Silicon

PROPERTY:
Silicon
Operator:
AngloGold Ashanti NA
Location:
Nevada, U.S.
AOI (km2):
79
Commodity:
Gold
Royalty:
1.0% NSR
Status:
Development
Silicon location map

Overview

  • Epithermal gold project owned by AngloGold Ashanti NA (“AngloGold”)
  • Over 80,000 metres of drilling completed
  • Maiden resource of 3.37 million ounces of oxide gold from the Central-Silicon zone as of December 31, 2021
  • Silicon prefeasibility studies planned in 2022 and 2023 are underway
  • Permitting and mine construction to come in future years
  • Ongoing exploration and infill drilling are planned to continue at the Central Silicon and Merlin areas

Project Update

  • Drilling to date comprised of 89 RC drill holes (36,076 metres) and 38 DD holes (18,880 metres) for a total of 127 drill holes and 54,893 metres. In addition to Mineral Resource definition drilling, detailed geological mapping at 1:5,000 scale was completed over a total of 58 square-kilometres.
  • Ground geophysics was carried out on the project including a total of 1,307 line kilometres of induced polarisation/resistivity, ground magnetics and gravity surveys.
  • Geochemical sampling comprising of outcrop rock chip sampling and a 2.6 x 2.3 kilometres soil survey was also carried out at various phases of the exploration program.
  • Other exploration targets are present within the Silicon claim block, including Merlin and Maverick; Merlin is a drilling-stage prospect that is currently showing significant potential and is planned to advance to conceptual study in 2022.
  • For H2 2022, multiple activities are planned to take place with work at North Bullfrog and commencement of a prefeasibility study at Silicon to convert Mineral Resource to Ore Reserve and further drilling at the Merlin deposit. The pre feasibility study is expected to be completed by early 2023.
  • A wildlife permit was received from the Silicon project area during Q1 2022 and project permitting for North Bullfrog is expected to commence in H2 2022.

History

On February 20, 2015, Orogen entered into a royalty agreement with Altius Minerals Corp. (“Altius”) whereby Orogen retained 100% ownership of the Silicon property, discovered through an alliance between Orogen and Altius pursuant to an October 22, 2013 alliance agreement, for a 1.5% NSR royalty payable to Altius. AngloGold entered into an agreement with Orogen 2017, whereby the project was optioned to AngloGold to acquire a 100%  interest in the project by paying Orogen a total payment of US$3.0 million by June 21, 2020. On June 3, 2020, AngloGold made the final payment of US$2.4 million to acquire 100%  interest in the Silicon project. Orogen retains of a 1.0% NSR on a defined area of interest on the Silicon project, marked on the map below: