Major gold discovery by AngloGold at the Expansion Silicon project, Nevada

Orogen Royalties Inc. has announced a significant update to the Expansion Silicon project in Nevada, USA, revealing an initial inferred resource of 9.05 million ounces of gold at the Merlin deposit, announced by project owner AngloGold Ashanti NA. This discovery adds to the previously announced resource of 4.22 million ounces at the Silicon deposit, bringing the total to approximately 13.27 million ounces of gold.

Orogen holds a 1% smelter return royalty for the project, which includes the Silicon and Merlin deposits. The Merlin deposit reveals inferred resources of 284 million tonnes grading 0.99 g/t gold. AngloGold plans a large-scale open-pit mining operation with an annual production potential exceeding 500,000 ounces over several years.

The project benefits from significant growth potential, with the Merlin deposit remaining open for exploration to the west and deeper mineralized horizons. AngloGold has commenced a pre-feasibility study, focused on mining, processing and infrastructure, which is expected to be completed within the next 18 to 24 months.

Orogen, expressing his enthusiasm, highlights the investment of more than US$73.9 million by AngloGold in the project in 2023, including 129,000 meters of drilling mainly focused on the Merlin deposit.