Business
Orefinders Updates on Drilling and Broad Portfolio of Investments
Toronto, Ontario--(Newsfile Corp. - January 25, 2023) - Orefinders Resources Inc. (TSXV: ORX) (OT...
About this update from Orecap Invest Corp
[{"type":"text","content":"Orefinders Updates on Drilling and Broad Portfolio of InvestmentsToronto, Ontario--(Newsfile Corp. - January 25, 2023) - Orefinders Resources Inc. (TSXV: ORX) (OTCQB: ORFDF) (\"Orefinders\" or the \"Company\") is pleased to provide shareholders with an update on its investments, exploration activities and corporate strategy.Equity and Property Investments in:American Eagle and its discovery and drilling of its NAK Copper-Gold Porphyry ProjectQuebec Copper & Gold and its developments at OpemiskaMistango, its agreement with Agnico Eagle and investment in Metal EnergyUpdate on Orefinders option arrangement with Agnico EagleDrilling Update for the Grizzly Gold Project in QuebecUpdate for the GSL Zinc Project in Alberta\"As shareholders will see from the below update, Orefinders has amassed a broad portfolio of physical projects and equity investments that give the Company diversity, optionality and exposure to a wide range of commodities, including gold, copper, zinc and nickel. Orefinders also maintains a strong cash treasury with over $5 million. Shareholders can expect Orefinders to continue to grow its portfolio through exploration, creative transactions and other incubation opportunities that it and the management team at the Ore Group facilitates,\" said Stephen Stewart, Orefinders' CEO.American Eagle Investments - Orefinders owns 7% of shares & 20% of NAK ProjectAmerican Eagle Gold (TSXV: AE) (\"American Eagle\") was a spin-out of Orefinders in 2021, which resulted in 10 million shares of American Eagle going to Orefinders. Orefinders then dividended 5 million of those shares directly to Orefinders shareholders and retained 5 million shares for its treasury, which are still owned.In addition to the 5 million shares of American Eagle it owns, in December 2022, Orefinders announced the closing of an exploration option agreement to acquire a 20% interest in the NAK Copper Gold Project, located in British Columbia.After this, American Eagle announced a discovery on the NAK project. NAK is a classic porphyry copper-gold mineralized target that exhibits many signs of a robust and large-scale system. Highlights of American Eagle's recently completed a 6,000-metre drill program include:NAK22-01 returned 851 m of 0.37% CuEq,including 126 metres of 1.05% CuEq from surfaceNAK22-02 returned 956 m of 0.37% CuEq,including 301 metre...