Orecap Updates on Its Portfolio Companies Awale, American Eagle, XXIX and Others
Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) provided updates on its portfolio companies, highlighting significant developments across multiple mining ventures. Awale Resources secured a strategic $8.26M investment from Fortuna Mining and reported exceptional drilling results, including 16.4 g/t gold over 52 metres at the Charger Target. American Eagle Gold received an additional C$820K investment from South32 and launched a 30,000-metre drill program at NAK.
XXIX Metal announced an updated mineral resource estimate at Opemiska, reporting 1,438 Mlbs CuEq indicated and 709 Mlbs CuEq inferred resources. Mistango River Resources expanded its Omega property by 60% through the McVittie property acquisition. Additionally, Orecap's acquisition of a 19.9% stake in Kintavar Exploration is pending closure, involving an exchange for 50% of the Roger Gold Project.
Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) ha fornito aggiornamenti sulle sue società in portafoglio, evidenziando sviluppi significativi in diversi progetti minerari. Awale Resources ha ottenuto un investimento strategico di 8,26 milioni di dollari da Fortuna Mining e ha riportato risultati eccezionali nelle perforazioni, inclusi 16,4 g/t di oro su 52 metri presso il Charger Target. American Eagle Gold ha ricevuto un ulteriore investimento di 820.000 dollari canadesi da South32 e ha avviato un programma di perforazione di 30.000 metri a NAK.
XXIX Metal ha annunciato una stima aggiornata delle risorse minerarie a Opemiska, riportando risorse indicate di 1.438 milioni di libbre CuEq e risorse inferite di 709 milioni di libbre CuEq. Mistango River Resources ha ampliato la sua proprietà Omega del 60% attraverso l'acquisizione della proprietà McVittie. Inoltre, è in attesa di chiusura l'acquisizione da parte di Orecap di una partecipazione del 19,9% in Kintavar Exploration, che prevede uno scambio per il 50% del Roger Gold Project.
Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) proporcionó actualizaciones sobre sus empresas en cartera, destacando desarrollos significativos en varios proyectos mineros. Awale Resources aseguró una inversión estratégica de 8,26 millones de dólares de Fortuna Mining y reportó resultados excepcionales de perforación, incluyendo 16,4 g/t de oro en 52 metros en el objetivo Charger. American Eagle Gold recibió una inversión adicional de 820.000 dólares canadienses de South32 y lanzó un programa de perforación de 30.000 metros en NAK.
XXIX Metal anunció una estimación actualizada de recursos minerales en Opemiska, reportando recursos indicados de 1.438 millones de libras CuEq y recursos inferidos de 709 millones de libras CuEq. Mistango River Resources amplió su propiedad Omega en un 60% mediante la adquisición de la propiedad McVittie. Además, está pendiente el cierre de la adquisición por parte de Orecap de una participación del 19,9% en Kintavar Exploration, que implica un intercambio por el 50% del Roger Gold Project.
Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF)는 포트폴리오 회사들에 대한 업데이트를 제공하며 여러 광산 사업에서 중요한 발전 사항을 강조했습니다. Awale Resources는 Fortuna Mining으로부터 전략적 투자금 8.26백만 달러를 확보했으며, Charger 타겟에서 52미터 구간에 걸쳐 16.4 g/t 금이라는 뛰어난 시추 결과를 보고했습니다. American Eagle Gold는 South32로부터 추가로 82만 캐나다 달러 투자를 받았으며 NAK에서 3만 미터 시추 프로그램을 시작했습니다.
XXIX Metal는 Opemiska에서 갱신된 광물 자원 추정치를 발표하며 1,438백만 파운드 CuEq 확정 및 709백만 파운드 CuEq 추정 자원을 보고했습니다. Mistango River Resources는 McVittie 광산 인수를 통해 Omega 광산 부지를 60% 확장했습니다. 또한, Orecap이 Kintavar Exploration의 19.9% 지분을 인수하는 거래가 진행 중이며, Roger Gold Project의 50% 지분 교환이 포함되어 있습니다.
Orecap Invest Corp. (TSXV : OCI) (OTCQB : ORFDF) a fourni des mises à jour sur ses sociétés en portefeuille, mettant en avant des développements importants dans plusieurs projets miniers. Awale Resources a obtenu un investissement stratégique de 8,26 millions de dollars de Fortuna Mining et a rapporté des résultats exceptionnels de forage, incluant 16,4 g/t d’or sur 52 mètres à la cible Charger. American Eagle Gold a reçu un investissement supplémentaire de 820 000 dollars canadiens de South32 et a lancé un programme de forage de 30 000 mètres à NAK.
XXIX Metal a annoncé une estimation mise à jour des ressources minérales à Opemiska, avec 1 438 millions de livres CuEq indiquées et 709 millions de livres CuEq inférées. Mistango River Resources a étendu sa propriété Omega de 60 % grâce à l’acquisition de la propriété McVittie. Par ailleurs, l’acquisition par Orecap d’une participation de 19,9 % dans Kintavar Exploration est en attente de clôture, impliquant un échange pour 50 % du projet Roger Gold.
Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) gab Updates zu seinen Portfoliounternehmen bekannt und hob bedeutende Entwicklungen in mehreren Bergbauprojekten hervor. Awale Resources sicherte sich eine strategische Investition von 8,26 Mio. USD von Fortuna Mining und meldete herausragende Bohrergebnisse, darunter 16,4 g/t Gold über 52 Meter am Charger-Ziel. American Eagle Gold erhielt eine zusätzliche Investition von 820.000 CAD von South32 und startete ein 30.000-Meter-Bohrprogramm bei NAK.
XXIX Metal gab eine aktualisierte Schätzung der Mineralressourcen bei Opemiska bekannt und meldete 1.438 Mio. lbs CuEq angezeigt sowie 709 Mio. lbs CuEq vermutet. Mistango River Resources erweiterte sein Omega-Grundstück um 60 % durch den Erwerb des McVittie-Grundstücks. Zudem steht der Erwerb einer 19,9%-Beteiligung an Kintavar Exploration durch Orecap kurz vor dem Abschluss, der einen Tausch für 50 % des Roger Gold Projekts beinhaltet.
- None.
- Complex portfolio structure may dilute focus and resources
- Multiple early-stage projects requiring significant capital investment
- Pending closure of Kintavar acquisition creates uncertainty
Highlights
- Awale continues to deliver high-grade results from its Odienne project, including 16.4 g/t gold over 52 metres at Charger.
- Awale welcomed Fortuna Mining with a +
$8 million strategic investment. - American Eagle announced another investment by South32 and commenced its 30,000 metre drill program at NAK.
- XXIX announced an updated resource estimate at Opemiska: 1,438 Mlbs CuEq indicated (62,706 kt @
1.04% CuEq) + 709 Mlbs CuEq inferred (78,485 kt @0.41% CuEq), pit constrained. - Mistango increased its Omega property area by
60% by acquiring the McVittie property. - Orecap's acquisition of
19.9% of Kintavar Exploration Inc. is expected to close in the near term. - Significant activity in Kirland Lake District with High Profile appointments in the region.
Toronto, Ontario--(Newsfile Corp. - July 2, 2025) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the "Company" or "Orecap") is pleased to provide an update on its portfolio companies.
Awale Resources Update:
Awale Resources welcomed a
Awale continued to intersect mineralization at its flagship Odienné Project, including:
- 16.4 g/t gold over 52 metres, including 70.3 g/t gold over 11 metres, extending the Charger Target at depth (see June 25, 2025 news release).
- 1.6 g/t gold equivalent over 45 metres at the BBM Zone (see April 8, 2025 news release).
- 12 g/t gold over 26 metres at the Charger Target (see April 17, 2025 news release).
- 5.2 g.t gold over 15 metres at the Empire Target (see May 12, 2025 news release).
