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 (3.4Moz of indicated and 800Koz inferred gold resources) and Merlin (9.05Moz gold resource inferred) deposits, where Orogen holds a 1% NSR royalty.
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 identifying the opportunity at Celts, Orogen has processed hyperspectral data covering the property, which helped to map alteration minerals and revealed previously unidentified vectors within the alteration cell. Additionally, the team executed a mapping program that identified an untested, north-south trending structural zone within a rhyolite dome that corresponds to the most intense portion of the alteration. Compiled historical data and Orogen’s own geochemical sampling highlight lower-elevation areas with epithermal veining and anomalous gold away from the central alteration cell, lending credence to the possibility of an untested gold zone at depth.
December 12, 2024: https://orogenroyalties.com/news-releases/orogen-royalties-sells-the-celts-gold-project-to-eminent-gold/
January 9, 2023: https://orogenroyalties.com/news-releases/orogen-acquires-new-epithermal-gold-silver-target-in-nevada/