Orogen Royalties Inc. is pleased to announce the acquisition by staking of the La Verdad epithermal gold-silver project in Durango, Mexico.
La Verdad Project Highlights
- Gold and silver-rich low-sulfidation epithermal system located in the Mexican Silver Belt
- Subparallel quartz veins occur in an area measuring over 2.5 kilometres along the strike
- Recent trench results include 3.1 grams per tonne (“g/t”) gold and 190 g/t silver over 2.3 metres and 2.59 g/t gold and 27.5 g/t silver over 1.2 metres
- La Verdad has geological similarities to Ermitaño where Orogen receives cash flow from a 2% NSR royalty
Figure 1: Location map
Laurence Pryer, VP of Exploration at Orogen commented, “La Verdad was identified by Orogen’s technical team using our proprietary regional databases. The property offers an excellent opportunity for discovery with several geological similarities to Ermitaño, which was identified by Orogen in 2015 (P&P reserves of 337 Koz gold and 4.9 Moz silver; Figure 41). La Verdad and other projects being generated by our technical teams illustrate Orogen’s commitment to organic royalty generation as a pathway to value creation.”
About La Verdad
The 264-hectare La Verdad project is in southeastern Durango, Mexico on the margin of the Sierra Madre Occidental within the Mexican Silver Belt (Figure 1).
The property contains a low-sulfidation epithermal system consisting of two principal subparallel quartz veins, Santa Rita and La Verdad, that occur along a strike length of over 2.5 kilometres. The veins are developed in folded Cretaceous limestones with rare siltstone interbeds.
Multiple stages of white, yellow and green quartz veins outcrop and display classic low sulfidation style textures. The Santa Rita and La Verdad veins may extend beneath shallow alluvium which covers over 40 percent of the potential vein strike. Orogen recently identified highly anomalous gold and silver in both the Santa Rita and La Verdad veins (Figure 2).
Less than one hundred metres of the vein strike was previously drill tested in 2013 (Figure 2). Undrilled dilational zones in the vein, with thicknesses of greater than 30 metres correlate with the highest gold and silver values from recent rock chip sampling (Figure 3). Drill targets are ready for testing and the project is currently available.
More details on the La Verdad property including a technical presentation and overview video can be found at https://www.orogenroyalties.com.
Figure 2: Gold in rocks at La Verdad
Figure 3: Dilational zone at the Santa Rita Vein (location shown on Figure 2)
Figure 4: Overview of the Ermitaño discovery as a comparison to La Verdad
Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Laurence Pryer, PhD, P.Geo., VP Exploration for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.
About Orogen Royalties Inc.
Orogen Royalties Inc. 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) being mined by First Majestic Silver Corp. and the Silicon gold project (1% NSR royalty) in Nevada, USA, being advanced by AngloGold Ashanti NA. The Company is well financed with several projects actively being explored under joint ventures.
On Behalf of the Board
OROGEN ROYALTIES INC.
President & CEO
Source: Press release by orogenroyalties.com