Orogen Royalties Inc.: Significant Expansion of Mineral Resources at Ermitaño Gold Mine
Vancouver, BC – Orogen Royalties Inc. (TSX.V:OGN)(OTCQX:OGNRF) is thrilled to bring you an update on the mineral reserve and resource estimates for the Ermitaño gold mine, located in Sonora, Mexico. The mine is operated by First Majestic Silver Corp. (First Majestic).
Expanded Mineral Resources at Ermitaño
The latest resource and reserve update for the Navidad vein system within the Ermitaño mine is a promising development for Orogen. The Inferred resources now stand at 2.3 million tonnes, comprised of:
- 5.9 million ounces of silver (181.2 million grams) at an average grade of 81 g/t;
- 249,000 ounces of gold (7.8 million grams) at an average grade of 3.42 g/t.
Impact on Orogen Royalties
This substantial expansion in mineral resources at the Ermitaño mine is a positive sign for Orogen shareholders. The Company’s 2% net smelter return (NSR) royalty on the 167 square-kilometre Ermitaño concession translates to potential future revenue from the increased production. As First Majestic proceeds with mining and processing these additional resources, Orogen could see a corresponding increase in royalty payments.
Global Implications
The mining industry, particularly the precious metals sector, stands to benefit from this resource update as it signifies continued growth potential. This development in Sonora, Mexico, adds to the ongoing momentum in the mining sector, which has seen increased investor interest and optimism.
Conclusion
Orogen Royalties Inc.’s updated mineral resource and reserve estimates at the Ermitaño gold mine bring promising news for the Company and its shareholders. With a significant expansion in resources, Orogen is well-positioned to benefit from future royalty payments as First Majestic proceeds with mining and processing these new deposits. This development also underscores the broader growth potential within the mining sector, providing a positive outlook for investors and industry stakeholders alike.
As we move forward, we will continue to monitor updates from Orogen Royalties and the mining sector as a whole. Stay tuned for more insights and analysis on the latest developments in the world of mining and precious metals.
