Orogen Royalties has acquired the Onjo copper-gold porphyry property in central British Columbia, Canada, for an undisclosed sum.
Identified through exploration programmes, the property is located approximately 10km west of Centerra Gold’s Mount Milligan Mine and 10km south of the Chuchi copper-gold deposit.
The property is situated on a magnetic trend that hosts the Mount Milligan mine and the Kwanika and Chuchi copper-gold deposits.
Orogen said that historic drilling identified thin monzonite dykes that are associated with minor potassic alteration and copper anomalism.
The 97km² Onjo property is also located within the Quesnellia arc, which is said to host several significant alkalic copper-gold porphyry deposits.
Orogen exploration manager Laurence Pryer said: “Orogen’s technical team believes vectoring into copper-gold mineralisation from the tops of alkalic porphyry copper-gold systems represents a significant exploration opportunity in British Columbia as all major discoveries to date are eroded to the level of the mineralising intrusion.
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“Major porphyry copper-gold systems, including Newcrest’s Cadia-Ridgeway mines in New South Wales, Australia; and Vale’s Onto copper-gold deposit in Indonesia, which were discovered where mineralising intrusions occur at depth, provide excellent analogues to generate porphyry targets such as the Onjo property.”
The company is planning to undertake additional exploration work, including airborne geophysical surveys across the principal target area.
The survey aims to delineate prospective monzonite plugs for drill target generation.
This April, Orogen Royalties agreed to divest Axe copper-gold porphyry project in southern British Columbia to Kodiak Copper.
The 4,893ha Axe project comprises extensive copper-gold bearing porphyry systems within the highly prospective southern Quesnellia terrane rocks.
Orogen, upon completion of the deal, will receive 950,000 shares of Kodiak and a 2% net smelter return (NSR) royalty.