Yesterday, Coeur Mining announced exploration updates from four mineralized zones within the Crown Block – Daisy, Secret Pass, SNA and C-Horst (shown in figure 1). This news is of interest to Orogen shareholders, as the mineralized zones, especially C-Horst, are in close proximity to AngloGold Ashanti’s Silicon project, where Orogen holds a 1% NSR royalty.
The release highlights meaningful resource growth potential at the Daisy, Secret Pass, SNA and C-Horst zones. Notable assay results, from west to northeast across the zone, include:
o Hole D20-C004 returned 41.1 meters of 2.6 g/t gold
o Hole D20-C006 returned 21.6 meters 3.5 g/t gold, 15.2 meters of 1.8 g/t gold and 6.7 meters of 2.5 g/t gold
o Hole SP20-C003 returned 84.0 meters of 1.1 g/t gold
o Hole SP20-C004 returned 16.8 meters of 4.4 g/t gold
o Hole SP20-C002 returned 42.4 meters of 1.2 g/t gold and 39.3 meters of 0.9 g/t gold
o Hole SNA20-C004 returned 9.8 meters of 1.0 g/t gold
o Hole CH21-055 returned 74.7 meters of 1.6 g/t gold, 19.8 meters of 0.4 g/t gold and 9.1 meters) of 0.6 g/t gold
o Hole CH20-051 returned 102.1 meters of 0.9 g/t gold, 25.9 meters of 0.8 g/t gold and 30.5 meters of 0.6 g/t gold
Coeur explained that the company drilled approximately 15,075 meters at Crown through the first four months of 2021, compared to roughly 9,050 meters during the same period in 2020. “We are carrying out our most active exploration campaign in Coeur’s history with up to 22 drill rigs deployed across six sites, with positive results rolling in on a regular basis,” said Hans J. Rasmussen, Coeur’s Senior Vice President of Exploration. He continued; “At Crown, we are just now beginning to test the true potential of most of the immense district, following the receipt of a 300-acre disturbance permit in late 2020. Importantly, we expect to receive an amended permit during the third quarter to allow us to begin step out drilling to test the growth potential of C-Horst, which was a new discovery in April of last year. We plan to complete an optimized resource and financial model for the entire district by the end of the year, which will lay the foundation for an initial economic assessment that we expect to release around mid-2022, highlighting the potential to combine and optimize a series of open pit, heap leach operations that incorporate all four of the mineralized zones within the Crown Block."
To view the full news release from Coeur Mining, click here.
This news comes just weeks after Corvus Gold announced a USD $20M loan from AngloGold Ashanti to permitting and pre-development work at Corvus’ North Bullfrog project, as well as ongoing exploration at the Lynnda Strip project, adjacent to AngloGold’s Silicon project.