Mistango River Resources Inc. has expanded its Omega Gold Project in Ontario by acquiring the adjacent McVittie Property, increasing the project’s size from 257 to 400 hectares—a 60% growth. The acquisition includes eight patented claims with both surface and mining rights, consolidating the northern extension of the Omega property. Omega now comprises 15 leased claims and 10 patents.
The Omega Gold Project, located approximately 25 km east of Kirkland Lake, is situated along the Cadillac-Larder Lake Break (CLLB), a significant gold-bearing structure in the region. Historically, Omega produced around 215,000 ounces of gold between 1926 and 1947. Currently, it hosts an open-pittable resource with a Measured and Indicated Resource of 4.92 million tonnes grading 1.39 g/t gold (219,800 ounces) and an Inferred Resource of 4.69 million tonnes grading 2.43 g/t gold (365,400 ounces), totaling a global resource of 585,000 ounces.
The acquisition aligns with Mistango’s strategy to consolidate key assets along the CLLB, enhancing its position in a district known for high-grade gold deposits. The transaction involves a payment of $25,000 and a 3% Net Smelter Returns (NSR) royalty on the McVittie Property, with Mistango retaining the option to buy back 1% of the NSR for $1 million.