Project Overview and History

The Callaghan project is a Carlin-type gold target covering a window of lower plate carbonates and siltstones exposed within an anticline. Anomalous gold values and elevated arsenic, antimony and mercury occur within decalcified sandstone, siltstones and jasperoid breccias that occur as outcropping islands along a 7.5 kilometre strike length. Historic drilling intercepted shallow Carlin-style mineralization associated with high angle structures and along the contact between upper and lower Cambrian rocks with drill intercepts up to 1.6  grams per tonne gold over 10 metres. Similar targets exist immediately east and within the untested hinge of the anticline concealed under shallow pediment.

Royalty Summary

Orogen holds a 1.0% NSR on the Callaghan project. 0.25% of the 1.0% can be bought back prior to commercial production for US$500,000.

Transaction Summary

On August 11, 2021, Orogen announced two agreements with Meridian Gold Company (“Meridian”), a wholly owned subsidiary of Yamana Gold Inc., for the option of the Raven and Callaghan gold projects, and a three-year partner-funded generative exploration alliance in Nevada.

Under the terms of the Option Agreement, Meridian can earn up to a 100% interest in the Raven and Callaghan projects by making cash payments totaling US$300,000 and exploration expenditures of US$4.625 million over a five-year period.  Orogen will retain a 2.5% NSR royalty on the Raven Project and a 3.0% NSR royalty on the Callaghan project, with a buy-down right up to 1.5% on each NSR for up to US$10 million.

In July, 2022 Meridian made the first anniversary payment and met the minimum work requirement.

On January 31, 2023, Yamana announced it had received shareholder approval on a plan of arrangement involving the acquisition of all issued and outstanding common shares by Pan American Silver Corp. (PAAS) following the sale of its Canadian assets to Agnico Eagle Mines Limited.  

Subsequent to the acquisition of Yamana, Pan American Silver terminated the option agreement on Callaghan.

On September 24, 2024, Orogen completed the sale of Raven to Black Mammoth Metals: https://blackmammothmetals.com/

Recent Exploration Activities

In 2021 and 2022, Orogen completed a partner funded program of mapping and gravity. In 2023, a CSAMT survey and drill program will be funded by PAAS and operated by the Orogen technical team.

August 2021: https://www.orogenroyalties.com/news/orogen-signs-option-and-generative-alliance-agreements-with-yamana-gold