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Orefinders Provides Corporate Update, Completion of Drilling on Knight, Drilling on McGarry Ongoing
Orefinders Provides Corporate Update, Completion of Drilling on Knight, Drilling on McGar...
About this update from Orecap Invest Corp
[{"type":"text","content":"\n \n \n \n Orefinders Provides Corporate Update, Completion of Drilling on Knight, Drilling on McGarry Ongoing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Drilling on Knight now Complete\n \n \n \n \n Drilling on McGarry in Kirkland Lake Ongoing\n \n \n \n \n Treasury is Strong with\n \n ~$9.8 million\n \n in working capital and +$6 million in cash\n \n \n \n \n Agnico Eagle JV Exploration Spend Increasing by 50% in 2022\n \n \n \n \n Full Update via webinar Now Available\n \n \n \n \n \n TORONTO\n \n ,\n \n March 10, 2022\n \n /CNW/ - Orefinders Resources Inc. (\"Orefinders\" or the \"Company\") (TSXV: ORX) is pleased to provide a corporate update, including results from the now complete Knight drill program, the in-progress drill program on its\n \n McGarry Gold\n \n project in the\n \n Kirkland Lake\n \n District, updates on Orefinders cash and working capital positions, strategic opportunities that Orefinders is evaluating, and its Joint Venture partnership with Agnico Eagle Mines Limited (\"Agnico Eagle\"; TSX:AEM).\n \n \n Orefinders has a strong balance sheet with\n \n $6 million\n \n in cash and a total of\n \n $8.5 million\n \n in working capital, including its +5 million shares in QC Copper & Gold (QCCU:TSXV) , 24.7 million shares in Mistango River Resources (MIS:CSE), 5 million shares in American Eagle Gold (AE:TSXV). Orefinders also benefits from its\n \n $60 million\n \n joint venture with Agnico Eagle, which sees AEM fund Orefinders exploration activities while preserving its treasury. Orefinders also notes that Agnico's budget for 2022 is increasing by 50% from 2021.\n \n \n \n Orefinders Full Update: Webinar with CEO\n \n Stephen Stewart\n \n \n \n \n \n Details of Knights Phase 2 Drill Program\n \n \n Orefinders has completed its 4,400 metre Phase 2 drill program at the Knight Gold Project located in the Shining Tree district of the southern Abitibi belt about 100 kilometres southwest of\n \n Kirkland Lake, Ontario\n \n . The Phase 2 program focused on extendin...