Si2

PROPERTY:
Si2
Operator:
K2 Gold
Location:
Nevada, U.S.
Commodity:
Gold
Terms:

2.0% NSR + cash payments and exploration expenditures

Si2 location map

Partner

K2 Gold Corporation https://k2gold.com/

Project Overview and History

The Si2 project covers the northeast four square-kilometres of a large steam heated alteration cell hosted by a rhyolite flow dome complex. Alteration is dominated by pervasive alunite and chalcedony replacement of breccias with mercury values up to 20 ppm. Breccias and altered domes define an annular zone cored by a large  recessive area mostly covered by shallow alluvium. Small, altered exposures in the central portion of the target include milled hydrothermal breccias with leached silica textures and cross-cutting chalcedonic silica veins. No drilling has targeted this area, or any of the steam heated alteration at the appropriate depth for gold mineralization.

Transaction Summary

On January 19, 2022, Orogen completed an agreement with K2 Gold Corporation (“K2”) to option the Si2 gold project. K2 can earn a 100% interest in the Si2 project by making cash payments totaling US$2.5 million, spending US$2.5 million in exploration expenditures over a five-year period, and granting to Orogen a 2.0% NSR royalty.

In January, 2023 K2 made the 1st anniversary payment and met the minimum cumulative work requirement.

Recent Exploration Activities

In 2022, K2 completed a geochemical and geophysical program on the Si2 project outlining a region of strong mercury anomalism coincident with surface alteration. Induced Polarization and ELF surveys define a number of prospective structural targets that will be the focus of a 2023 drill program. 

In 2023, K2 completed 1,777 metres, of core drilling on the Si2 project testing theorized structures beneath a barren steam cap at surface. Broad weakly anomalous gold intercepts (up to 185 metres) encountered in all four holes demonstrate the potential of the system with hole SD-23-001 ending in 3.2 metres of 0.52 g/t gold.

In 2024, K2 are planning a hyperspectral survey on drill core from their 2023 exploration program designed to vector into future drill targets.

June 2024: https://k2gold.com/k2-gold-provides-2024-exploration-program-updates/

August 2023: https://k2gold.com/news-media/news/k2-gold-drills-185.57m-of-anomalous-gold-in-new-epithermal-system-at-si2-project-nevada/

July 2023: https://k2gold.com/news-media/news/k2-gold-defines-intact-epithermal-system-at-si2-project/

November 2022: https://k2gold.com/news-media/news/k2-gold-defines-large-mercury-anomaly-at-si2-project-nevada-usa/

January 2022: https://orogenroyalties.com/news-releases/orogen-options-the-si2-gold-project-to-k2-gold/