3.0% NSR royalty + cash payments and exploration expenditures
Partner
I-80 Gold Corp. https://www.i80gold.com/
Project Overview and History
Tabor is located in Esmeralda County, Nevada and is a 5-kilometre-long volcanic hosted steam heated alteration cell which represents the uppermost expression of a prospective low-sulfidation epithermal system. Historic mercury mineralization occurs as fumarolic cinnabar and native sulfur veins associated with widespread, structurally controlled zones of alunite. Powdery leached silica occurs along structural zones overlying a large gently northeast dipping chalcedonic blanket. Elevated gold, arsenic and antimony occurs in the deepest incised canyons in the middle of the project associated with crystalline, locally platy quartz after calcite, supporting the low-sulfidation epithermal model, and potential for precious metal mineralization at moderate depths.
Transaction Summary
On October 8, 2020,Orogen announced it had optioned the Tabor gold property to Au-Reka Gold Corporation, a subsidiary of i-80 Gold Corp. (“i-80”) (formerly Premier Gold Mines U.S.A.) I-80 can earn up to a 100% interest in the Tabor gold project by making cash payments totaling US$1.0 million and spending US$10 million in exploration expenditures over an eight-year period. Once Premier has obtained a 100% interest, Orogen will retain a 3.0% NSR royalty on the Tabor claims and a 1.0% NSR royalty on the Mustang claims.