Orogen Acquires Three Royalties in Africa and Creates One Royalty in Mexico

Orogen Acquires Three Royalties in Africa and Creates One Royalty in Mexico

TSX.V:OGN) (OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce it has signed an agreement (the "Agreement") with Advance Lithium Corp. ("Advance") to purchase 3% net smelter royalties on three prospective mineral licenses (the "Royalties") in the Lake Victoria Gold Fields ("LVG") in western Kenya

Upon closing of the Agreement, Orogen will pay Advance US$120,000 for the Royalties and transfer its interest in the Sarape Gold project to Advance. Orogen will retain a 1.5% net smelter return royalty on the Sarape project.

"Identifying royalties on high-quality early-stage exploration opportunities forms part of Orogen's strategy of royalty creation and acquisition," commented Paddy Nicol. "Using the Sarape project in the transaction is a creative solution that demonstrates the ability of Orogen's hybrid prospect generation and royalty business model. Advance Lithium, a Mexican based lithium and gold explorer, is seeking exposure to the highly prospective Rio Sonora Valley, that hosts the Santa Elena/Ermitaño Mine, the Mercedes Mine and the Las Chispas deposit as well as Sarape."

About the Western Kenya Royalties

Upon closing of the Agreement, Orogen will hold a 3% net smelter royalty on the Rosterman, Sigalagala, and Bukura licenses located in the Liranda Corridor, a structural zone within the northern-most greenstone belt in the LVG. The licenses collectively cover approximately 19.75 square kilometres of ground within a larger land package known as the West Kenya Project held by Shanta Gold Limited ("Shanta Gold"). Shanta Gold is an AIM-listed gold producer with operations in Tanzania and western Kenya. The three royalties were created in February 2022 from a joint venture between Shanta Gold and Gold Rim Exploration Kenya, a wholly owned subsidiary of Advance.

Two licenses (Sigalagala and Bukura) are located approximately four kilometres east and two kilometres northwest of the Isulu and Bushiangala deposits, respectively, that are currently being advanced by Shanta Gold (see figure 1). Indicated resources of 378,000 ounces gold grading 11.70 grams per tonne ("g/t") and inferred resources of 739,000 ounces gold grading 10.80 g/t gold at Isulu and Bushiangala were announced in March 20221. Shanta Gold plans to initiate a feasibility study on the deposits over the duration of 2022. Bukura and Sigalagala cover the extensions of the shear zone that forms the structural setting for Isulu and Bushiangala.

Previous exploration on the Sigalagala and Bukura licenses includes soil geochemistry, geophysics and several air-core, reverse circulation, and diamond drilling campaigns. Highlight drill holes from the Sigalagala license include LCD0013 grading 8.74 g/t gold over three metres from 62 metres, and LCD0036 grading 4.94 g/t gold over 1.2 metres from 221.9 metres. At Bukura, drillhole LCD0043 grades 7.10 g/t over one metre.

The Rosterman license lies approximately eight kilometres north of the Isulu and Bushiangala deposits and contains the historical Rosterman Mine where approximately 250,000 ounces of gold grading 12.3 g/t were produced from shallow dipping quartz veins hosted within diorite. An interpreted splay fault travels northeast from the mine and coincides with a coherent gold soil anomaly extending over 1.8 kilometres. The extensive and strong soil geochemistry appears to be related to the historical Rosterman Mine and defines an attractive drill target.

Orogen Royalties Inc, Thursday, June 9, 2022, Press release picture

Figure 1 - Claim locations of Bukrua, Sigalgala, and Rosterman licenses in the Liranda Corridor.

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.

Certain technical disclosure in this release is a summary of previously released third-party information and the Company is relying on the interpretation provided. Additional information can be found on the links in the footnotes.

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 deposit in Sonora, Mexico (2% NSR royalty) operated by First Majestic Silver Corp. and the Silicon gold project (1% NSR royalty) in Nevada, U.S., being advanced by AngloGold Ashanti. The Company is well financed with several projects actively being developed by joint venture partners.

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 of 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

  1. Shanta Gold - https://shantagold.com/_resources/MRE%20Update%20v2%20without%20Ramula%20Pit%20Shell.pdf

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 source version on accesswire.com:
https://www.accesswire.com/704471/Orogen-Acquires-Three-Royalties-in-Africa-and-Creates-One-Royalty-in-Mexico

News Provided by ACCESSWIRE via QuoteMedia

OGN:CA
The Conversation (0)
Orogen Royalties Announces First Quarter 2022 Results and Provides Royalty Update

Orogen Royalties Announces First Quarter 2022 Results and Provides Royalty Update

TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to report operating and financial results for the first quarter ended March 31, 2022 ("Q1-2022") and recent updates from key royalty assets

Paddy Nicol, CEO of Orogen, commented: "Our first full quarter of royalty revenue from Ermitaño and strong results from our prospect generation business have seen Orogen generate a profit for the first quarter of 2022. These results underline the financial stability the company has achieved, maximizing our shareholders' participation in the exciting developments in the Company's royalty and prospect generation portfolio."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Orogen Appoints Mr. Justin Quigley as Board Chair

