Orogen Royalties has announced the acquisition of the TCS volcanic-hosted-massive-sulphide (VHMS) project in British Columbia, Canada.
The company has secured a 100% interest in the TCS project from a syndicate of prospectors.
This deal involved an upfront payment of $25,000 in cash and a commitment to make exploration expenditures of $125,000.
Post the third anniversary of the acquisition, Orogen will pay the syndicate an annual fee of $20,000 until the completion of 15,000m of drilling.
In the event of a future agreement that results in a payment for the TCS project, the syndicate will receive 20% of that future payment.
Additionally, should a future payment include a royalty interest, Orogen has the option to buy back half of the syndicate’s royalty at the rate of $200,000 for each 0.1%.
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By GlobalData
TCS project spans 1,850ha of gentle terrain in north-western British Columbia, approximately 13km from Dease Lake.
It is situated within the King Salmon allochthon, which also hosts the Kutcho VHMS deposit, suggesting a geologically promising location for Orogen’s exploration efforts.
Exploration activities at the TCS project have included geological mapping, geochemical sampling and geophysics.
These efforts have identified a window of outcropping bimodal metavolcanics, with soil anomalies in copper and zinc, and float samples containing up to 3.2% copper and 3.5% zinc.
A 223 line-kilometre VTEM [Versatile Time Domain Electromagnetic] geophysical survey completed in 2023 has revealed several high-priority conductors.
These conductors, associated with the anomalous surface geochemistry, extend under a cover of surficial materials and are interpreted to be at the top of the folded bimodal volcanic section, akin to the setting at the Kutcho project.
Developed under Orogen’s generative and project identification programme in 2023, the TCS project is now available for option or sale.
Orogen recognises the project’s location on the traditional territory of the Tahltan Nation and is committed to fostering a relationship with the community.
