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Orogen Royalties Provides Silicon Royalty Update
4.2 million ounces of gold at the Silicon deposit representing a 25% increase over 2022 estimate ...
About this update from Orogen Royalties Incorporation
[{"type":"text","content":"Orogen Royalties Provides Silicon Royalty Update4.2 million ounces of gold at the Silicon deposit representing a 25% increase over 2022 estimateVANCOUVER, BC / ACCESSWIRE / February 23, 2023 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. (\"Orogen\" or the \"Company\") is pleased to announce an update to the Silicon gold deposit at the Silicon project in Nevada. Project owner AngloGold Ashanti NA (\"AngloGold\") announced total resources of 4.2 million ounces gold, including indicated resources of 3.4 million ounces gold and inferred resources of 800,000 ounces gold.Orogen holds a 1% net smelter return (\"NSR\") royalty on 79 square kilometres of ground at the Silicon project that includes the Silicon deposit and Merlin area.HighlightsIndicated resources of 121.56 million tonnes grading 0.87 grams per tonne (\"g/t\") gold for 3.4 million ounces of contained gold, signaling a full conversion from inferred resources announced in 2022Additional inferred resources of 36.03 million tonnes grading 0.70 g/t gold for 0.8 million ounces of contained goldSilicon pre-feasibility study (\"PFS\") to integrate Merlin area for potentially larger scale mining activity and is expected to be completed in 2023Over US$50 million being spent in the Silicon camp in 2023, including twelve drill rigsPaddy Nicol, Orogen's CEO, commented: \"The announcement by AngloGold Ashanti represents another step forward in the development of the Silicon camp and adds value to our 1% NSR royalty. Resources at the Silicon deposit have increased in both confidence and size. The PFS will now incorporate drilling from the Merlin area, underscoring the scale and importance that Merlin could bring to the development of the Silicon project. We look forward to additional details during 2023.\"A full report and transcript are available on AngloGold Ashanti's website at: https://www.anglogoldashanti.com/investors/reporting/financial-results/Qualified Person StatementCertain technical disclosure in this release is a summary of previously released information and the Company is relying on the interpretation provided by AngloGold. Additional information can be found on the links in the footnotes to this news release.All new technical data, as disclosed in this press release, has been verified by Laurence Pryer, Ph.D., P.Geo., VP. Exploration for Orogen. Dr. Pryer is a qualified...