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Vox Royalty Receives Legacy US$1M Payment and Acquires Latin American Royalty Portfolio
TORONTO, July 23, 2021 /CNW/ - Vox Royalty Corp. (TSXV: VOX) ("Vox" or the "Company"), a high growth precious metals focused royalty company, is pleased to anno
About this update from Vox Royalty Corp
[{"type":"text","content":" TORONTO, July 23, 2021 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (\"Vox\" or the \"Company\"), a high growth precious metals focused royalty company, is pleased to announce that it has executed binding agreements with Titan Minerals Limited (\"Titan\") (ASX: TTM) to acquire four Peruvian gold, silver, and copper royalties (the \"Royalty Portfolio\") for total cash consideration of US$1,000,000. In addition, Titan will pay Vox US$1,000,000 in cash pursuant to the terms of an agreement between Vox's subsidiary, SilverStream SEZC, and a subsidiary of Titan, Mantle Mining Peru S.A.C. (together with the acquisition of the Royalty Portfolio, the \"Transaction\"). The amount paid by Titan to the Company was previously recorded as a non-current accounts receivable balance. The Royalty Portfolio comprises a 3% gross revenue royalty over each of the Cart Project, the Colossus Project, the Jaw Project, and the Phoebe Project (together, the \"Projects\"). Each of the Projects is operated by Titan. Spencer Cole, Chief Investment Officer stated: \"We are pleased to close out this legacy receivable from Titan and to add four highly prospective Peruvian exploration royalties to our portfolio. The royalty tenure is located in geological 'elephant country' proximate to numerous world class orebodies. Titan is targeting large-scale porphyry, skarn and volcanogenic massive sulphide style deposits which if successful could create substantial returns for Vox shareholders over the long term.\" Transaction Highlights Provides exposure to four exploration royalties in Peru which hold potential for the discovery of large-scale precious and base-metal deposits; with historical field work confirming geological alteration systems indicative of such deposit styles. Field work at the Phoebe Project has identified outcropping mineralisation which could be indicative of a copper-molybdenum porphyry system; a geological deposit style which accounts for a large percentage of global copper and molybdenum supplies. Titan has significant experience operating in South America and is well positioned to unlock the potential of these exploration projects. Asset Overview(1) The Phoebe Project is located 500km east of Lima. The tenure is underlain by intercalated limestone, siltstone and sandstone units which have been intruded by a dioritic-monzogranitic batholith...