/ Royalty Portfolio
Project Snapshot
Maggie Creek Emerging
Partner:Nevada Gold Mines
Location:Nevada, USA
Stage:Exploration
Metal:Gold
Royalty:2.0% NSR *
AOI:8 km2
Maggie Creek is an emerging gold exploration and royalty project located in Nevada and being advanced through partner-funded exploration activities. The project provides exposure to ongoing exploration success within a prolific regional gold trend.
Overview
The Maggie Creek project lies in the core of the Carlin Trend adjacent to the Gold Quarry Mine. The land position covers the projection of two key fault zones: the northeast trending Chukar-Alunite Fault, a major control on mineralization at Gold Quarry and the southeast trending Castle Reef Fault, which is mineralized at the Carlin Mine. A window of lower plate carbonates is exposed in the core of the Maggie Creek property.
Orogen and U.S. Gold Corp. (“US Gold”) identified targets both beneath and adjacent to the historic drill intersections and in 2021, US Gold completed a two-hole, 1,353 metre drill program. The program successfully demonstrated that Carlin style alteration and host rocks exist at Maggie Creek with similarities to the major Carlin gold mines in the area. These prospective rock packages occur at shallower depths than previously thought, and the results warrant further exploration to vector into more anomalous gold bearing zones.
Royalty & Transaction Summary
Project Generation Timeline
February 15, 2019
Orogen announced an earn-in agreement with US Gold, where US Gold can earn up to a 70% undivided interest in the project by spending US$4.5M over seven years to earn an initial 50% interest, followed by a one time “bump-up option” to increase its interest to 70% by producing a feasibility study by the end of the ninth year of the agreement.
November 10, 2022
Orogen announced an option agreement with Nevada Gold Mines LLC (“NGM”), where NGM can earn a 100% interest in Maggie Creek by making US$5.0 million in cash payments and incurring US$6.0 million in exploration expenses over a five-year period, including a cash payment of US$200,000 on closing and a work commitment of US$750,000 by the first anniversary. Once NGM exercises its option on the Agreement, Orogen will retain a 2% NSR royalty.
Exploration & Recent Activity
In 2023, NGM completed three RC holes totaling 1,282 metres at the Maggie Creek property. The holes were designed to test the shallow Paleozoic bedrock for Carlin type anomalism to define the best location for a deeper, lower plate test. Pathfinder anomalism (including highly anomalous arsenic) was identified in all holes generally increasing with depth and towards the southwest.
In July 2024, NGM began the first core tail which intersected Lower Plate, Rodeo Creek at 442 metres. The hole is ongoing and planned to approximately 1,100 metres.
Reference Materials
November 2022
June 2021
U.S. Gold Corp. Successfully Completes 2021 Drilling at Maggie Creek, Carlin Gold Belt, Nevada
April 2021
May 2020
U.S. Gold Corp. Completes Gravity Survey at Maggie Creek Project on the Carlin Trend in Nevada
November 2019
U.S. Gold Corp. Announces a New Maggie Creek Section on Its Website
September 2019
U.S. Gold Corp. Announces Acquisition of Orevada Metals, Inc.
