Orogen Royalties Royalty Update
Orogen Royalties Inc. updated its royalty portfolio including key royalties in Mexico and Nevada. The Ermitaño deposit, owned by First Majestic Silver, is set to begin production soon, with stockpiled ore of 45,271 tonnes grading 4.0 g/t gold and 41 g/t silver. AngloGold Ashanti is advancing the Silicon and Merlin projects, with over 70,000 meters drilled and plans for a mineral resource announcement by year-end. Orogen holds a 2% NSR royalty on Ermitaño and a 1% NSR on Silicon, positioning it well in the precious metals royalty space.
- Ermitaño deposit production to begin soon, indicating future revenue stream.
- Stockpiled ore of 45,271 tonnes with high gold and silver grades enhances potential earnings.
- AngloGold's significant exploration at Silicon and Merlin suggests potential resource growth.
- Orogen holds strategic royalty interests in multiple promising projects, including those in the Beatty District.
- None.
VANCOUVER, BC / ACCESSWIRE / October 28, 2021 / (TSXV:OGN) (OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce an update for its royalty portfolio including the Ermitaño
The following disclosure is summarized from disclosure by the project owners and has not been independently verified by Orogen.
Ermitaño West Deposit
Project owner First Majestic Silver Corp. ("First Majestic") announced[1] that initial production at the Ermitaño deposit will begin in the coming months and represents a significant step-up in output at the Santa Elena processing facility. Development of the Ermitaño deposit and infrastructure have progressed well over 2021, with an initial 45,271 tonnes of ore grading 4.0 grams per tonne ("g/t") gold and 41 g/t silver (5,800 ounces gold and 59,640 ounces silver) stockpiled on surface. First Majestic intends to stockpile up to 60,000 tonnes of ore by the end of 2021.
Road construction connecting the Ermitaño West deposit to the processing plant is now
Current resources at Ermitaño West reported by First Majestic include the following[3]:
Resource Category | Tonnes (K) | Gold grade (g/t) | Silver grade (g/t) | Gold (K ounces) | Silver (M ounces) |
| Indicated | 2,452 | 4.25 | 64 | 335 | 36.1 |
| Inferred | 6,022 | 2.69 | 57 | 522 | 59.5 |
Orogen's
Figure 1 - Orogen's Ermitaño royalty interest (tan-coloured claims) in Sonora, Mexico
Figure 2 - Ermitaño east and west portals. (source: https://www.firstmajestic.com/projects/exploration-development/ermitano/ )
Silicon and Merlin Projects
Project owner AngloGold Ashanti N.A. ("AngloGold") has taken several significant and positive steps at the Silicon and Merlin projects and within the greater Beatty District over 2021. AngloGold began the year following up on approximately 28,000 metres of drilling completed at Silicon and Merlin and now are in excess of 70,000 metres in the area[4]. According to AngloGold, exploration results "indicate the potential for significant oxide orebodies at Silicon and Merlin, as well as additional sulphide potential at Silicon at depth." AngloGold announced plans to publish a mineral resource at Silicon and Merlin for the year ending December 31, 2021, with additional drilling and exploration ongoing.
AngloGold also recently announced it entered into an agreement with Corvus Gold Inc. ("Corvus") to acquire all the securities of Corvus for a total equity value of US
Orogen's
Figure 3 - Claim map of Orogen's Silicon royalty interest (red box) in the Bare Mountain area of Nevada
Other Royalties
Orogen holds royalty interests in nine other exploration properties in Canada, United States and Mexico. In particular, Orogen holds a
In Mexico, Orogen holds a
- 10.3 g/t gold and 168 g/t silver over 5.0 metres
- 11.5 g/t gold and 125 g/t silver over 1.75 metres
- 8.35 g/t gold and 92 g/t silver over 2.1 metres
- 4.68 g/t gold and 61 g/t silver over 3.0 metres;
- 11.9 g/t gold and 130 g/t silver over 1.65 metres; and
- 2.65 g/t gold and 105 g/t silver over 5.9 metres;
Heliostar plans to drill up to 3,000 metres at Cumaro upon the completion of their recently announced private placement[7].
Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Laurence Pryer, Ph.D., P.Geo., Exploration Manager for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.
Orogen relies on technical information and certain forward-looking statements that have been publicly disclosed by other mining and exploration companies. Additional information can be found at www.sedar.com, www.sec.gov, and on respective company websites.
About Orogen Royalties Inc.
Orogen Royalties Inc. 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 West gold deposit 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.
1201 - 510 West Hastings Street
Vancouver, BC
Canada V6B 1L8
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.
Forward-looking information relates to statements concerning the Company's future outlook and anticipated events or results, as well as the Company's management expectations with respect to the proposed business combination (the "Transaction"). This document also contains forward-looking statements regarding the anticipated completion of the Transaction and timing thereof. Forward-looking statements in this document are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the receipt, in a timely manner, of regulatory and stock exchange approvals in respect of the Transaction.
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. Furthermore, the extent to which COVID-19 may impact the Company's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on the Company's financial position and results of operations for future periods.
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.
[1] First Majestic Silver Corp. October 12, 2021. https://www.firstmajestic.com/investors/news-releases/first-majestic-produces-a-record-73m-silver-eqv-oz-in-the-third-quarter-consisting-of-33m-oz-silver-and-54525-oz-gold-suspended-silver-sales-and-held-14m-oz-of-silver-in-inventory-at-quarter-end
[2] Denver Gold Forum September 14, 2021. https://www.youtube.com/watch?v=_jEuO7TrrDE
[3] First Majestic Silver Corp. Santa Elena NI 43-101 Technical Report. March 17, 2021. https://www.firstmajestic.com/_resources/reports/Santa-Elena-Technical-Report-Final-2021-03-17.pdf
[4] AngloGold Ashanti N.A. September 13, 2021. https://www.anglogoldashanti.com/investors/media/news-releases/
[5] Kodiak Copper Corp. October 18, 2021. https://kodiakcoppercorp.com/news/news-releases/kodiak-drills-105-m-of-0.76-cueq-within-504-m-of-0.47-cueq-at-gate-zone-begins-drilling-dillard-copper-porphyry-target/
[6] Heliostar Metals Ltd.. September 28, 2021. https://www.heliostarmetals.com/news-articles/heliostar-hits-multiple-channels-up-to-12-6-gt-gold-equivalent-over-5-0-metres-defines-significant-drill-target-at-cumaro-mexico
[7] Heliostar Metals Corp. October 19, 2021. https://www.heliostarmetals.com/news-articles/heliostar-announces-closing-of-first-tranche-of-4-million-non-brokered-private-placement
SOURCE: Orogen Royalties Inc.
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FAQ
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