Mistango River Resources Inc. is set to begin a 28-hole drill program at the Omega Gold Project in Kirkland Lake, Ontario. The project holds an NI 43-101 compliant gold resource with 220,000 oz indicated at 1.39 g/t and 365,000 oz inferred at 2.42 g/t. Omega is located in the Kirkland Lake gold district, a historically prolific area that has previously produced 215,000 oz of gold.
In a leadership transition, CEO Jamie Spratt has stepped down to pursue a new role in mining equity research. Mistango maintains a strong financial position with $3.7 million in cash, ensuring the funding for the drill program and positioning the Company for further growth.
The 28-hole drill program at Omega will focus on expanding near-surface mineralization, starting in mid-September. Phase 1 of the program will consist of six drill holes to test the southwest strike of known mineralization, with Phases 2 and 3 to follow up on the initial results. The program will also explore potential parallel structures indicated by historic intercepts, with results expected in Q4 2024.
Omega’s NI 43-101 compliant gold resource includes 220,000 oz indicated at 1.39 g/t and 365,000 oz inferred at 2.42 g/t. The project, located in Kirkland Lake, is 30km east of Kirkland Lake and adjacent to the Kerr Addison mine. Mistango is committed to advancing the Omega project and evaluating its resource and exploration data to expand its resource base.
The technical information in this news release has been reviewed and approved by Charles Beaudry, P.Geo., Director of Mistango, and a Qualified Person as defined in National Instrument 43-101. Mistango River Resources Inc. is a Canadian-based exploration company with interests in properties in Kirkland Lake, Ontario, and the Shebandowan Greenstone Belt. For further information, please contact Mistango River Resources at 416-644-1657 or sstewart@oregroup.ca.
This press release contains forward-looking statements, and Mistango assumes no obligation to update these statements unless required by securities laws. Additional information on risks and uncertainties can be found in filings by Mistango with Canadian securities regulators.
SOURCE: Mistango River Resources Inc.
