Orogen Royalties Updates on Ermitaño Royalty and Navidad Vein Potential

Orogen Royalties Inc. announced a significant update on the mineral reserve and resource estimates for the Ermitaño gold mine in Sonora, Mexico. This update includes an initial inferred resource for the Navidad vein. Orogen holds a 2% net smelter return royalty on the Ermitaño concession, operated by First Majestic Silver Corp.

The 2024 update reveals initial inferred resources for the Navidad vein system amounting to 2.3 million tonnes. These resources contain 5.9 million ounces of silver and 249,000 ounces of gold with respective grades of 81 g/t and 3.42 g/t. Notably, there's potential for further growth, as only a segment of the vein system has been estimated.

Ongoing exploration shows several areas of mineralization remain open. The Inferred category of gold saw a 260% year-on-year increase, highlight of a promising future for the site. Plans for 55,000 meters of drilling in 2025 aim to explore further potential.