- Mt Ida construction update including the targeted establishment of a 1.2Mtpa gold plant by
April 2023 by Aurenne; - A mining contractor has been selected, discussions with local mills regarding toll treatment advanced and final high grade drilling results completed at the royalty-linked Myhree gold deposit by Black Cat;
- Following the corporate acquisition of Gold Standard Ventures Corp. ("GSV"), Orla has begun integrating the
South Railroad gold project into its growth plans with key priorities including project permitting, review of project schedule, and assessment of current exploration supporting resource expansion; - Mining lease application update and further reverse circulation ("RC") drilling planned at Bulgera by Norwest; and
- Puzzle North infill drilling success announced by Genesis, which is covered by the Kookynie gold royalty.
- Vox holds a 1.5% net smelter return royalty subsequent to the first 10,000 ounces of cumulative gold production over part of the Mt Ida gold project in
Western Australia , which was acquired inMay 2020 forUS$200,000 ; - The Mt Ida royalty tenements are part of the integrated
Mt Ida Gold Project ("MIG Project ") which encompasses mining of theBottle Creek , Mt Ida and Quinns deposits over an anticipated ~10 year mine life, which is the subject of Mining Proposal #101557 (approvedApril 20, 2022 ), which summarised the following project stages and indicative timeframes: - Stage 1 (
Bottle Creek ): VB North and Emu prospects (non-royalty linked) in Q4 2021 – Q4 2022; - Stage 2 (
Bottle Creek ): VB, Boags, Southwark, Cascade prospects (non-royalty linked) in Q4 2022 – Q1 2023; - Stage 3 (Mt Ida): Tim's Find, Shepherds Bush prospects (royalty linked) in 2023; and
- Stage 4 (Quinns):
Forest Belle , Boudie Rat prospects (royalty linked) in 2024. - In September, 2022, Aurenne announced:
- The project has entered the construction phase to establish a 1.2 Mtpa CIL gold plant by April next year;
- Mining operations, utilizing a new owner fleet, will commence in October this year; and
- Aurenne is currently managing the installation of the non processing infrastructure, including all construction facilities, water and power services, a 190-person village, power station, site buildings, aerodrome and borefield.
- Vox Management Summary: Mt Ida construction continues to progress favourably towards first production in mid-2023. Aurenne is also constructing the project at a higher plant capacity of 1.2Mtpa compared to the prior 750Ktpa scale outlined by the previous project holder in 2020. All of this progress continues to support Vox management expectations around near-term royalty revenue from Mt Ida.
- Vox holds an uncapped 1% net smelter royalty over part of the Bulong gold project in
Western Australia ; - On
November 24, 2022 , Black Cat announced: - Permits are in place and positioned to start mining with mining contractor selected; and
- Discussions with local mills are advanced regarding toll treatment.
- On
October 31, 2022 , Black Cat announced: - The Myhree open pit is fully grade-controlled to a depth of 50m with final assay results that included:
- 4m @ 17.47g/t Au from 46m (22MYGC064);
- 4m @ 11.62g/t Au from 30m (22MYGC056);
- 3m @ 10.73g/t Au from 22m (22MYGC107);
- 6m @ 5.87g/t Au from 38m (22MYGC078);
- 2m @ 10.11g/t Au from 52m (22MYGC064);
- 2m @ 9.76g/t Au from 40m (22MYGC069);
- 7m @ 4.69g/t Au from 18m (22MYGC057);
- 3m @ 5.15g/t Au from 21m (22MYGC056);
- The results reinforced the high-grade open pit Ore Reserve within the Myhree open pit mineral resource; and
- The Myhree open pit is fully approved and mining can commence once a processing solution is secured.
- Vox Management Summary: The Bulong royalty was acquired from an Australian automotive group in
September 2020 and continues to hit major milestones as it progresses closer to tolling production. Black Cat has recently engaged a mining contractor and appears to be very close to locking in toll milling terms to commence production in 2023. This royalty fits Vox's ideal royalty acquisition target as at the time of acquisition we believed it had near term production potential as a high grade open pit alongside meaningful exploration potential at depth.
