Orogen Royalties Announces Permitting Update for Portal Construction at Ermitaño's Navidad Deposit

Original announcement by tmx on

Company
Orogen Royalties Inc.
Ticker
OGN
Exchange
TSX
Region
Sonora, Mexico
Primary commodity
Gold
Secondary commodities
Silver
Document categories
Drill results, Permitting, Resource update
Extracted
2026-09-16 14:45:08 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

Orogen Royalties announced that First Majestic Silver Corp. has received permits for portal construction at the Navidad deposit, a significant development milestone. The company also reported new high-grade gold and silver drill results from over 7,700 metres of infill drilling at the Winter Vein, which supports resource conversion and increased confidence in continuity. Additionally, updated mineral reserve and resource estimates for Ermitaño and Navidad were provided, effective December 31, 2025, highlighting the project's potential to extend the Santa Elena mine life.

Reasoning: Orogen Royalties announced receiving permits for portal construction at the Navidad deposit, a critical step for project development. This was accompanied by new high-grade drill results from infill drilling and an updated resource and reserve estimate, indicating strong progress and potential for extended mine life.

Positive factors

  • Permits received for portal construction, a key development milestone
  • Significant high-grade gold and silver drill intercepts reported
  • Updated resource and reserve estimates with potential for mine life extension
  • Infill drilling supports conversion of Inferred to Indicated Resources

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 23

Extracted facts

Stored fact records: 22. Some facts used in scoring do not have a stored record.

Drill Results (20)

EWUG-26-091Navidad · goldGrade: 10.32Grade Unit: g/tIntercept: 0.47 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
10.32
Grade Unit
g/t
Intercept
0.47 m
True Width
0.47 m
From
607.5 m
To
608 m
Intercept Depth
607.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
EWUG-26-091:607.5-608

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: This very high-grade gold intercept, though extremely narrow, is a bonanza result, supported by true width disclosure and QA/QC.

Positive factors

  • Bonanza Intercept (10.32 g/t Au exceeds 8 g/t underground threshold)
  • True Width Disclosed
  • QA/QC Disclosed

Negative factors

  • Very narrow intercept length

Evidence · table

“10.32”

Context: 0.47

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.47

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Infill Drillingneutral

Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill_program_type is "resource"

EWUG-26-091Navidad · silverGrade: 49Grade Unit: g/tIntercept: 0.47 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
49
Grade Unit
g/t
Intercept
0.47 m
True Width
0.47 m
From
607.5 m
To
608 m
Intercept Depth
607.5 m

Classification

Deposit Type
epithermal
Program
resource
Sample Type
drill
Group ID
EWUG-26-091:607.5-608

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: This intercept shows a weak silver grade over an extremely narrow true width, falling just below the strong threshold, despite true width disclosure and QA/QC.

Positive factors

  • True Width Disclosed
  • QA/QC Disclosed

Negative factors

  • Grade is weak for epithermal silver (49 g/t is below 50 g/t threshold)
  • Very narrow intercept length

Evidence · table

“49”

Context: 0.47

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.47

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Infill Drillingneutral

Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill_program_type is "resource"

EWUG-26-087Navidad · goldGrade: 1.48Grade Unit: g/tIntercept: 1.5 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-087
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
1.48
Grade Unit
g/t
Intercept
1.5 m
True Width
1.3 m
From
617.5 m
To
619 m
Intercept Depth
617.5 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-087:617.5-619

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 1.48 g/t gold is moderate against the default band [5, 2, 1, 0.3] g/t. Grade×width 2.2 g/t·m is below (grade alone is moderate; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“1.48”

Context: EWUG-26-087

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 1.3

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-087Navidad · silverGrade: 26Grade Unit: g/tIntercept: 1.5 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-087
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
26
Grade Unit
g/t
Intercept
1.5 m
True Width
1.3 m
From
617.5 m
To
619 m
Intercept Depth
617.5 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-087:617.5-619

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 26 g/t silver is below against the default band [500, 200, 100, 30] g/t. Grade×width 39.0 g/t·m is below.

