Orecap: Kerr Addison Tailings Evaluation Announced, Unlocking Value from Legacy Assets
Orecap Invest Corp (TSXV: OCI) (OTCQB: ORFDF) has announced plans to evaluate and reprocess historic tailings from the Kerr-Addison mine in Virginiatown, Ontario. The company owns approximately 36 million tonnes of tailings from the historic mine, which previously produced 11 million ounces of gold at 9 g/t.
The initiative is supported by Ontario's new mining regulations, effective July 1, 2025, which simplify permitting for mine waste reprocessing projects. While definitive grades are not yet established, historical inefficiencies in metallurgical recoveries from the 1930s-1990s suggest potential residual gold content. Neighboring operation Gold Candle's studies show gold recoveries ranging from 70.2% to 92.5% on similar mineralization.
Orecap plans to pursue a joint venture/profit-sharing model, partnering with industry experts in tailings reprocessing and metallurgy to minimize exposure while leveraging third-party expertise.
Orecap Invest Corp (TSXV: OCI) (OTCQB: ORFDF) ha annunciato piani per valutare e ri-processare le scorie storiche della miniera Kerr-Addison a Virginiatown, Ontario. L'azienda possiede circa 36 milioni di tonnellate di scorie della miniera storica, che in passato ha prodotto 11 milioni di once d'oro a una media di 9 g/t.
L'iniziativa è sostenuta dalle nuove normative minerarie dell'Ontario, che entreranno in vigore il 1° luglio 2025, semplificando il permesso per i progetti di ri-elaborazione dei rifiuti minerari. Sebbene i gradi definitivi non siano ancora stati stabiliti, le inefficienze storiche nei recuperi metallurgici dal 1930 al 1990 suggeriscono un potenziale contenuto d'oro residuo. Gli studi dell'operazione vicina Gold Candle mostrano recuperi d'oro che variano dal 70,2% al 92,5% su mineralizzazioni simili.
Orecap prevede di perseguire un modello di joint venture/condivisione dei profitti, collaborando con esperti del settore nella ri-elaborazione delle scorie e nella metallurgia per minimizzare l'esposizione, facendo leva sull'esperienza di terzi.
Orecap Invest Corp (TSXV: OCI) (OTCQB: ORFDF) ha anunciado planes para evaluar y reprocesar los relaves históricos de la mina Kerr-Addison en Virginiatown, Ontario. La compañía posee aproximadamente 36 millones de toneladas de relaves de la mina histórica, que anteriormente produjo 11 millones de onzas de oro a 9 g/t.
La iniciativa cuenta con el respaldo de las nuevas regulaciones mineras de Ontario, que entrarán en vigor el 1 de julio de 2025, las cuales simplifican la obtención de permisos para proyectos de reprocesamiento de residuos mineros. Aunque los grados definitivos aún no se han establecido, las ineficiencias históricas en la recuperación metalúrgica de las décadas de 1930 a 1990 sugieren un posible contenido residual de oro. Los estudios de la operación vecina Gold Candle muestran recuperaciones de oro que varían del 70,2% al 92,5% en mineralizaciones similares.
Orecap planea seguir un modelo de empresa conjunta/compartición de beneficios, asociándose con expertos de la industria en reprocesamiento de relaves y metalurgia para minimizar la exposición, aprovechando la experiencia de terceros.
Orecap Invest Corp (TSXV: OCI) (OTCQB: ORFDF)는 온타리오주 버지니아타운에 위치한 케르-애디슨 광산의 역사적 광미를 평가하고 재처리할 계획을 발표했습니다. 이 회사는 약 3600만 톤의 광미를 보유하고 있으며, 이 광산은 과거에 9 g/t의 품위로 1100만 온스의 금을 생산했습니다.
이번 이니셔티브는 2025년 7월 1일부터 시행되는 온타리오의 새로운 광업 규정의 지원을 받으며, 이는 광산 폐기물 재처리 프로젝트에 대한 허가 절차를 간소화합니다. 비록 최종 품위는 아직 확립되지 않았지만, 1930년대부터 1990년대까지의 금속 회수에서 발생했던 역사적 비효율성은 남아 있는 금의 함량 가능성을 시사합니다. 인근 금 캔들(Gold Candle)의 연구에 따르면 유사한 광물화에서 금 회수율은 70.2%에서 92.5%까지 다양합니다.
