STOCK TITAN

OMEGA PAC RES INC - OMGPF STOCK NEWS

Welcome to our dedicated page for OMEGA PAC RES news (Ticker: OMGPF), a resource for investors and traders seeking the latest updates and insights on OMEGA PAC RES stock.

Omega Pacific Resources Inc. (OMGA: CSE) is a mineral exploration company focusing on base and precious metals projects. The company recently commenced its 2024 drill program at the Williams Property in British Columbia's Golden Horseshoe region. The Phase 1 exploration aims to expand mineralization at the GIC Prospect following the success of the previous drill campaign. Omega Pacific also intends to raise funds through a proposed non-brokered private placement to support Canadian exploration expenses. Furthermore, the company has engaged in a consulting agreement with Spark Newswire to enhance its investor relations and market visibility.

Rhea-AI Summary

Omega Pacific Resources Inc. (CSE:OMGA)(OTCQB:OMGPF) has amended its Williams Property Option/Joint Venture Agreement with CopAur Minerals Inc. The key changes include:

1. Reduced exploration expenditures from $3,000,000 to $2,000,000 to earn a 51% interest by February 28, 2025.

2. Extended timeline for earning an additional 29% interest, requiring $4,000,000 in expenditures by February 28, 2027.

3. Omega Pacific to pay CopAur Minerals $50,000 upon execution of the amendment.

CEO Jason Leikam stated that this restructuring allows for better analysis of recent exploration results and development of a focused strategy for the next phase, aiming to deliver value for shareholders.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Omega Pacific Resources (CSE:OMGA)(OTCQB:OMGPF) has announced promising drill results from its Williams Property in British Columbia's Golden Horseshoe. The second drill hole (WM24-02) of Phase One revealed three separate gold zones, demonstrating bulk-tonnage gold mineralization:

1. Principal zone: 1.09 g/t Gold over 57.98 metres
2. Central zone: 0.57 g/t Au over 26.3 m
3. North zone: 2.18 g/t over 8.41 m within 1.33 g/t Au over 28.24 m

These zones are separated by 30 m and 50 m respectively. The company has now identified over 600 lateral metres of gold mineralization, with potential for several kilometers of strike length to explore. The mineralization remains open to the east, west, and at depth, presenting significant exploration upside.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Omega Pacific Resources Inc. (CSE:OMGA)(OTCQB:OMGPF) has provided an interpretation of recent assay results from drill hole WM24-01 at its Williams Property GIC Prospect. Key highlights include:

  • Robust gold mineralization along chargeability and resistivity anomalies
  • Strong grades in WM24-01 (6.22 g/t Au over 18.98m and 1.69 g/t Au over 104m)
  • Similarities between WM24-01 and historical drill hole WM22-02
  • Moderate IP anomalies proving to be effective vectors to gold mineralization

The company plans to expand drilling near these holes and along the >4 km GIC trend. Omega Pacific also announced the appointment of Mark Minckler as CFO and Director, effective July 31, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
Rhea-AI Summary

Omega Pacific Resources (CSE:OMGA, OTCQB:OMGPF) has announced impressive drill results from its 2024 program at the Williams Property in British Columbia's Golden Horseshoe. The highlight is drill hole WM24-01, which intersected:

- 6.22 g/t Au over 18.98 m
- 3.16 g/t Au over 44.32 m
- 1.69 g/t Au over 104.08 m

These results confirm the potential for high-grade and bulk-tonnage gold mineralization at the GIC Prospect. The company's CEO, Jason Leikam, expressed excitement about the strong start to the Phase 1 program and the presence of high-grade mineralization. Omega Pacific plans to continue drilling up to 2,000 m at the GIC Prospect and will report additional results throughout the summer.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-14.94%
Tags
none
-
Rhea-AI Summary

Omega Pacific has outlined the details of its newly acquired Williams Project in British Columbia's Golden Horseshoe. The 11,490 ha property features extensive historical drilling with promising gold occurrences. Omega has engaged APEX Geoscience to lead its Phase 1 exploration, targeting the GIC Prospect, which showed 2.2 g/t Au over 50m in a 2022 drill hole. The project is fully permitted, and initial assay results are expected in July. The Williams Project includes two main targets: the T-Bill, rich in mesothermal gold, and the GIC Prospect, known for copper-gold-molybdenum mineralization.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Omega Pacific has concluded the initial tranche of its non-brokered private placement of flow-through common shares, raising C$1,084,740. This offering involved the issue of 1,485,945 shares priced at C$0.73 each. CEO Jason Leikam highlighted the support from mining investors and noted the funds will advance exploration at the Williams Property in northern British Columbia. The gross proceeds are earmarked for Canadian exploration expenses, qualifying as flow-through mining expenditures. The expenditures are to be completed by December 31, 2025. In connection with the offering, Omega will pay C$75,932 and 103,281 finder's warrants, with varying exercise prices, to eligible persons. All issued securities are subject to a four-month hold period and CSE's acceptance.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
private placement
Rhea-AI Summary

Omega Pacific Resources announced the commencement of its 2024 drilling program at the Williams Property in British Columbia's Golden Horseshoe.

The project aims to expand the mineralization discovered at drill hole WM22-02, which showed promising results with 50 meters of 2.2 g/t gold in 2022.

The Phase 1 drill program will cover up to 2,000 meters with three drill holes from the same pad at the GIC Prospect. APEX Geoscience is engaged to oversee the program.

Omega also launched a non-brokered private placement aiming to raise up to $2.5 million through the sale of 3,424,657 flow-through shares at $0.73 each. The funds will be used for eligible exploration expenses in British Columbia.

The company has also entered a consulting agreement with Spark Newswire for investor relations and advisory services.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
News
Rhea-AI Summary

Omega Pacific Resources has announced its successful approval for quotation on the OTCQB by FINRA. Starting today, the company's common shares will trade under the ticker symbol 'OMGPF' on the OTCQB while continuing to be listed on the CSE as 'OMGA.' Omega Pacific has also completed the application process for OTC Market and DTC eligibility. CEO Jason Leikam stated that the new listing on OTCQB will enhance the company's visibility, making it accessible to a broader range of U.S. investors, thereby increasing liquidity and providing real-time quotes and market information. The OTCQB market is noted for its high-quality trading standards, transparency, and improved investor information experience.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none

FAQ

What is the current stock price of OMEGA PAC RES (OMGPF)?

The current stock price of OMEGA PAC RES (OMGPF) is $0.5531 as of July 30, 2024.

What is the market cap of OMEGA PAC RES (OMGPF)?

The market cap of OMEGA PAC RES (OMGPF) is approximately 13.6M.

What is Omega Pacific Resources Inc. focused on?

Omega Pacific is a mineral exploration company concentrating on base and precious metals projects.

What is the recent development at the Williams Property?

The company started its 2024 drill program (Phase 1) to expand mineralization at the GIC Prospect.

How is Omega Pacific raising funds for exploration expenses?

The company is planning a non-brokered private placement of flow-through shares.

What consulting agreement has Omega Pacific entered into?

Omega Pacific has engaged in a consulting agreement with Spark Newswire for investor relations and market visibility services.

OMEGA PAC RES INC

OTC:OMGPF

OMGPF Rankings

OMGPF Stock Data

13.60M
United States of America