Orogen holds a 1% NSR royalty on the 60 square-kilometre Luna Roja project operated by Magna Terra: https://www.magnaterraminerals.com/luna-roja
Project Overview and History
Luna Roja is located in the Jurassic aged Deseado Massif in Santa Cruz Province, Patagonia, southern Argentina. The Deseado Massif contains a number of large precious metal mines including Cerro Vanguardia (AngloGold Ashanti), Manantial Espejo (Pan American Silver), San José (McEwen Mining), Cerro Negro (Newmont), and Cerro Moro (Pan American Silver).
The Luna Roja property hosts multiple low-sulfidation-style gold targets, the most significant of which is the Cruz del Sur zone. At Cruz del Sur, gold mineralization occurs within the 3-km-long Via Lactea fault, which over much of its length forms the contact between felsic tuffs and rhyolite domes. Widespread induced polarization chargeability anomalies are present. An initial round of eight drill-holes in 2019 encountered significant mineralization along the Via Lactea fault, with intercepts including 42 metres of 1.01 ppm gold in holeLR_DDH002. Mineralization remains open in several directions.
Transaction Overview and Summary
Orogen acquired the Luna Roja royalty as part of the merger with Renaissance Gold in 2020.
Jun 2019: https://feeds.issuerdirect.com/news-release.html?newsid=6708427276351799
Mar 2019: https://feeds.issuerdirect.com/news-release.html?newsid=6607413240255714
Jan 2019: https://feeds.issuerdirect.com/news-release.html?newsid=8667905431000868