Orogen Royalties’ Expanded Silicon Project Sees Significant Gold Discovery by AngloGold
Orogen Royalties Inc. (TSX.V:OGN, OTCQX:OGNRF), a mineral exploration company, is thrilled to share the latest developments at its Expanded Silicon project in Nevada, USA. The project’s owner, AngloGold Ashanti NA (“AngloGold”), has recently announced an updated Inferred Resource of 12.1 million ounces gold at the Merlin deposit.
Detailed Discovery at the Merlin Deposit
The Merlin deposit, part of the Expanded Silicon project, is located within the Jerritt Canyon Gold Mine complex, approximately 150 miles east of Reno, Nevada. AngloGold’s update includes an increase in the Inferred Resource estimate for the Merlin deposit, which was previously reported as 8.5 million ounces gold. This significant expansion highlights the potential for further exploration and development opportunities at the site.
Impact on Orogen Royalties
The updated resource estimate at the Merlin deposit is a positive sign for Orogen Royalties, as the Company holds a 2% net smelter return royalty on the Expanded Silicon project. This increase in gold resources could potentially lead to increased revenue for Orogen as AngloGold progresses with the development of the deposit.
- Higher potential for royalty revenue: With the expanded gold resources, AngloGold may consider expanding mining operations, leading to increased royalty revenue for Orogen.
- Potential for further exploration: The updated resource estimate may encourage AngloGold to explore other areas within the Expanded Silicon project, potentially leading to new discoveries and further royalty opportunities for Orogen.
Global Impact
Beyond the local impact on Orogen Royalties, the expanded gold resources at the Merlin deposit could have a broader effect on the global gold market. Nevada is the largest gold-producing state in the United States, and this discovery could contribute to the continued growth of the Nevada gold industry.
- Increased gold production: The expansion of the Merlin deposit could lead to increased gold production from Nevada, contributing to the global gold supply.
- Economic benefits: The expansion could bring economic benefits to the local community in Nevada and the United States, including job creation and increased tax revenues.
Conclusion
Orogen Royalties’ partnership with AngloGold Ashanti at the Expanded Silicon project in Nevada has resulted in a significant expansion of the Inferred Resource at the Merlin deposit. This update could potentially lead to increased royalty revenue for Orogen and contribute to the ongoing growth of the Nevada gold industry. As the exploration and development of the Merlin deposit progresses, Orogen remains committed to maximizing the value of its royalty interests and delivering value to its shareholders.
For more information about Orogen Royalties, please visit the Company’s website at www.orogenroyalties.com.
