Omega Pacific Resources Inc. has acquired additional exploration claims at its Williams property in British Columbia’s Golden Horseshoe. Three mineral exploration claims comprising 51.716 hectares were acquired pursuant to an asset purchase agreement dated as of May 22, 2024, with Steven Scott. The company also reports it staked 1,707 hectares of new claims directly east of the Williams property, adjacent to the GIC gold-copper target.
Jason Leikam, Omega Pacific chief executive officer, commented: “The purchased claims and staked claims significantly expand the opportunity of the GIC gold-copper target. In particular, the purchased claims, just a short distance from hole WM22-02, secure the complete known target. Surface work on these claims, completed by past owners, shows positive geochemical data that is highly correlative to what we see on our existing claims. The acquisition of both the staked and purchased claims is excellent timing, immediately prior to our upcoming exploration program. We will now expand the program with surface work to generate additional drill targets on these new areas. Over all, the increase in our claim package directly along strike of the GIC target further bolsters confidence in exploration success at the Williams property.”
Purchase details
The purchased claims are located directly west of the GIC gold-copper target at the Williams property. A Copaur Minerals press release dated Aug. 16, 2022, reported results from a drill program at the GIC target. Notably, hole WM22-02 located on the western half of the GIC target intercepted 2.2 grams per tonne gold over 50 metres, including 4.2 g/t Au over 10.5 m at the bottom of the hole, which ended in mineralization. The company is planning a 2024 exploration program at the GIC target to follow up on those compelling results. The purchased claims increase the potential strike of the GIC target to over two kilometres on the company’s claims.
As consideration for the purchased claims, the company will issue 71,500 common shares of the company to the vendor at a deemed price of 70 cents per share, representing an aggregate value of $50,000. The shares under the APA are subject to regulatory approval and a statutory four-month hold period from the date of issuance. No finder’s fee or commission was paid in connection with the issuance of the shares. Closing of the APA is subject to approval of the Canadian Securities Exchange.
Additionally, the company has entered into an investor relations service agreement with MIC Market Information & Content Publishing GmbH beginning on June 1, 2024. Pursuant to the agreement, MIC has agreed to provide investor communication and on-line marketing services to the company for a period of six months until Dec. 1, 2024, in exchange for a fee of 250,000 euros upon receipt of an invoice.
The services include analytics, content creation and publishing, digital and social media marketing, and other related investor communication services. MIC and its principals are arm’s length to the company.
Qualified person
Robert L’Heureux, PGeo, director of Omega Pacific, is the qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), and has reviewed, validated and approved the scientific and technical information contained in this news release. Mr. L’Heureux oversees exploration planning and execution at the Williams property.
About Omega Pacific Resources Inc.
Omega Pacific is a mineral exploration company focused on the development of mineral projects containing base and precious metals.
