anomalies.
Toronto, Ontario--(Newsfile Corp. - January 8, 2024) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the "Company" or "Orecap") is pleased to announce that Mistango River Resourecs (CSE: MIS) ("Mistango"), an Orecap portfolio company in which it owns 24,708,975 million shares (13.9%) has commenced its Goldie Drill Program. The program will be three holes, totaling 1,430 metres, will test extensions of the adjacent Delta 1 Project mineralization and new target areas.
In addition, Orecap would like welcome Jamie Spratt, Mistango's new CEO to the Ore Group. Jamie brings over 15 years of expertise in mining-focused capital markets, elevating Mistango's strategic vision and operational capabilities.
Full Details on Mistango's drill program can be found on its website:
Mistango Commences Goldie Drill Program
Orecap's Current Equity Holdings include:
| Company (Ticker) | Shares Owned (% of Outstanding Shares) |
| Mistango River Resources (CSE: MIS) | 24,708,975 / (13.9%) |
| QC Copper and Gold (TSXV: QCCU) (OTCQB: QCCUF) | 5,059,752 / (2.9%) |
| American Eagle Gold (TSXV: AE) (OTCQB: AMEGF) | 11,863,244 / (10.9%) |
| Awale Resources (TSXV: ARIC) | 8,333,332 / (14.8%) |
| Cuprum Corp. (PrivateCo) | 29,500,000 / (42.7%) |
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 Limited 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 Mistango River Resources Inc.
Mistango is a Canadian-based exploration company focused on its Goldie project, 50km west of Thunder Bay, within the Shebandowan Greenstone Belt. The Company also owns the Ledden project, contiguous with QC Copper's Opemiska Copper-Gold mine. Mistango has partnered with Agnico Eagle Mines Limited ("Agnico") to develop its Kirkland West and Omega projects (the "Projects") under a $60M option agreement, whereby Agnico can earn up to 75% of the Projects. Mistango has a strong balance sheet and key strategic investors, including Agnico.
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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/193552
SOURCE: Orecap Invest Corp.
