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Mines D'Or Orbec (TSXV: BLUE) has completed the first tranche of its non-brokered private placement, raising $575,000 through the sale of 10.5 million units at $0.05 per unit and 714,284 flow-through shares at $0.07 per share.
Each unit consists of one common share and half a warrant, with each full warrant allowing purchase of an additional share at $0.075 within 18 months. The company will use flow-through proceeds for exploration at its Muus Property in Chibougamau, Québec, while unit proceeds will fund general exploration and working capital.
Notable participants include Chairman Chad Williams ($125,000) and CEO John Tait ($100,000). The second tranche is expected to close around May 9th, 2025. Securities are subject to a four-month hold period and TSXV final approval.
Mines D'Or Orbec (TSXV: BLUE) has announced a non-brokered private placement offering to raise up to $1.1 million. The offering consists of: (i) 1,428,571 flow-through shares at $0.07 per share for gross proceeds of up to $100,000, and (ii) 20,000,000 units at $0.05 per unit for gross proceeds of up to $1,100,000.
Each unit includes one common share and half a warrant, with each full warrant allowing purchase of an additional share at $0.075 within 18 months. The flow-through proceeds will fund exploration at the Muus Property in Chaplais, Québec, while unit proceeds will support general exploration and working capital. The offering is expected to close around April 25, 2025.
Notable insider participation includes Chairman Chad Williams ($125,000) and CEO John Tait ($100,000) in unit purchases.
Mines D'Or Orbec (TSXV: BLUE) has announced significant developments at its Muus Property following a detailed drone magnetics survey at 35-meter line-spacing. The company's team has identified drill targets at the intersection of the E-W Guercheville fault and NE-SW faults.
The E-W Guercheville Deformation Zone is known to host several mineralized bodies, including IAMGOLD's Nelligan Gold project and the Falcon and Philibert projects. The company plans to commence drilling in June 2025 to investigate these prospective fault intersections.
CEO John Tait expressed confidence in the upcoming drill program's potential to identify gold mineralization. The nearby Nelligan deposit contains 8.2 million ounces of gold, highlighting the region's potential. The Southern Chapais-Chibougamau Camp, where the property is located, remains largely underexplored, offering significant upside potential for gold exploration.
Mines D'Or Orbec (TSXV: BLUE) has reported significant findings from a high-resolution magnetic survey at its wholly-owned Muus gold project near Chibougamau, Québec. The survey, covering 2,558 line-kilometres with 35-metre spacing, identified two promising target zones with structural features similar to major regional deposits.
The project's Zone A, located in Lac Bernard Sud, exhibits intersecting northeast-southwest and east-west structures, with previous drilling revealing sericitic alteration along the same deformed volcano-sedimentary contact as IAMGOLD's Nelligan deposit (3.12M oz indicated, 5.16M oz inferred as of February 2025). Zone B, positioned east of Zone A, shows structural complexity and magnetic contrasts indicative of potential gold mineralization.
The company plans to commence drilling soon, following the strategy that led to IAMGOLD's Nelligan discovery. Additionally, Orbec has granted 571,000 options at $0.05 per share until March 19, 2030, and 2,714,000 options at $0.05 per share until December 23, 2029.
Mines D'Or Orbec (TSXV: BLUE) has announced significant leadership changes effective February 27, 2025. John Tait has been appointed as the new CEO and Director, bringing over 25 years of mining exploration experience. Tait's notable achievement includes his role as President of Southern Star Resources Inc., which was later sold to Goldcorp Inc. for C$1.5 billion in 2008.
The current CEO and Director, Dorian L. (Dusty) Nicol, will step down but continue as an advisor, contributing his geological expertise to the company's Muus property development. This property is strategically located adjacent to IAMGOLD 's Nelligan gold deposit, which currently holds 8.3 million oz of gold with potential for growth.
Mines D'Or Orbec (TSXV: BLUE) announced key changes to its Board of Directors effective January 27, 2025. Paolo Cattelan, currently Vice President of Business Development at WEALTH, joins the board bringing 30 years of engineering and construction experience from roles at SNC-Lavalin, Bantrel/Bechtel, and AECOM.
The company also appointed Kettina Cordero, current VP of Investor Relations at Thesis Gold, following the resignation of Philippe Girard. Cordero brings over 15 years of investor relations expertise in the mining sector, having worked with Pan American Silver, Alexco Resource, Capstone Copper, and Aris Mining.
In connection with these appointments, Orbec granted 450,000 stock options to the directors, subject to TSX-V approval.
Mines D'Or Orbec (TSXV: BLUE) has initiated a new phase of exploration at its 100%-owned Muus project near Chibougamau, Québec. The company is conducting a high-definition drone-platform magnetic survey through Terrascope Inc., covering approximately 2,558 line-kilometres at 35-metre line spacing.
The survey targets an area within the extension of the structure hosting IAMGOLD's multi-million-ounce Nelligan gold project, which is adjacent to Muus. The target selection was influenced by exceptional gold-in-till geochemical anomalies, reported among Québec's highest, along with historic drill data and structural geology interpretation.
CEO Dorian L. Nicol highlighted that high-definition magnetics were important in defining gold-bearing structures at Nelligan, leading to its discovery. The survey is expected to complete early next year, contributing to the company's goal of defining high-quality drill targets.
Mines D'Or Orbec (TSXV: BLUE) has appointed Cindy Davis as Chief Financial Officer, effective December 11, 2024, replacing Alain Lévesque who departed on November 25, 2024. Davis brings over 15 years of experience in accounting, financial reporting, regulatory compliance, and management advisory services through Marrelli Support Services Inc. She is a Canadian Chartered Professional Accountant with a Bachelor of Science in Accounting and Economics from the University of West Indies in Jamaica. The company's CEO, Dorian L. Nicol, expressed confidence that Davis's skills and experience will support the company's growth and value creation objectives.
Mines D'Or Orbec (TSXV: BLUE) has announced changes to its Board of Directors. Chad Williams, the company's largest shareholder, will now serve as Chairman. David W. Christie has joined the Board as an Independent Director. CEO Dorian L. (Dusty) Nicol expressed satisfaction with Christie's appointment, citing his technical and corporate experience as valuable assets for the company's growth.
David W. Christie brings 38 years of experience in mining, exploration, and mining finance. His previous roles include president and CEO of Orford Mining Corp. and Eagle Hill Exploration Christie has also worked in investment and as a mining equity analyst.
The company provided an update on its Muus Project, stating plans for glacial till sampling in the Lac Bernard area and geophysics in select areas. The objective is to define high-quality drill targets. Dorian L. (Dusty) Nicol, the company's CEO and Qualified Person, has approved the technical information in the news release.
Mines D'Or Orbec (TSXV: BLUE) has announced promising initial results from its 2024 exploration campaign at its Muus Gold Project in Chibougamau, Québec. The program, designed with IAMGOLD , focuses on Lac Bernard Sud and Lac des Sables. At Lac Bernard Sud, highly anomalous gold grains have been found in till samples, suggesting proximity to source and potential for a Nelligan-style deposit. At Lac des Sables, fieldwork confirmed the prospectivity for volcanogenic massive sulphide (VMS) mineralization, with copper-gold-silver-zinc mineralization observed in historical trenches. The company continues geologic mapping, geochemical sampling, and geophysical surveys to identify drill targets. Additionally, Orbec has secured a $100,000 interest-free loan from Non-Executive Chairman Chad Williams, convertible into units of the company.
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