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Orea Mng Corp (OREAF) provides investors with essential updates on gold exploration projects and strategic mining partnerships through this comprehensive news hub. Access verified press releases and financial disclosures detailing the company's progress in mineral resource development across international jurisdictions.
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Orea Mining Corp. (TSX: OREA) (OTCQX: OREAF) announced a private placement to raise up to CAD$1,000,000 for its strategic action plan in response to U.S. sanctions on joint venture partner Nord Gold. The placement will consist of up to 20,000,000 units priced at CAD$0.05 each, with each unit comprising one common share and a warrant. The company is awaiting the renewal decision for its Montagne d'Or gold mining titles in French Guiana, which holds estimated resources of 5 million ounces of gold.
Orea Mining Corp. reports that its joint-venture partner, Nordgold, has been sanctioned by the U.S. Treasury under Russian sanctions. The sanctions complicate Nordgold's operational responsibilities regarding the Montagne d'Or gold project in French Guiana, where Orea holds a 44.99% interest. Uncertainty surrounds the future of this venture, as Orea consults legal advisors and discusses the implications with Nordgold. The Montagne d'Or project boasts significant mineral resources, including 10.3 Mt at 1.804 g/t gold, but potential operational disruptions loom due to sanctions.
Orea Mining Corp. has announced that the Supreme Court of France has accepted the French Government's final appeal regarding the renewal of mining titles for the Montagne d'Or project in French Guiana. Orea holds a 44.99% interest in the joint venture with Nord Gold. Previous court rulings favored the joint venture, allowing the renewal of the mining titles, which are valid for 25 years. The Montagne d'Or project features significant gold resources, including 600,000 oz of Measured Mineral Resources and 3.25 Moz of Indicated Mineral Resources.
Orea Mining Corp. (TSX: OREA) (OTCQX: OREAF) announces progress on the Antino Gold Project in Suriname. Following an option agreement to acquire a 75% interest, Orea completed initial data acquisition including GIS compilation and LiDAR surveys. The exploration targets potential gold mineralization associated with shear corridors in an area previously mined since 1999. Key targets include Upper Antino and Buese, where shallow pits offer resource development opportunities. Historical drill results indicate high-grade zones, with further drilling planned to confirm these findings.
Orea Mining Corp. held its 2022 Annual General Meeting on March 25, 2022, where shareholders elected Robert Giustra, Peter Gianulis, Marie-Hélène Bérard, and Oleg Pelevin as directors. The voting results showed significant approval for the election of directors, with Bérard receiving 86.89% of votes and appointments of auditors garnering 99.49% approval. Orea continues to focus on gold exploration and development in the Guiana Shield, with major interests in the Montagne d'Or mine and current projects in French Guiana and Suriname.
Orea Mining Corp. (OTCQX: OREAF) has announced promising results from its 2022 diamond drilling program at the Maripa Gold Project in French Guiana. Notably, drill hole MAR-22-019 at the Filon Dron Gold Zone reported an impressive 10.37 g/t gold over 9.2 meters. Drill holes at the Changement Gold Zone also yielded significant intersections, with 4.13 g/t over 8.1 meters and 5.39 g/t over 24.3 meters. Gold assay results are pending for two other drill holes. The company continues to demonstrate economic potential with these promising findings.
Orea Mining Corp. announced a Formal Option Agreement to acquire up to a 75% interest in the Antino Gold Project in Suriname. Following a Binding Term Sheet signed in July 2021, the FOA has now been executed. An airborne LiDAR survey has provided valuable data for project development, and geological mapping is underway. The acquisition includes three option stages, starting with a 51% interest upon completing cash payments and exploration expenditures. The project is situated in a region known for alluvial mining, which enhances its potential.
Orea Mining Corp. (OREAF) is monitoring reports concerning Alexei Mordashov, a sanctioned oligarch, and his recent transfer of a US$1.1 billion stake in Nordgold to his wife. Mordashov previously held control of Nordgold, which owns 55.01% of the Montagne d'Or project in French Guiana, in which Orea has a 44.99% interest. The potential impact of these events on Nordgold’s responsibilities to Orea is currently unclear. Orea’s management is in consultation with legal advisors to navigate this situation.
Orea Mining Corp. reported promising initial results from its 2022 diamond drilling program at the Maripa Gold Project in French Guiana. The company has received permits for 10,000 meters of drilling and completed six holes, tracing the Changement Gold Zone over a 1.5 km strike. Significant gold intersections were reported, including 4.13 g/t over 8.1 meters and 5.39 g/t over 24.3 meters. CEO Rock Lefrançois expressed optimism about the project's economic potential, highlighting its historical production and exploration prospects.
Orea Mining Corp. (OTCQX: OREAF) announced that the French Constitutional Court ruled against the "automatic" renewal provision for historical mining titles, which may impact the Montagne d'Or gold project. The ruling stemmed from an unrelated case initiated by NGO France Nature Environnement. Although the Constitutional Court's decision is applicable only to ongoing proceedings, there remains uncertainty regarding the implications for Orea's mining titles. Currently, the case is under the French Supreme Court's review.