Negative factors

  • 26 g/t silver is below the weak threshold (30 g/t) on the default band.
  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“26”

Context: EWUG-26-087

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 1.3

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-088Navidad · goldGrade: 11.99Grade Unit: g/tIntercept: 4.85 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-088
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
11.99
Grade Unit
g/t
Intercept
4.85 m
True Width
3.43 m
From
600.15 m
To
605 m
Intercept Depth
600.15 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-088:600.15-605

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 11.99 g/t gold is exceptional against the default band [5, 2, 1, 0.3] g/t. Grade×width 58.2 g/t·m is moderate (grade alone is exceptional; the better of the two is used).

Positive factors

  • 11.99 g/t gold is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“11.99”

Context: EWUG-26-088

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 3.43

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-088Navidad · silverGrade: 358Grade Unit: g/tIntercept: 4.85 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-088
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
358
Grade Unit
g/t
Intercept
4.85 m
True Width
3.43 m
From
600.15 m
To
605 m
Intercept Depth
600.15 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-088:600.15-605

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 358 g/t silver is strong against the default band [500, 200, 100, 30] g/t. Grade×width 1736.3 g/t·m is moderate (grade alone is strong; the better of the two is used).

Positive factors

  • 358 g/t silver is strong on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“358”

Context: EWUG-26-088

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 3.43

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · goldGrade: 34.28Grade Unit: g/tIntercept: 0.9 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
34.28
Grade Unit
g/t
Intercept
0.9 m
True Width
0.64 m
From
600.15 m
To
601.05 m
Intercept Depth
600.15 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:600.15-601.05

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 34.28 g/t gold is exceptional against the default band [5, 2, 1, 0.3] g/t. Grade×width 30.9 g/t·m is moderate (grade alone is exceptional; the better of the two is used).

Positive factors

  • 34.28 g/t gold is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“34.28”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.64

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · silverGrade: 773Grade Unit: g/tIntercept: 0.9 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
773
Grade Unit
g/t
Intercept
0.9 m
True Width
0.64 m
From
600.15 m
To
601.05 m
Intercept Depth
600.15 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:600.15-601.05

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 773 g/t silver is exceptional against the default band [500, 200, 100, 30] g/t. Grade×width 695.7 g/t·m is weak (grade alone is exceptional; the better of the two is used).

Positive factors

  • 773 g/t silver is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“773”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.64

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · goldGrade: 26.05Grade Unit: g/tIntercept: 0.7 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
26.05
Grade Unit
g/t
Intercept
0.7 m
True Width
0.49 m
From
601.35 m
To
602.05 m
Intercept Depth
601.35 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:601.35-602.05

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 26.05 g/t gold is exceptional against the default band [5, 2, 1, 0.3] g/t. Grade×width 18.2 g/t·m is weak (grade alone is exceptional; the better of the two is used).

Positive factors

  • 26.05 g/t gold is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“26.05”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.49

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · silverGrade: 584Grade Unit: g/tIntercept: 0.7 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
584
Grade Unit
g/t
Intercept
0.7 m
True Width
0.49 m
From
601.35 m
To
602.05 m
Intercept Depth
601.35 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:601.35-602.05

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 584 g/t silver is exceptional against the default band [500, 200, 100, 30] g/t. Grade×width 408.8 g/t·m is weak (grade alone is exceptional; the better of the two is used).

Positive factors

  • 584 g/t silver is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“584”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.49

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · goldGrade: 3.14Grade Unit: g/tIntercept: 4.25 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
3.14
Grade Unit
g/t
Intercept
4.25 m
True Width
2.73 m
From
732.45 m
To
736.7 m
Intercept Depth
732.45 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:732.45-736.7

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 3.14 g/t gold is strong against the default band [5, 2, 1, 0.3] g/t. Grade×width 13.3 g/t·m is weak (grade alone is strong; the better of the two is used).

