Royalty Summary
Orogen holds a 1% NSR royalty and the right to earn an additional 0.5% NSR royalty for US$2 million on the approximately 288 square-kilometre Astro project owned and operated by Rackla Metals Inc.: https://racklametals.com/
Transaction Summary
Astro was created as a designated project in 2018 under a Region Exploration Alliance (“Alliance Agreement”) between Evrim Exploration Canada (Orogen’s Canadian subsidiary) and Newmont Canada FN Holdings ULC. In October 2022, Orogen sold the Astro project to Rackla Metals for total consideration of $408,000, a 1% NSR royalty and the right to earn an additional 0.5% NSR royalty subject to the Alliance Agreement.
Recent Exploration Activities
In 2023, Rackla completed a 2,041 metre, twelve-hole drill program on the Astro plutonic complex, a Cretaceous intrusion in the Tombstone Gold Belt. Ten drill holes focused on the Radio and Ultraviolet targets, outcropping skarns developed on the margin of the granodiorite within a 750 metre by 450 metre region of anomalous gold and arsenic talus fines. The best results include AST-004 (34.12 metres grading 0.26 g/t gold) and AST-007 (3.1 metres grading 3.47 g/t gold with over 4,100 ppm arsenic). The final two holes were drilled in the Lake Creek occurrence where Rackla has identified sheeted quartz veins and anomalous gold outcropping at surface but did not replicate the surface results. Rackla’s surface work also identified multiple other priority targets which will be the focus of 2024 exploration.
In 2024, a 4000 metre drill program was announced to test the Peak and Hit target on Rackla's larger Astro plutonic complex
March 2023: https://racklametals.com/
September 2022: https://orogenroyalties.
September 2022: https://racklametals.com/