Orecap Identifies Major Ultramafic Target at McGarry Property

Orecap Invest Corp. has announced the discovery of a significant ultramafic target at the McGarry property, located in Ontario’s famed Kirkland Lake gold district. This area is renowned for its high-grade gold mines, including the historic Kerr Addison mine. The newly identified target presents an intriguing opportunity for potential mineral exploration.

Strong geophysical anomalies have been detected at depths ranging from approximately 250 metres to over 1,000 metres, revealing a large, never-drilled ultramafic feature. This discovery was facilitated by a Magnetotellurics (MT) survey, which highlighted a deep geological structure beneath the sedimentary cover, a finding that conventional Induced Polarization (IP) methods could not detect.

Details of the Geophysical Survey

The MT survey suggests a folded ultramafic unit in contact with overlying sediments, forming a synclinal structure that plunges to the west. Notably, this anomaly has not been intersected by previous drilling, and its presence challenges earlier assumptions regarding the depth of sedimentary units in the area. The MT response indicates a low-resistivity body beneath the sediments, potentially analogous to the geological formations that host existing gold deposits in the district.

According to Charles Beaudry, Director of Orecap and Stardust, “If it is an ultramafic unit as postulated, it has never been tested in drilling or seen in underground workings.” Beaudry further emphasized the possibility that fluids linked to the Kerr Addison deposit could have penetrated this geological domain.

Implications for Future Exploration

The identification of this never-drilled target underscores the potential for discovering new, high-grade zones at depth. The McGarry Project, which is entirely owned by Orecap, is strategically located adjacent to several historic and currently operating high-grade mines, enhancing its exploration appeal. Stardust Metal Corp. has entered into an agreement to invest up to $63.5 million for a 75% interest in the McGarry Project, reflecting a strong commitment to advancing exploration efforts.

To refine the target further, Stardust plans to conduct an Ambient Noise Tomography (ANT) survey, which will provide high-resolution imaging of density-velocity contrasts. This technique aims to offer detailed insights into the anomaly’s depth, size, and geometry, guiding the first-ever drill testing of this significant ultramafic target.

The technical information presented in this announcement has been reviewed by Charles Beaudry, a Qualified Person as defined by National Instrument 43-101. Orecap adheres to rigorous Quality Assurance protocols for its exploration activities, ensuring the integrity of the data collected.

Orecap Invest Corp. focuses on special situation investments in the natural resources sector, aiming to provide shareholders with exposure to high returns in precious and critical metal assets. The company holds significant equity positions in various portfolio companies, including American Eagle Gold, XXIX Metal Corp., and others, along with a diverse land portfolio targeting gold, copper, and zinc.

For more information on Orecap and their initiatives, interested parties can visit their official website or contact the company directly.