CORRECTION: Orogen Royalties Announces 34% Increase in Gold Resources at the Merlin Deposit
Orogen Royalties has announced a significant update to their Expanded Silicon project in Nevada, where project owner AngloGold Ashanti reported an updated Inferred Resource of 12.1 million ounces gold at the Merlin deposit. This represents a 34% increase in gold resources, with the deposit now containing 355 million tonnes grading 1.06 g/t gold.
The new Merlin resource shows a 25% increase in tonnes and a 7% increase in gold grade from the February 2024 announcement. This is separate from the 4.22 million ounce gold resource at the Silicon deposit, giving Orogen exposure to approximately 16.31 million ounces of gold through their 1% net smelter return royalty.
Key developments include completion of 132 kilometres of drilling within the Merlin area in 2024, with exploration drilling east of Merlin encountering potential fault offset extension. The pit design has increased 70% in size to 6.3 square kilometres. AngloGold plans to continue drilling into 2025 to support resource upgrades, with a pre-feasibility study expected in H2-2025.
Orogen Royalties ha annunciato un aggiornamento significativo al loro progetto Expanded Silicon in Nevada, dove il proprietario del progetto AngloGold Ashanti ha riportato una Risorsa Indicata aggiornata di 12,1 milioni di once d'oro presso il deposito Merlin. Questo rappresenta un aumento del 34% delle risorse d'oro, con il deposito che ora contiene 355 milioni di tonnellate con una gradazione di 1,06 g/t d'oro.
La nuova risorsa di Merlin mostra un aumento del 25% delle tonnellate e un incremento del 7% della gradazione d'oro rispetto all'annuncio di febbraio 2024. Questo è separato dalla risorsa di 4,22 milioni di once d'oro presso il deposito Silicon, dando a Orogen un'esposizione a circa 16,31 milioni di once d'oro attraverso il loro royalty del 1% sul ritorno della fusione netta.
I principali sviluppi includono il completamento di 132 chilometri di perforazioni all'interno dell'area di Merlin nel 2024, con perforazioni esplorative a est di Merlin che hanno incontrato potenziali estensioni di offset da faglia. Il design del bacino è aumentato del 70% in dimensioni, raggiungendo i 6,3 chilometri quadrati. AngloGold prevede di continuare le perforazioni fino al 2025 per supportare gli aggiornamenti delle risorse, con uno studio di pre-fattibilità previsto per il secondo semestre del 2025.
Orogen Royalties ha anunciado una actualización significativa de su proyecto Expanded Silicon en Nevada, donde el propietario del proyecto AngloGold Ashanti reportó un recurso inferido actualizado de 12.1 millones de onzas de oro en el depósito Merlin. Esto representa un aumento del 34% en los recursos de oro, con el depósito que ahora contiene 355 millones de toneladas con una ley de 1.06 g/t de oro.
El nuevo recurso de Merlin muestra un aumento del 25% en toneladas y un incremento del 7% en la ley de oro desde el anuncio de febrero de 2024. Esto es independiente de los 4.22 millones de onzas de oro en el depósito Silicon, lo que le da a Orogen una exposición a aproximadamente 16.31 millones de onzas de oro a través de su regalía del 1% sobre el retorno neto de fundición.
Los desarrollos clave incluyen la finalización de 132 kilómetros de perforación dentro del área de Merlin en 2024, con perforaciones exploratorias al este de Merlin que encontraron posibles extensiones de desplazamiento por falla. El diseño de la mina ha aumentado un 70% en tamaño, alcanzando 6.3 kilómetros cuadrados. AngloGold planea continuar perforando hasta 2025 para respaldar las actualizaciones de recursos, con un estudio de pre-factibilidad esperado para el segundo semestre de 2025.
Orogen Royalties는 네바다의 Expanded Silicon 프로젝트에 대한 중요한 업데이트를 발표했습니다. 이 프로젝트의 소유자인 AngloGold Ashanti는 Merlin 매장지에서 1210만 온스의 금 자원을 업데이트하여 보고했습니다. 이는 금 자원이 34% 증가한 것으로, 현재 매장지는 3억 5500만 톤의 금 함량이 1.06 g/t입니다.