Awale also extended its Fremen target footprint by 5km, confirming new gold mineralization on its
American Eagle Update:
American Eagle Gold received an additional C
American Eagle Gold also commenced its 30,000-metre drill program at its NAK project (see May 22, 2025 news release). Orecap owns 10,718,748 shares of American Eagle Gold.
XXIX Metal Update:
XXIX announced an updated mineral resource estimate on its Opemiska project on June 3, 2025:
- 1,438 Mlbs CuEq (Indicated resource of 62,706 kt @
1.04% CuEq) + 709 Mlbs CuEq (Inferred resource of 78,485 kt @0.41% CuEq), pit constrained resource. - Shallower pit, reduced surface footprint, and significantly lower strip ratio.
- New gold potential on Cooke zone (a past-producing gold mine with its crown pillar still intact).
- High-quality PEA in the near term.
XXIX also completed comprehensive data validation and reinterpretation on its Thierry Project (see February 12, 2025 news release):
- Expanded K1 deposit with 15 previously excluded drill holes: mineralization from surface to a depth of 400 meters, 1.2 KM strike length up to 260 metres width.
- K2 Deposit is currently undergoing reinterpretation and validation.
- Significant potential between K1 and K2.
- Near-term drilling to confirm the new model, leading to an updated MRE.
Orecap owns 39,096,852 shares of XXIX.
Mistango River Resources Update:
Mistango increased its Omega property area by
- Omega is a strategic asset near Kirkland Lake, ON, with 219.8 Koz (4.92Mt grading 1.39 g/t Au) in the indicated category, and 365.4 Koz (4.69Mt grading 2.42 g/t Au) in the inferred category.
Orecap owns 24,708,975 shares of Mistango River Resources.
Orecap's Update on its Acquisition of Kintavar Exploration Inc. and its Kirkland Lake Strategy:
On April 22, 2025, Orecap announced that it entered into an asset purchase agreement with Kintavar Exploration Inc. ("Kintavar") and XXIX:
- Orecap to acquire
19.9% of Kintavar Exploration in exchange for50% of the Roger Gold Project (purchased from SOQUEM for$1.6M of Orecap's XXIX shares owned). - The closing of the transaction is expected to occur in the near term.
Orecap notes the significant activity in the Kirkland Lake district with the appointments of Pierre Lassonde, Rick Howes and Hannes Portmann as Gold Candle Ltd.'s Chairman, CEO, and CFO, respectively. Orecap and Mistango own several properties in the district, including the McGarry Project, which is contiguous with Gold Candle's multi-million-ounce Kerr Addison project, offering significant potential synergies, including a high-grade resource and mining infrastructure already in place at McGarry.
QP Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director of Orecap Invest Corp., a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Orecap Invest Corp.
Orecap seeks special situation investments in the natural resource sector that offer shareholders diverse exposure to high returns on precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), XXIX Metal (TSXV: XXIX) (OTCQB: QCCUF), Mistango (CSE: MIS), Awale Resources (TSXV: ARIC), Metal Energy (TSXV: MERG), in addition to owning a broad portfolio of land packages focussed on gold, copper and zinc. Agnico Eagle Mines Limited is a
Orecap's Current Equity Holdings include:
| Company (Ticker) | Shares Owned |
| Mistango River Resources (CSE: MIS) | 24,708,975 |
| XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) | 39,096,852 |
| American Eagle Gold (TSXV: AE) (OTCQB: AMEGF) | 10,718,748 |
| Awale Resources (TSXV: ARIC) | 7,389,833 + 4,166,666 warrants |
| Metal Energy (TSXV: MERG) | 5,125,000 + 2,562,500 warrants |
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For further information, please contact us:
Orecap Invest Corp.
Stephen Stewart
416.644.1567
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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.
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FAQ
What are the latest drilling results from Awale Resources' Odienne Project?
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What is the updated mineral resource estimate for XXIX's Opemiska project?
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