Orogen Royalties Sells the Celts Gold Project to Eminent Gold
Orogen Royalties (TSXV:OGN)(OTCQX:OGNRF) has signed an agreement to sell its Celts gold project in Nevada to Eminent Gold. The deal includes a total payment of US$400,000 in cash and/or shares, plus a 3% NSR royalty, of which 1% can be purchased for US$1.5 million. Under a previous alliance agreement with Altius Minerals, the proceeds will be split evenly, with each party receiving US$200,000 and a 1.5% NSR royalty.
The 560-hectare Celts project, located 13km northeast of the Goldfield district, features an 800-meter diameter zone of advanced argillic alteration. The project shows geological similarities to the Silicon deposit, where Orogen holds a 1% NSR royalty. While there's no gold at surface in the steam cap, peripheral gold samples up to 33 grams per tonne have been found in quartz veins.
Orogen Royalties (TSXV:OGN)(OTCQX:OGNRF) ha firmato un accordo per vendere il suo progetto aurifero Celts in Nevada a Eminent Gold. L'accordo prevede un pagamento totale di 400.000 US$ in contanti e/o azioni, più una royalty NSR del 3%, di cui l'1% può essere acquistato per 1,5 milioni di US$. Sotto un precedente accordo di alleanza con Altius Minerals, i proventi saranno suddivisi equamente, con ciascuna parte che riceve 200.000 US$ e una royalty NSR dell'1,5%.
Il progetto Celts, che si estende su 560 ettari e si trova a 13 km a nord-est del distretto di Goldfield, presenta una zona di alterazione argillica avanzata con un diametro di 800 metri. Il progetto mostra somiglianze geologiche con il deposito di Silicon, dove Orogen detiene una royalty NSR dell'1%. Sebbene non ci sia oro in superficie nel cappuccio di vapore, sono stati trovati campioni d'oro periferici fino a 33 grammi per tonnellata in vene di quarzo.
Orogen Royalties (TSXV:OGN)(OTCQX:OGNRF) ha firmado un acuerdo para vender su proyecto de oro Celts en Nevada a Eminent Gold. El acuerdo incluye un pago total de 400,000 US$ en efectivo y/o acciones, más una regalía NSR del 3%, de la cual el 1% se puede comprar por 1.5 millones de US$. Según un acuerdo de alianza previo con Altius Minerals, los ingresos se dividirán equitativamente, con cada parte recibiendo 200,000 US$ y una regalía NSR del 1.5%.
El proyecto Celts, que abarca 560 hectáreas y se encuentra a 13 km al noreste del distrito de Goldfield, presenta una zona de alteración argilosa avanzada de 800 metros de diámetro. El proyecto muestra similitudes geológicas con el depósito de Silicon, donde Orogen tiene una regalía NSR del 1%. Aunque no hay oro en la superficie en la tapa de vapor, se han encontrado muestras de oro periféricas de hasta 33 gramos por tonelada en venas de cuarzo.
Orogen Royalties (TSXV:OGN)(OTCQX:OGNRF)는 네바다에 있는 셀트 골드 프로젝트를 Eminent Gold에 매각하는 계약을 체결했습니다. 이 거래에는 400,000달러의 현금 및/또는 주식과 함께 3%의 NSR 로열티가 포함되어 있으며, 그 중 1%은 150만 달러에 구매할 수 있습니다. 알티우스 미네랄스와의 이전 협력 계약에 따라 수익은 균등하게 나누어지며, 각 당사자는 200,000달러와 1.5%의 NSR 로열티를 받게 됩니다.
560 헥타르 규모의 셀트 프로젝트는 골드필드 지역의 북동쪽으로 13km 떨어진 곳에 위치하며, 800미터 지름의 고급 점토 변형 지역이 있습니다. 이 프로젝트는 오로겐이 1%의 NSR 로열티를 보유하고 있는 실리콘 광재와 지질학적 유사성을 보입니다. 스팀 캡의 표면에는 금이 없지만, 석영 vein에서 톤당 최대 33그램의 주변 금 샘플이 발견되었습니다.
Orogen Royalties (TSXV:OGN)(OTCQX:OGNRF) a signé un accord pour vendre son projet d'or Celts au Nevada à Eminent Gold. L'accord prévoit un paiement total de 400 000 US$ en espèces et/ou en actions, plus une redevance NSR de 3%, dont 1% peut être acheté pour 1,5 million US$. En vertu d'un précédent accord d'alliance avec Altius Minerals, les recettes seront réparties également, chaque partie recevant 200 000 US$ et une redevance NSR de 1,5%.