새로운 Merlin 자원은 2024년 2월 발표와 비교하여 톤수에서 25%, 금 등급에서 7% 증가했습니다. 이는 Silicon 매장지의 422만 온스 금 자원과는 별개로, Orogen은 1%의 순 제련 수익 로열티를 통해 약 1631만 온스의 금에 노출되어 있습니다.
주요 개발 사항으로는 2024년 Merlin 지역 내에서 132킬로미터의 드릴링이 완료되었으며, Merlin 동쪽의 탐사 드릴링에서 잠재적인 단층 오프셋 연장을 발견했습니다. 채굴 설계는 70% 증가하여 6.3 제곱킬로미터에 달했습니다. AngloGold는 자원 업그레이드를 지원하기 위해 2025년까지 드릴링을 계속할 계획이며, 2025년 하반기에는 사전 타당성 연구가 예상됩니다.
Orogen Royalties a annoncé une mise à jour significative de leur projet Expanded Silicon au Nevada, où le propriétaire du projet AngloGold Ashanti a rapporté une Ressource Indiquée mise à jour de 12,1 millions d'onces d'or au dépôt Merlin. Cela représente une augmentation de 34% des ressources en or, le dépôt contenant désormais 355 millions de tonnes avec une teneur de 1,06 g/t d'or.
La nouvelle ressource Merlin montre une augmentation de 25% des tonnes et une hausse de 7% de la teneur en or par rapport à l'annonce de février 2024. Cela est distinct de la ressource de 4,22 millions d'onces d'or au dépôt Silicon, donnant à Orogen une exposition à environ 16,31 millions d'onces d'or grâce à leur redevance de 1% sur le retour net de fusion.
Les développements clés comprennent l'achèvement de 132 kilomètres de forage dans la zone de Merlin en 2024, avec des forages d'exploration à l'est de Merlin rencontrant une éventuelle extension de décalage de faille. La conception de la fosse a augmenté de 70% en taille, atteignant 6,3 kilomètres carrés. AngloGold prévoit de continuer le forage jusqu'en 2025 pour soutenir les mises à jour des ressources, avec une étude de faisabilité prévue pour le second semestre 2025.
Orogen Royalties hat ein bedeutendes Update zu ihrem Expanded Silicon-Projekt in Nevada angekündigt, wo der Projektinhaber AngloGold Ashanti eine aktualisierte geschätzte Ressource von 12,1 Millionen Unzen Gold im Merlin-Vorkommen gemeldet hat. Dies stellt einen Anstieg der Goldressourcen um 34% dar, wobei das Vorkommen nun 355 Millionen Tonnen mit einem Gehalt von 1,06 g/t Gold enthält.
Die neue Merlin-Ressource zeigt einen Anstieg der Tonnen um 25% und eine Steigerung des Goldgehalts um 7% im Vergleich zur Ankündigung im Februar 2024. Dies ist unabhängig von der Ressource von 4,22 Millionen Unzen Gold im Silicon-Vorkommen, was Orogen eine Exposition von etwa 16,31 Millionen Unzen Gold durch ihre 1% Nettoverhüttungsgebühr gibt.
Wichtige Entwicklungen umfassen den Abschluss von 132 Kilometern Bohrungen im Merlin-Gebiet im Jahr 2024, wobei die Explorationsbohrungen östlich von Merlin potenzielle Verlagerungserweiterungen durch Verwerfungen aufzeigten. Das Grubendesign wurde um 70% auf 6,3 Quadratkilometer vergrößert. AngloGold plant, bis 2025 weiter zu bohren, um Ressourcenerhöhungen zu unterstützen, wobei im 2. Halbjahr 2025 eine Machbarkeitsstudie erwartet wird.
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Press Release Updated with Correct Images
VANCOUVER, BC / ACCESS Newswire / February 20, 2025 / (TSX.V:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce an update to the Expanded Silicon project in Nevada, USA. Project owner AngloGold Ashanti NA ("AngloGold") has announced an updated Inferred Resource of 12.1 million ounces gold at the Merlin deposit1. The new resource at Merlin is separate from the 4.22 million ounce gold resource at the Silicon deposit1, located approximately 270 metres to the northwest.