Positive factors

  • 3.14 g/t gold is strong on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“3.14”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 2.73

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · silverGrade: 73Grade Unit: g/tIntercept: 4.25 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
73
Grade Unit
g/t
Intercept
4.25 m
True Width
2.73 m
From
732.45 m
To
736.7 m
Intercept Depth
732.45 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:732.45-736.7

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 73 g/t silver is weak against the default band [500, 200, 100, 30] g/t. Grade×width 310.3 g/t·m is weak.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“73”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 2.73

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-089Navidad · goldGrade: 23.59Grade Unit: g/tIntercept: 2.65 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-089
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
23.59
Grade Unit
g/t
Intercept
2.65 m
True Width
2.49 m
From
562.65 m
To
565.3 m
Intercept Depth
562.65 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-089:562.65-565.3

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 23.59 g/t gold is exceptional against the default band [5, 2, 1, 0.3] g/t. Grade×width 62.5 g/t·m is moderate (grade alone is exceptional; the better of the two is used).

Positive factors

  • 23.59 g/t gold is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“23.59”

Context: EWUG-26-089

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 2.49

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-089Navidad · silverGrade: 359Grade Unit: g/tIntercept: 2.65 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-089
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
359
Grade Unit
g/t
Intercept
2.65 m
True Width
2.49 m
From
562.65 m
To
565.3 m
Intercept Depth
562.65 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-089:562.65-565.3

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 359 g/t silver is strong against the default band [500, 200, 100, 30] g/t. Grade×width 951.4 g/t·m is weak (grade alone is strong; the better of the two is used).

Positive factors

  • 359 g/t silver is strong on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“359”

Context: EWUG-26-089

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 2.49

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · goldGrade: 3.5Grade Unit: g/tIntercept: 15.85 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
3.5
Grade Unit
g/t
Intercept
15.85 m
True Width
14.89 m
From
601.65 m
To
617.5 m
Intercept Depth
601.65 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:601.65-617.5

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 3.5 g/t gold is strong against the default band [5, 2, 1, 0.3] g/t. Grade×width 55.5 g/t·m is moderate (grade alone is strong; the better of the two is used).

Positive factors

  • 3.5 g/t gold is strong on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“3.50”

Context: EWUG-26-091

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 14.89

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · silverGrade: 28Grade Unit: g/tIntercept: 15.85 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
28
Grade Unit
g/t
Intercept
15.85 m
True Width
14.89 m
From
601.65 m
To
617.5 m
Intercept Depth
601.65 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:601.65-617.5

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 28 g/t silver is weak against the default band [500, 200, 100, 30] g/t. Grade×width 443.8 g/t·m is weak (grade alone is below; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“28”

Context: EWUG-26-091

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 14.89

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · goldGrade: 11.7Grade Unit: g/tIntercept: 0.35 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
11.7
Grade Unit
g/t
Intercept
0.35 m
True Width
0.33 m
From
603 m
To
603.35 m
Intercept Depth
603 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:603-603.35

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 11.7 g/t gold is exceptional against the default band [5, 2, 1, 0.3] g/t. Grade×width 4.1 g/t·m is below (grade alone is exceptional; the better of the two is used).

Positive factors

  • 11.7 g/t gold is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“11.70”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.33

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · silverGrade: 88Grade Unit: g/tIntercept: 0.35 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
88
Grade Unit
g/t
Intercept
0.35 m
True Width
0.33 m
From
603 m
To
603.35 m
Intercept Depth
603 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:603-603.35

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 88 g/t silver is weak against the default band [500, 200, 100, 30] g/t. Grade×width 30.8 g/t·m is below (grade alone is weak; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“88”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.33

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · goldGrade: 10.2Grade Unit: g/tIntercept: 0.4 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
gold
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
10.2
Grade Unit
g/t
Intercept
0.4 m
True Width
0.38 m
From
605.35 m
To
605.75 m
Intercept Depth
605.35 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:605.35-605.75

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 10.2 g/t gold is exceptional against the default band [5, 2, 1, 0.3] g/t. Grade×width 4.1 g/t·m is below (grade alone is exceptional; the better of the two is used).