Le projet Celts, d'une superficie de 560 hectares et situé à 13 km au nord-est du district de Goldfield, présente une zone d'altération argileuse avancée d'un diamètre de 800 mètres. Le projet présente des similitudes géologiques avec le gisement de Silicon, où Orogen détient une redevance NSR de 1%. Bien qu'il n'y ait pas d'or à la surface dans le cap de vapeur, des échantillons périphériques d'or allant jusqu'à 33 grammes par tonne ont été trouvés dans des veines de quartz.
Orogen Royalties (TSXV:OGN)(OTCQX:OGNRF) hat eine Vereinbarung unterzeichnet, um sein Celts-Goldprojekt in Nevada an Eminent Gold zu verkaufen. Der Deal umfasst eine Gesamtzahlung von 400.000 US$ in bar und/oder Aktien, plus eine 3% NSR-Royalty, von der 1% für 1,5 Millionen US$ gekauft werden kann. Aufgrund einer vorherigen Allianzvereinbarung mit Altius Minerals werden die Einnahmen gleichmäßig aufgeteilt, wobei jede Partei 200.000 US$ und eine 1,5% NSR-Royalty erhält.
Das 560 Hektar große Celts-Projekt, das sich 13 km nordöstlich des Goldfield-Distrikts befindet, weist eine 800 Meter Durchmesser große Zone fortgeschrittener argilischer Alteration auf. Das Projekt zeigt geologische Ähnlichkeiten mit dem Silicon-Vorkommen, bei dem Orogen eine 1% NSR-Royalty hält. Obwohl es an der Oberfläche im Dampfkappenbereich kein Gold gibt, wurden periphere Goldproben von bis zu 33 Gramm pro Tonne in Quarzvene gefunden.
- Immediate cash/share payment of US$75,000 with additional US$325,000 within six months
- Retention of 3% NSR royalty on the Celts project
- Strategic partnership maintaining exposure to potential discovery upside with no operational costs
- Divestment of 100% ownership interest in the Celts project
- Required to split proceeds 50/50 with Altius Minerals
VANCOUVER, BC / ACCESSWIRE / December 12, 2024 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that the Company has signed a purchase and sale agreement (the "Agreement") with a wholly-owned U.S. subsidiary of Eminent Gold ("Eminent") (TSX.V: EMNT) whereby Eminent has acquired the Celts gold project ("Celts" or the "Project"), located in Nevada, USA.
To acquire a
Pursuant to the terms of a generative alliance (the "Alliance") agreement between Altius Minerals Corporation (TSX:ALS) ("Altius") and Orogen previously announced September 12, 20221, proceeds from the sale of the Project will be split evenly between the Alliance participants whereby each party will receive US
"Celts is one of four projects generated and the second sold to date under the Alliance with Altius, a collaboration of technical expertise to identify targets with geological similarities to the Expanded Silicon project in the Walker Lane Trend, Nevada," commented Orogen's CEO and President, Paddy Nicol. "Celts is representative of Orogen's business model of organic royalty generation, creating exposure to new discoveries with significant leverage to value potential. We are excited to partner with the Eminent team and look forward to their exploration efforts."
Figure 1: Location of the Celts project
About the Celts Gold Project
The 560-hectare Celts project is located in southeastern Nevada, thirteen kilometres northeast of the historic high-sulphidation Goldfield district and one-hundred kilometres northwest of the Silicon discovery (Figure 1). Celts contains a cell of advanced argillic alteration that is recognized to be steam heated alteration within a low-sulphidation system. The steam cap remains undrilled.
The alteration cell at Celts is centered on a Tertiary rhyolite dome with an eight-hundred metre diameter zone of alteration composed of alunite and kaolinite interspersed with regions of fine-grained silica flooding (Figure 2). Celts could be one of the few epithermal systems in Nevada associated with slab window magmatism, like the Silicon (3.4Moz of indicated and 800Koz inferred gold resources) and Merlin (9.05Moz gold resource inferred) deposits, where Orogen holds a
Similar to the Silicon deposit, there is no gold at surface in the steam cap, but peripheral gold, including grab samples up to 33 grams per tonne, occurs in quartz veins associated with illite and adularia at lower elevations one to two kilometres from the dome (Figure 2). Taken together, the central steam cap and peripheral gold-bearing mineralized structures define a four-square kilometre mineral system.
The property is on road-accessible BLM land with a clear and unencumbered pathway to drill testing.
Transaction Details
Orogen, Altius and Eminent have signed an Agreement whereby Eminent has acquired a
The issuance of Eminent shares is subject to regulatory approval of the TSX Venture Exchange.
Figure 2: Simplified Geology, Alteration and Gold Geochemistry at Celts
Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Laurence Pryer, Ph.D., P.Geo. VP Exploration for the Company. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.
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 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. 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.
SOURCE: Orogen Royalties Inc
View the original press release on accesswire.com
FAQ
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