Celts

PROPERTY:
Celts
Operator:
Eminent Gold
Location:
Nevada, USA
AOI (km2):
5.6
Commodity:
Gold
Royalty:
1.5% NSR Royalty
Status:
Exploration
Celts location map

 

Royalty Summary

Orogen holds a 1.5% NSR royalty with a 0.5% buydown for US$0.75 million on the Celts project owned and operated by Eminent Gold Corp:  https://eminentgoldcorp.com/

Project Overview and History

The 560-hectare Celts project is located in southeastern Nevada, thirteen kilometres northeast of the historic high-sulphidation Goldfield district and one-hundred kilometres northwest of the Silicon discovery. Celts contains a cell of advanced argillic alteration that is recognized to be steam heated alteration within a low-sulphidation system. The steam cap remains undrilled.

The alteration cell at Celts is centered on a Tertiary rhyolite dome with an eight-hundred metre diameter zone of advanced argillic alteration composed of alunite and kaolinite interspersed with regions of fine-grained silica flooding. Celts could be one of the few epithermal systems in Nevada associated with slab window magmatism, like the Silicon (and Merlin deposits) at the Arthur Gold Project.

Similar to Silicon, there is no gold at surface in the steam cap, but peripheral gold, including grab samples up to 33 grams per tonne, occurs in quartz veins associated with illite and adularia at lower elevations one to two kilometres from the dome.  Taken together, the central steam cap and peripheral gold-bearing mineralized structures define a four-square kilometre mineral system.

Transaction Summary

In January 2023, Orogen announced the acquisition of the Celts Epithermal Gold project via staking.

In December 2024, Orogen sold 100% of its interest in the Celts gold project to Eminent Gold. Pursuant to the terms of a generative alliance agreement between Altius Minerals Corporation and Orogen as previously announced September 12, 2022, proceeds from the sale of Celts will be split evenly between the Alliance whereby each party will receive half of US$400,000 (consisting of US$30,000 and US$45,000 in common shares of Eminent at closing, and US$325,000 consisting of cash and/or shares, at the discretion of Eminent, within six months from the date of signing). and a 3% net smelter return (“NSR”) royalty of which 1% can be purchased for US$1.5 million.

Recent Exploration History

Since acquisition, Eminent have completed two IP lines across the steam-heated alteration cap at the Celts project. The IP displays a large offset, interpreted to be a normal fault beneath the zone of intense alteration. This structure will be the principal target of a late 2025 or early 2026 drill program.

March 2025: https://eminentgoldcorp.com/news-media/news-releases/eminent-confirms-structure-under-celts-steam-cap-analogous-to-silicon/

December 2024: https://orogenroyalties.com/news-releases/orogen-royalties-sells-the-celts-gold-project-to-eminent-gold/

January 2023: https://orogenroyalties.com/news-releases/orogen-acquires-new-epithermal-gold-silver-target-in-nevada/