Royalty Summary
Orogen holds a 1 % NSR royalty of which half can be bought for US$1 million on the Cumaro project owned and operated by Heliostar Metals Inc https://www.heliostarmetals.com/projects/cumaro
Project Overview and History
The six square-kilometre Cumaro Property is located in Sonora Mexico, 45 kilometres from Las Chispas mine and 45 kilometres southeast of the Cananea copper mine. The project hosts a low to intermediate sulphidation epithermal system surrounded by the El Picacho district being actively explored by SilverCrest.
The geology of Cumaro consists of a western half comprising outcropping precious-metal bearing veins that project directly from the El Picacho claim and an eastern half which is interpreted to be downthrown relative to the western half, thus potentially preserving the mineralization at a shallow depth. The vein extensions on the Cumaro claim have received little exploration work and no known drilling.
Transaction Summary
In July 2020, Orogen’s predecessor Evrim Resources sold Cumaro to Helisostar maintaining a 1% NSR of which half can be purchased for US$1 million and the future rights to an 0.5% NSR on the Pichacho claims should Heliostar acquire them.
Recent Activities
In April 2021, Heliostar announced 390 g/t gold over 1 metre from channel sampling at Cumaro and commended a 5000-metre drill program in Dec 2021 on the newly discovered Verde target which returned up to 12.6 g/t over 5 metres. In Feb 2022, results were released from eleven holes with uneconomic grades. Results from subsequent drilling from additional targets on the property has not been publicly disclosed.
June 2020: https://orogenroyalties.com/news-releases/evrim-resources-creates-two-new-gold-royalties-in-mexico/