- Vox holds a 0.633% net smelter royalty with advance minimum royalty payments over key portions of the
South Railroad gold project, which is located in the prolific Carlin Trend ofNevada ; - Vox has been receiving advance minimum royalty payments from GSV since
October 2021 ; - On
November 10, 2022 Orla announced the following project update: - On
August 12, 2022 , Orla completed the acquisition of GSV by way of court-approved plan of arrangement; - Orla has begun integrating
South Railroad into the company's growth plans with key priorities forSouth Railroad to include project permitting, review of project schedule including critical path activities, and assessment of current exploration supporting resource expansion; - Through the remainder of the year, Orla will continue with GSV's 2022 planned program of resource expansion and exploration drilling at key targets on the
South Railroad Project ; - The Company will also commence an additional 5,000 metre RC and core drill program at
South Railroad for an additionalUS$1.5 million , bringing the total 2022 planned direct drilling cost spending toUS$3.0 million across 11,370 metres of drilling; and - The current and primary objectives are to upgrade and increase oxide resources at the Pinion SB, LT, POD, Sweet Hollow, Jasperoid Wash, and Dixie targets.
- Vox Management Summary:
Orla Mining is an ideal royalty project operator with a proven track record of greenfields project development at theirCamino Rojo Oxide Mine , which successfully declared commercial production inApril 2022 . Orla have stated thatSouth Railroad is "analogous toCamino Rojo " as a "low capital, high-margin heap leach project" and that the project is a key part of Orla's future growth. Vox management anticipates additional material permitting, resource expansion and development newsflow from Orla in 2023.
- Vox acquired the uncapped 1% net smelter royalty over the Bulgera gold project in
Western Australia forA$225k inMarch 2021 ; - On
October 31, 2022 , Norwest announced: - The company is compiling information and taking steps required to lodge an application for converting the project exploration license to a mining license ("ML");
- The grant of a ML will enhance ongoing talks with local plant operators regarding the possibility of toll treating the Bulgera gold resources;
- The preliminary optimisation results indicate that low grade Bulgera resources are likely profitable if processed through a local gold plant; and
- Further RC drilling is being planned to increase the Bulgera near surface gold resources by drill targeting the many smaller deposits and prospects identified across the Bulgera tenements by previous explorers.
- Vox Management Summary: Norwest is continuing to take major steps towards a capital-light development solution for the Bulgera gold royalty. Vox management anticipates the granting of a mining license and looks forward to the outcome of discussions with the local gold plant operator regarding potential toll treatment.
- Vox holds a
A$1 /tonne production royalty1 on part of the Kookynie gold project inWestern Australia ; - On
October 10, 2022 , Genesis announced: - Infill drilling of the mineral resource commenced during the quarter and is ongoing in the current December quarter. Highlights include:
- 37m @ 1.1g/t from 19m (22USRC1330);
- 23m @ 1.2g/t from 22m (22USRC1345);
- 25m @ 1.0g/t from 21m (22USRC1348);
- 38m @ 0.6g/t from 82m (22USRC1386);
- 39m @ 0.7g/t from 57m (22USRC1388);
- 41m @ 1.6g/t from 42m (22USRC1451);
- 38m @ 1.8g/t from 29m (22USRC1455); and
- Extensional drilling at Puzzle North tested for mineralisation to the tenement boundary 80m to the north of previous drilling, and also tested for southerly plunge extensions at depth at the southern end of the mineral resource.
- Vox Management Summary: Vox acquired this growing gold exploration royalty for less than
A$150k in 2020 and believes that it continues to appreciate in value with the ongoing expansion of the royalty-linked Puzzle North discovery. These broad drilling intersections suggest the Puzzle North gold discovery is a much larger mineralised zone than initially expected.
Vox is a returns focused mining royalty company with a portfolio of over 60 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest returns on royalty acquisitions in the mining royalty sector. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties.
Further information on Vox can be found at www.voxroyalty.com.
This press release and the documents incorporated by reference herein, as applicable, have been prepared in accordance with Canadian standards for the reporting of mineral resource and mineral reserve estimates, which differ from the previous and current standards of the
For
As a result of the adoption of the SEC Modernization Rules, the
This press release contains "forward-looking statements", within the meaning of the
The forward-looking statements and information in this press release include, but are not limited to, summaries of operator updates provided by management and the potential impact on the Company of such operator updates, statements regarding expectations for the timing of commencement of development, construction at and/or resource production from various mining projects, expectations regarding the size, quality and exploitability of the resources at various mining projects, future operations and work programs of Vox's mining operator partners, the receipt of future royalty payments derived from various royalty assets of Vox, anticipated future cash flows and future financial reporting by Vox, and requirements for and operator ability to receive regulatory approvals.
Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Vox cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Neither the
Except where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox's royalty interests. Vox's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production from a property.
(1) Kookynie Royalty is split in two separate terms: | |||
a. Kookynie (Melita) | |||
b. Kookynie (Consolidated Gold) Royalty – which covers the Puzzle North Discovery: |
SOURCE
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