Kirkland Lake Gold to invest in Mistango and Orefinders
(Kitco News) - Mistango River Resources (CSE: MIS) today announced a strategic partnership with Kirkland Lake Gold wherein Kirkland Lake Gold will acquire a 9.9% interest in the company.
Additionally, Mistango has granted Kirkland Lake Gold the option to acquire up to a 75% interest in its Kirkland West and Omega projects in exchange for spending $60 million on the projects.
In a separate and distinct transaction, KL Gold has also entered into an agreement with Orefinders Resources (ORX: TSXV), whereby Kirkland Lake Gold will be acquiring a 9.9% equity interest in Orefinders. Additionally, KL Gold will have the option to acquire a 75% interest in Orefinders' Knight, McGarry and Mirado projects in return for spending $60 million in exploration.
"Mistango and Orefinders are excited to jointly announce this unique partnership and equity investment with a top-tier operator like KL Gold. We see this as a testament to our assets' quality and our specific focus with the Kirkland Lake district of Ontario. With Kirkland Lake Gold's financial and technical support, we are excited to realize our portfolio's full potential while also seeking new acquisition opportunities," said Stephen Stewart, CEO of Orefinders Resources and Chairman of Mistango.
Mistango is a Canadian-based exploration and development company focused on its Kirkland West and Omega projects in the Kirkland Lake District of Ontario's Abitibi Greenstone Belt.