Mistango River closes McVittie property acquisition, Ontario
Mistango River Resources Inc. [CSE: MIS] reported that it has closed its acquisition of the McVittie property immediately adjacent to its 100%-owned Omega Gold Project to the north.
Highlights: Omega now comprises 15 leased claims and 10 patents; property size increased from 257 hectares to 400 hectares; Strategic Growth Asset in a world-class District Close to MAG Silver, Agnico Eagle and Gold Candle.
McVittie is located in south-central McVittie Township, in the Larder Lake Mining Division of northeastern Ontario, approximately 25km east of Kirkland Lake, Ontario. McVittie comprises eight patents with surface and mining rights and is contiguous with the northern portion of Omega. The acquisition has increased Omega’s property size from 257 hectares to 400 hectares.
Omega is a strategic growth asset in a multi-million-ounce gold district that is primed for consolidation-the Cadillac Larder Lake Break (CLLB). Omega historically produced ~215,000 ounces grading 5.41 g/t gold between 1926-1928 and 1936-1947. Omega currently hosts an open pittable resource, including a Measured and Indicated Resource of 4.92 Mt grading 1.39 g/t gold (219.8 Koz), and an Inferred Resource of 4.69 Mt grading 2.43 g/t gold (365.4 Koz)1.
The prolific CLLB, and the larger Kirkland Lake district, host some of the highest-grade gold resources globally. Immediately adjacent to and surrounding Omega is MAG Silver’s [MAG: TSX] Larder Project which hosts a historical indicated resource of 5.13 million tonnes grading 2.39 g/t gold (388 Koz), and a historical inferred resource of 6.89 million tonnes grading 4.21 g/t gold (933 Koz).
Near the town of Kirkland Lake, Ontario (30km west of Omega), the Cadillac Break hosts Agnico Eagle’s Macassa Mine, one of the world’s highest grade gold deposits, which produced 279,384 ounces of gold at an average grade of 15.55 g/t gold in 2024. Located 10km east of Omega, in the town of Virginiatown, the historical Kerr Addison mine produced 11 Moz at 9 g/t gold and currently hosts an indicated resource of 69.2 million tonnes grading 1.5 g/t gold (3.31 Moz), and an inferred resource of 55.6 million tonnes grading 1.3 g/t gold (2.36 Moz). North of Omega and the CLLB, Agnico Eagle is developing their multi-million-ounce Upper Beaver deposit.
Mistango acquired the McVittie property from Jubilee for $25,000 and a 3% NSR on McVittie, with Mistango having the right to purchase 1% of the 3% from the vendor for $1,000,000.