Orogen Royalties Announces Mineral Resource and Reserve Update on Producing Ermitaño Royalty Including Initial Inferred Resource for the Navidad Vein [Yahoo! Finance]
First Majestic Silver Corp. Ordinary Shares (Canada) (AG)
Last first majestic silver corp. ordinary shares (canada) earnings: 2/19 07:00 am
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Source: Yahoo! Finance
an update to the mineral reserve and resource estimates on the Ermitaño gold mine in Sonora, Mexico, provided by mine operator First Majestic Silver Corp. ("First Majestic") Orogen holds a cash-flowing 2% net smelter return ("NSR") royalty on the 167 square-kilometre Ermitaño concession. Highlights of 2024 Resource and Reserve update Initial Inferred resources for the Navidad vein system of 2.3 million tonnes consisting of 5.9 million ounces of silver and 249,000 ounces of gold at grades of 81 grams per tonne (g/t) and 3.42 g/t respectively. Only a portion of the delineated vein system at Navidad has been estimated, with significant growth potential. Several areas of mineralization within the Ermitaño mine complex remain open including the Luna vein to the east and the Navidad and Winter veins in multiple directions. Paddy Nicol, Orogen's CEO, commented, "The initial Inferred resource at Navidad represents an exciting development for Orogen's producing royalty on the Ermitañ
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