Orogen holds a
Table 1: Reported Mineral Resources at the Expanded Silicon Project1
Deposit | Category | Tonnes | Grade | Contained Gold |
Silicon | Indicated | 121 | 0.87 | 3.40 |
| Inferred | 36 | 0.70 | 0.81 |
Total Silicon1 |
| 158 | 0.83 | 4.22* |
Total Merlin2 | Inferred | 355 | 1.06 | 12.10 |
Total Expanded Silicon Project |
| 513 | 0.99 | 16.31* |
*Rounding of numbers may result in computational discrepancies in the Mineral Resource tabulations and are reported directly from AngloGold disclosure
1. The Silicon deposit mineral resource is based on a gold price of
2. The Merlin deposit mineral resource is based on a gold price of
Merlin Deposit Update Highlights
Pit constrained inferred resource at Merlin of 355 million tonnes grading 1.06 grams per tonne ("g/t") gold
Updated resource at Merlin represents a
25% increase in tonnes, a34% increase in gold ounces, and a7% increase in gold grade from the February 2024 announcementApproximately 132 kilometres of drilling completed within the Merlin area in 2024
Exploration drilling east of Merlin appears to have encountered the fault offset extension of mineralization with results pending
Drilling at Merlin will continue into 2025 to support resource upgrades and conversion at the Merlin deposit with a pre-feasibility study expected H2-2025
"We are very pleased to see another 3.05 million ounces of gold have been added by AngloGold to the Merlin Resource, representing a significant increase in size and grade", commented Paddy Nicol, Orogen's CEO. "High-grade zones and mineralized stratigraphic units were refined, thereby improving the resource model leading to an increase in the declared inferred resource. We note from AngloGold Ashanti's presentation that next steps include additional infill and expansion drilling, resource upgrades, and engineering studies to support a pre-feasibility study toward the end of the year."
About the Expanded Silicon Project
Orogen holds a 74 square-kilometre
Merlin Geology, Mineralization and Exploration Potential
The Merlin deposit is interpreted as a low sulphidation epithermal gold system developed in an extensional setting between two strike slip faults. Mineralization is hosted within a stack of rhyolitic ignimbrite sheets cut by multiple normal faults, a subset of which appear to control the emplacement of the mineralization. Mineralization occurs as high-gold grade epithermal veins and stockworks and a low to moderate gold grade broad disseminated zone within silica-adularia altered tuffs. The deposit is oxidized to depths exceeding five hundred metres (Figure 3). The new pit design also increased
The deposit remains open in multiple directions with drilling planned to define the limits of mineralization to the west of the current ore body and to better understand the mineralization and fault systems between Merlin and Silicon to the north (Figure 1). Additionally, the high-grade core at Merlin is offset by the Bare Mountain Fault to the southeast. A deeper drillhole completed towards the end of 2024 was positioned to test the hanging wall extension and encountered encouraging visual observations2. Assays from this hole are pending.
Drill hole collars in blue.
Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Laurence Pryer, Ph.D., P.Geo., Vice President of Exploration for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.
Certain technical disclosure in this release is a summary of previously released information and the Company is relying on the interpretation provided by the relevant company. Additional information can be found on the links in the footnotes or on SEDAR+ (www.sedarplus.ca).
About Orogen Royalties Inc.
Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The Company's royalty portfolio includes the Ermitaño gold and silver Mine in Sonora, Mexico (
On Behalf of the Board
OROGEN ROYALTIES INC.
Paddy Nicol
President & CEO
To find out more about Orogen, please contact Paddy Nicol, President & CEO at 604-248-8648, and Marco LoCascio, Vice President, Corporate Development at 604-248-8648. Visit our website at www.orogenroyalties.com.
Orogen Royalties Inc.
1015 - 789 West Pender Street
Vancouver, BC
Canada V6C 1H2
info@orogenroyalties.com
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
https://thevault.exchange/?get_group_doc=143/1739954271-YearEnd2024EarningsRelease.pdf
https://thevault.exchange/?get_group_doc=143/1739961968-YearEnd2024ExplorationReport.pdf
https://thevault.exchange/?get_group_doc=143/1739957070-YearEnd2024Presentation.pdf
SOURCE: Orogen Royalties Inc.
View the original press release on ACCESS Newswire
FAQ
What is the new gold resource estimate for OGNRF's Merlin deposit as of February 2025?
How much did the Merlin pit design expand in the 2025 update?
What is the total gold resource exposure for OGNRF at the Expanded Silicon project?
When is AngloGold expected to complete the pre-feasibility study for the Merlin deposit?
How much drilling was completed at the Merlin area in 2024?
