Royalty Summary
Orogen holds a 2% NSR royalty of which 1% can be purchased for US$1.75 million on the La Lola project owned and operated by Heliostar Metals Inc: https://www.heliostarmetals.com/projects/la-lola
Project Overview and History
La Lola is an approximately 6,300‐hectare land package in the Sierra Madre in northern Sonora, Mexico in a world-class epithermal vein district. The project covers the La Barra vein, a five-kilometre-long manganiferous calcite‐fluorite vein which displays elevated gold, silver, and mercury values in flexures at surface. The margins of the La Barra vein also display lattice‐bladed quartz after calcite. Widespread clay alteration and low temperature vein textures indicative of the higher levels of an epithermal vein system suggest only minor erosion. Potential exists for epithermal gold‐silver targets at depth, none of which have been tested by drilling.
Transaction Summary
In March 2019, Orogen entered into an agreement with a group of third parties (the “Optionor”) to purchase 100% of the La Lola property by making a total cash payment of US$100,000. The Optionor holds a 1.0% NSR royalty which can be repurchased by Heliostar for US$500,000.
In July 2020, Orogen’s predecessor Evrim Resources sold La Lola to Helisostar maintaining a 2% NSR of which half can be purchased for US$1.75 million. Heliostar assumed all future payments on the property.
Recent Activities
In late 2020 and early 2021 Heliostar completed a 4-hole drill program on the property with a highlight of 2.5 metres of 92 g/t silver from the first two holes. Results from hole 3 and 4 have never been publicly disclosed.
July 2020: https://orogenroyalties.com/news-releases/evrim-resources-creates-two-new-gold-royalties-in-mexico/