New Gold-Silver Discovery Announced on Orogen's Ermitaño Royalty Area of Interest

VANCOUVER, BC / ACCESSWIRE / July 31, 2024 / Orogen Royalties Inc. revealed a significant gold-silver discovery, named the Navidad vein system, on their Ermitaño Mine concessions in Sonora, Mexico. The company holds a 2% net smelter return (NSR) royalty in this area.

First Majestic Silver Corp., the mine operator, announced the discovery 500 meters southwest and 750 meters below the producing Ermitaño Mine. Notable drill holes included EW-24-364, grading 8.15 g/t gold and 427 g/t silver over 4.78 meters, and EW-24-368, with 54.93 g/t gold and 399 g/t silver over 1.82 meters.

The Navidad vein system showcases a strike continuity of 750 meters and a dip continuity of 250 meters. First Majestic has allocated four drill rigs to this new discovery, emphasizing its potential.

Paddy Nicol, Orogen's CEO, highlighted the potential to extend the life of the Ermitaño Mine. He also noted the discovery's significance alongside the previously found Luna zone, emphasizing the region's growth potential.