Alamos Gold Inc. has announced its acquisition of all issued and outstanding common shares of Orsa Ventures Corp. through an agreeable court-approved plan of arrangement. Orsa is a junior exploration company focused on precious metal properties in the western U.S. On closing, Alamos will assume ownership of Orsa’s right to earn a 100%-interest in the Quartz Mountain Property in Oregon, along with other assets in Oregon and Nevada.
Alamos CEO John McCluskey voiced enthusiasm. “This is aligned with our strategy of adding quality to our pipeline,” he said. “The resource and location in Nevada makes this a compelling, low-risk opportunity for us.”
Orsa President Linda Thorstad had a similar perspective. “This transaction represents a premium in what has been a difficult market with volatile metal prices,” she said in a statement.
The Quartz Mountain Property lies on the northern extension of the prolific Basin and Range Province of Nevada and hosts an inferred resource of 2.85 million oz of gold, grading 0.80 g/t.