Orecap은 노출을 최소화하고 제3자의 전문성을 활용하기 위해 광미 재처리 및 금속공학 분야의 전문가와 협력하는 공동 사업/수익 공유 모델을 추구할 계획입니다.
Orecap Invest Corp (TSXV: OCI) (OTCQB: ORFDF) a annoncé des projets pour évaluer et reprendre les résidus historiques de la mine Kerr-Addison à Virginiatown, Ontario. La société possède environ 36 millions de tonnes de résidus issus de la mine historique, qui a précédemment produit 11 millions d'onces d'or avec un grade moyen de 9 g/t.
Cette initiative est soutenue par les nouvelles réglementations minières de l'Ontario, qui entreront en vigueur le 1er juillet 2025, et qui simplifient l'octroi de permis pour les projets de reprocessement des déchets miniers. Bien que les grades définitifs ne soient pas encore établis, les inefficacités historiques des récupérations métallurgiques des années 1930 à 1990 suggèrent un potentiel contenu résiduel en or. Les études de l'opération voisine Gold Candle montrent des récupérations d'or variant de 70,2 % à 92,5 % sur une minéralisation similaire.
Orecap envisage de poursuivre un modèle de joint-venture/partage des bénéfices, en s'associant à des experts de l'industrie dans le domaine du reprocessement des résidus et de la métallurgie pour minimiser l'exposition tout en profitant de l'expertise de tiers.
Orecap Invest Corp (TSXV: OCI) (OTCQB: ORFDF) hat Pläne angekündigt, die historischen tailings der Kerr-Addison-Mine in Virginiatown, Ontario, zu bewerten und neu zu verarbeiten. Das Unternehmen besitzt etwa 36 Millionen Tonnen tailings aus der historischen Mine, die zuvor 11 Millionen Unzen Gold mit 9 g/t produziert hat.
Die Initiative wird durch die neuen Bergbauvorschriften in Ontario unterstützt, die am 1. Juli 2025 in Kraft treten und die Genehmigungsprozesse für Projekte zur Wiederaufarbeitung von Bergbauabfällen vereinfachen. Während endgültige Gehalte noch nicht festgelegt sind, deuten historische Ineffizienzen in den metallurgischen Rückführungen von den 1930er bis 1990er Jahren auf einen potenziellen Restgoldgehalt hin. Studien des benachbarten Betriebs Gold Candle zeigen Goldgehalte von 70,2 % bis 92,5 % bei ähnlicher Mineralisierung.
Orecap plant die Verfolgung eines Joint-Venture-/Gewinnbeteiligungsmodells, das eine Zusammenarbeit mit Branchenspezialisten in der Rückverarbeitung von tailings und Metallurgie einschließt, um die Exposition zu minimieren und das Know-how Dritter zu nutzen.
- Ownership of substantial tailings volume (36M tonnes) from a historically high-grade gold mine
- New Ontario regulations simplifying permitting process for tailings reprocessing
- Risk-minimizing approach through joint venture/profit-sharing model
- Agnico Eagle Mines holds 9.9% stake in the company
- Undefined tonnage and grade data for the tailings
- No established metallurgical recovery rates specific to the tailings material
- Project success dependent on finding suitable joint venture partners
Highlights:
- Orecap owns ~36 million tonnes of tailings from the historic Kerr-Addison Mine, one of Canada's highest-grade gold producers, with 11 million ounces of past production.
- The Province of Ontario's updated mining regulations unlock opportunities for sustainable reprocessing of residual metals in tailings.
- Orecap plans to collaborate with experts to assess metallurgical potential and develop a low-risk processing plan.
- The initiative aligns with global trends, leveraging proven models to explore economic and environmental benefits of tailings reprocessing.
Toronto, Ontario--(Newsfile Corp. - January 28, 2025) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the "Company" or "Orecap") is pleased to unveil its plan to evaluate and reprocess the historic tailings of the Kerr-Addison mine, one of Canada's most storied and highest-grade gold producers. The Kerr-Addison mine, located in Virginiatown, Ontario, has produced a remarkable ~11 million ounces of gold at 9 g/t, earning its place as a key chapter in Canada's mining history. Today, Orecap, within its McGarry property boundary, owns virtually all the mine's tailings, estimated at approximately 36 million tonnes.
