Orefinders Resources Inc. (TSX-V: ORX) has entered into a definitive agreement to acquire a 100% interest the McGarry Mine and Barber-Larder Properties from Kerr Mines Inc., formerly known as Armistice Resources Ltd.
Stephen Stewart, Orefinders CEO, said, “McGarry’s combination of its existing resources, its proximity to major mines (the Kerr-Addison Mine) and ore bodies, its mine infrastructure, ease of access and its significant exploration upside opportunity make this a highly accretive transaction for shareholders. McGarry fits right in line with our Mirado Mine and Knight projects, all of which are in the Abitibi, have known resources, former production, significant resource expansion potential and access to infrastructure.
“We like to take advantage of work that’s been done in the past, then apply our geologic understanding and approach designed to ultimately define larger and new ore bodies. Orefinders now owns three such assets, all within a tight radius of each other.”