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Orogen Signs Option and Generative Alliance Agreements With Yamana Gold
VANCOUVER, BC / ACCESSWIRE / August 11, 2021 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc....
About this update from Orogen Royalties Incorporation
[{"type":"text","content":"Orogen Signs Option and Generative Alliance Agreements With Yamana GoldVANCOUVER, BC / ACCESSWIRE / August 11, 2021 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. (\"Orogen\" or the \"Company\") is pleased to announce it has signed two agreements with Meridian Gold Company (\"Meridian\") a wholly owned subsidiary of Yamana Gold Inc., for the option of the Raven and Callaghan gold projects (the \"Option Agreement\") and a three-year partner-funded generative exploration alliance (the \"Alliance Agreement\") in Nevada.Under the terms of the Option Agreement, Meridian can earn up to a 100% interest in the Raven and Callaghan projects by making cash payments totaling US$300,000 and exploration expenditures of US$4.625 million over a five-year period. Orogen will retain a 2.5% net smelter return (\"NSR\") royalty on the Raven Project and a 3% NSR royalty on the Callaghan project, with a buy-down right up to 1.5% on each NSR for up to US$10 million.Under the terms of the Alliance Agreement, generative exploration will be conducted within a 4,000 square kilometre area of interest (\"AOI\") in Nevada. Projects staked within the AOI and selected by Meridian will be subject to similar earn-in terms as the Option Agreement. Orogen will retain a 1% NSR royalty on ground acquired within the Alliance Agreement AOI.\"The Option and Alliance agreements are an evolution of a data alliance struck between Meridian and Orogen back in 2018,\" commented Orogen CEO, Paddy Nicol. \"We will use that data alongside the work compiled by Orogen's generative team to explore the Austin-Lovelock gold trend, an exciting new frontier for Carlin gold exploration.\"About the Raven and Callaghan ProjectsThe Callaghan and Raven projects are Carlin-type gold targets covering multiple windows of prospective lower plate carbonate host rocks and Paleozoic normal faults, including extensions of the Roberts Mountain thrust. Both projects are within 25 kilometres of the town of Austin in Lander County, Nevada (Figure 1).At the Raven Project, the southern claim block covers a mineralized body hosted by an upper-plate Ordovician calcareous siltstone. Thirty-six drill holes have tested this target with intercepts up to 9.96 grams per tonne (\"g/t\") gold over three metres. The lower plate target below this high-grade gold cell remains largely untested.The northern claim blo...