LINK TO MAP OF KERR ADDISON TAILINGS AT MCGARRY
Unlocking Untapped Potential
While definitive tonnage and grade data for the tailings is not yet established, historical and modern metallurgical insights suggest the presence of residual gold in the tailings. Metallurgical recoveries from the 1930s through to the 1990's were less efficient than today's standards. This historical inefficiency leaves room for optimism about the economics of the residual gold within the tailings.
Further optimism comes from modern metallurgical data collected by neighboring operations, including studies by Gold Candle Ltd ("Gold Candle"). While Gold Candle does not own the Kerr-Addison tailings, their work on nearby deposits with similar mineralization styles provides valuable benchmarks. According to Gold Candle's metallurgical recovery projections, published in their NI 43-101 report dated August 24, 2023 (Section 13.14), the reported gold recoveries range from
A Change Ontario Mining Code - Simplified permitting for reprocessing projects
Orecap's initiative aligns closely with Ontario's new regulatory changes, simplifying processes for recovering metals and minerals from mine waste at operating, closed, or abandoned sites. Set to launch on July 1, 2025, this groundbreaking regulation positions Ontario as a leader in sustainable mining practices.
Highlights of the regulation include:
Simplified permitting for mine waste reprocessing projects.
Streamlined requirements for public land projects, removing the need for a full closure plan or mining lease.
Strong safeguards for health, safety, and environmental protection.
This regulatory shift represents a significant step forward for the industry, supporting Ontario's Critical Minerals Strategy and providing a framework for innovative projects like Kerr-Addison.
The landscape is changing, especially in Ontario. The province has introduced new regulatory frameworks under the Mining Act to support the recovery of residual metals and minerals from mine waste. This forward-thinking approach emphasizes environmental cleanup while unlocking economic value, creating jobs, and driving innovation.
A Strategic Plan for Progress
Orecap intends to pursue a joint venture and/or profit-sharing model for this project, partnering with industry experts specializing in tailings reprocessing and metallurgy. These partners will focus on defining the metallurgical and economic potential of the tailings, developing a processing flow sheet, and evaluating options for sustainable operations. In return, they will earn a share of the profits.
This approach minimizes Orecap's exposure while leveraging third-party expertise to assess and unlock the opportunity.
Learning from Global Comparables
Tailings reprocessing is not without precedent. In South Africa's Witwatersrand Basin, billions of tonnes of tailings have been reprocessed, demonstrating the viability of this model when aligned with strong economic drivers and environmental priorities. While not every tailings facility can replicate this success, the Kerr-Addison project offers a unique opportunity to explore these possibilities in a Canadian context.
Looking Ahead
As Orecap advances its plan, the Company remains committed to transparency and collaboration with stakeholders, including Indigenous communities, regulators, and local partners. Updates on the Kerr-Addison tailings reprocessing project will be shared as key milestones are achieved.
Orecap's Current Equity Holdings include:
| Company (Ticker) | Shares Owned / (% of Outstanding Shares) |
| Mistango River Resources (MIS:CSE) | 24,708,975 / ( |
| XXIX Metal Corp. (XXIX:TSXV | QCCUF:OTCQB) | 39,096,852/ ( |
| American Eagle Gold (AE:TSXV | AMEGF:OTCQB) | 11,783,748 / ( |
| Awale Resources (ARIC:TSXV) | 7,389,833 + 4,166,666 warrants / ( |
| Metal Energy (MERG: TSXV) | 5,125,000 + 2,562,500 warrants / ( |
Qualified Person Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for QC Copper & Gold, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Orecap Invest Corp.
Orecap seeks special situation investments in the natural resource sector that offer shareholders diverse exposure to high returns on precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF), Mistango (CSE: MIS), Awale Resources (TSXV: ARIC), and Metal Energy Corp. (TSXV: MERG). in addition to owning a broad portfolio of land packages focused on gold, copper and zinc. Agnico Eagle Mines Limited is a
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Orecap Invest Corp.
Stephen Stewart, Chief Executive Officer
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Forward-Looking Statements
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements)", including details about the business of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in the Company's public disclosure documents available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238623
FAQ
How many tonnes of tailings does Orecap (ORFDF) own at the Kerr-Addison mine?
When will Ontario's new mining regulations for tailings reprocessing take effect?
What was the historical gold production and grade at the Kerr-Addison mine?
What is Orecap's (ORFDF) strategy for developing the Kerr-Addison tailings project?
What are the projected gold recovery rates for similar mineralization near Kerr-Addison?
