Orogen Sells Onjo to Pacific Ridge for Cash, Shares and a Royalty

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[{"type":"text","content":"Orogen Sells Onjo to Pacific Ridge for Cash, Shares and a RoyaltyVANCOUVER, BC / ACCESSWIRE / February 3, 2022 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. (\"Orogen\" or the \"Company\") is pleased to announce that it has signed a purchase and sale agreement (the \"Agreement\") with Pacific Ridge Exploration Ltd. (PEX) (\"Pacific Ridge\") to sell the Onjo copper-gold porphyry project (\"Onjo\" or the \"Project\") located in north central British Columbia.Upon regulatory approval of the TSX Venture Exchange, Orogen will receive $50,000 cash, and 750,000 common shares of Pacific Ridge, and a 2.0% net smelter return (\"NSR\") royalty, of which 0.5% can be purchased for US$1.5 million.\"Onjo was generated and staked in 2021 using a new exploration model in British Columbia for vectoring into copper-gold mineralization from the tops of alkalic porphyry copper-gold systems. This is another transaction that demonstrates the Company's ability to successfully create and grow its royalty portfolio by leveraging its technical expertise to develop and bring to market compelling exploration opportunities,\" commented Paddy Nicol, President and CEO of the Company. \"The Project is within ten kilometres of Centerra Gold's Mt Milligan Mine, representing a significant exploration opportunity. Pacific Ridge is an emerging exploration company with an excellent team to advance the Onjo project.\"About the Onjo HighlightsOnjo is located in the Quesnellia arc and on a magnetic trend hosting the Mount Milligan mine (proven and probable reserves of 959 million pounds copper and 2.4 million ounces gold1), and the Kwanika and Chuchi copper-gold depositsHistorical drilling at Onjo intersected multiple small dykes of monzonite associated with anomalous copper mineralizationRelogging of historical drilling by Orogen highlights an approximate 500 by 500 metre zone with indicators of the top of an alkalic porphyry copper-gold systemThe 97 square-kilometre Onjo property is located 70 kilometres north of Fort St James and 10 kilometres west of Centerra Gold's Mount Milligan mine (Figure 1) within the Quesnellia arc, host to several significant alkalic copper-gold porphyry deposits. The Onjo property occurs on the same magnetic trend that hosts the Mount Milligan mine, the Chuchi deposit and Northwest Copper Corp.'s Kwanika deposit (Figure 2).The Onjo claims...

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