Orogen Appoints Mr. Justin Quigley as Board Chair

TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that Orogen's board of directors has elected independent board member Mr. Justin Quigley as chairman. Mr. Quigley joined in Orogen's board in August 2021 and has taken a key role at the board level to support the Company's corporate strategy

"Orogen has strategically positioned itself as a cash-flowing royalty company with two key royalty assets created from the Company's generative exploration business," said Orogen Chairman Justin Quigley. "The Ermitaño deposit is now in production providing Orogen royalty revenue and the positive advancements at the Silicon project has potential to grow the value of Orogen's royalty on the project. These are quality royalties at the forefront of their value cycle, located in premier mining jurisdictions, and operated by capable mining companies. Our cornerstone assets, taken together with the potential of our early-stage royalty portfolio and 14 optioned exploration projects, positions Orogen to deliver exceptional value for shareholders."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
AngloGold Announces 3.37 Million Ounce Gold Resource on Orogen's Silicon Royalty Interest

AngloGold Announces 3.37 Million Ounce Gold Resource on Orogen's Silicon Royalty Interest

TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that project owner AngloGold Ashanti NA ("AngloGold") has announced a maiden 3.37 million ounce inferred gold resource at the Central-Silicon zone on the Silicon gold project in Nevada, USA. Orogen holds an uncapped and non-buyable 1% net smelter return ("NSR") royalty on the 58 square kilometre Silicon project

Highlights from AngloGold's Annual Report are as follows1:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Orogen Receives First Royalty Payment from the Ermitaño Deposit

Orogen Receives First Royalty Payment from the Ermitaño Deposit

Ongoing exploration indicates new discovery east of Ermitaño

TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that it has received its first quarterly royalty payment of approximately US$480,000 from initial production at the Ermitaño deposit in Sonora, Mexico. Orogen organically generated a 2% net smelter return ("NSR") royalty on the sale of the Ermitaño project to First Majestic Silver Corp. ("First Majestic

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Orogen Sells Onjo to Pacific Ridge for Cash, Shares and a Royalty

Orogen Sells Onjo to Pacific Ridge for Cash, Shares and a Royalty

TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce that it has signed a purchase and sale agreement (the "Agreement") with Pacific Ridge Exploration Ltd. (PEX) ("Pacific Ridge") to sell the Onjo copper-gold porphyry project ("Onjo" or the "Project") located in north central British Columbia

Upon regulatory approval of the TSX Venture Exchange, Orogen will receive $50,000 cash, and 750,000 common shares of Pacific Ridge, and a 2.0% net smelter return ("NSR") royalty, of which 0.5% can be purchased for US$1.5 million.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Grande Portage Announces Non-Brokered Private Placement Pursuant to the Listed Issuer Financing Exemption

Grande Portage Announces Non-Brokered Private Placement Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce a non-brokered private placement of up to 10,000,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of up to C$3,000,000 (the "Offering"). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Exemption") to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the "Offering Document") related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com. Prospective investors should read the Offering Document before making an investment decision

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Element79 Gold Corp to Update Investors on the Emerging Growth Conference on October 31, 2024

Element79 Gold Corp to Update Investors on the Emerging Growth Conference on October 31, 2024

(TheNewswire)

Element79 Gold Corp.

Element79 Gold Corp invites individual and institutional investors as well as advisors and analysts, to attend its real-time, interactive presentation on the Emerging Growth Conference.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Presenting on the Emerging Growth Conference 76 Day 1 on October 30 Register Now

Presenting on the Emerging Growth Conference 76 Day 1 on October 30 Register Now

EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 76 th Emerging Growth Conference on October 30 & 31, 2024.

The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Pinnacle Signs Letter of Intent for Option to Acquire High-Grade Gold-Silver Project in Sierra Madre Trend of Mexico.

Pinnacle Signs Letter of Intent for Option to Acquire High-Grade Gold-Silver Project in Sierra Madre Trend of Mexico.

(TheNewswire)

Pinnacle Silver and Gold Corp.

Highlights:

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Pinnacle Signs Letter of Intent for Option to Acquire High-Grade Gold-Silver Project in Sierra Madre Trend of Mexico

Pinnacle Signs Letter of Intent for Option to Acquire High-Grade Gold-Silver Project in Sierra Madre Trend of Mexico

(TheNewswire)

Pinnacle Silver and Gold Corp.

Highlights:

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Zodiac Gold Completes Drill Program at the Alasala Target and Hits Mineralized Zones including 4.05m at 13.92 g/t

Zodiac Gold Completes Drill Program at the Alasala Target and Hits Mineralized Zones including 4.05m at 13.92 g/t

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to report the results from its diamond drilling program at the Alasala target, including 4.05m at 13.92 gt (including 1.6m at 34.5 gt Au), 7m at 2.23 gt Au (including 1m at 12.65 gt Au) and 4.25m at 0.99 gt Au (including 0.7m at 5.25 gt Au). In addition, channel sampling in the Lion Hill artisanal mining pit during this drill program by Zodiac Gold's geological team returned 6.05m at 9.06 gt Au (including 1m at 46 gt Au and 1m at 7.6 gt Au). The results of drilling confirm that the high grades reported from surface exploration and previous drilling in the oxide zone have strong continuity at depth, with 4.05m at 13.92 gt Au intersected 75m below surface. These zones are believed to be open at depth.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×