Positive factors

  • 10.2 g/t gold is exceptional on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“10.20”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.38

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

EWUG-26-091Navidad · silverGrade: 77Grade Unit: g/tIntercept: 0.4 mView all details
Link to this fact

Identity

Hole ID
EWUG-26-091
Project
Navidad
Commodity
silver
Region
mexico
Reported Region
mexico
Ticker
OGN

Geometry

Grade
77
Grade Unit
g/t
Intercept
0.4 m
True Width
0.38 m
From
605.35 m
To
605.75 m
Intercept Depth
605.35 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
EWUG-26-091:605.35-605.75

Location

Location
Winter Vein
Loc. Source
document

QA/QC

QP Signed
Yes

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: Expanded from assay table. 77 g/t silver is weak against the default band [500, 200, 100, 30] g/t. Grade×width 30.8 g/t·m is below (grade alone is weak; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“77”

Context: Table 1: Ermitaño and Navidad Reserves a

Tags used in scoring

True Width Disclosedpositive

Actual thickness perpendicular to structure is stated, not just downhole length.

Why it applies: true_width_m is 0.38

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Resource Estimates (2)

inferredErmitaño and Navidad · goldTonnes: 11520000Grade: 1.8Grade Unit: g/tContained Metal: 670Contained Unit: kozView all details
Link to this fact

Identity

Project
Ermitaño and Navidad
Commodity
gold
Region
mexico
Reported Region
Sonora, Mexico
Ticker
OGN

Resource scope

Estimate type
resource
Effective date
2025-12-31T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Laurence Pryer
Resource group id
resource:02c7ae682cc417a85f7f

Resource Data

Category
inferred
Tonnes
11520000
Grade
1.8
Grade Unit
g/t
Contained Metal
670
Contained Unit
koz

Prior Estimate

Resource Date
2025-12-31

Review

Needs Review
No
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: The total Inferred gold resources represent significant exploration potential with a strong average grade, but the Inferred category implies lower geological confidence, despite QP sign-off and NI 43-101 compliance.

Positive factors

  • Total Inferred Resources indicate significant exploration potential
  • Grade is strong for gold (1.8 g/t exceeds 0.5 g/t threshold)
  • QP/CP Signed
  • JORC/NI 43-101 Compliant

Negative factors

  • Inferred Resource category indicates lower confidence

Evidence · table

“1.80”

Context: 11.52

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredErmitaño and Navidad · silverTonnes: 11520000Grade: 65Grade Unit: g/tContained Metal: 24.19Contained Unit: mozView all details
Link to this fact

Identity

Project
Ermitaño and Navidad
Commodity
silver
Region
mexico
Reported Region
Sonora, Mexico
Ticker
OGN

Resource scope

Estimate type
resource
Effective date
2025-12-31T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Laurence Pryer
Resource group id
resource:02c7ae682cc417a85f7f

Resource Data

Category
inferred
Tonnes
11520000
Grade
65
Grade Unit
g/t
Contained Metal
24.19
Contained Unit
moz

Prior Estimate

Resource Date
2025-12-31

Review

Needs Review
No
Historical
No

Dates

Event date
2026-06-30T00:00:00.000Z

Reasoning: The total Inferred silver resources represent significant exploration potential with a strong average grade, but the Inferred category implies lower geological confidence, despite QP sign-off and NI 43-101 compliance.

Positive factors

  • Total Inferred Resources indicate significant exploration potential
  • Grade is strong for silver (65 g/t exceeds 30 g/t threshold)
  • QP/CP Signed
  • JORC/NI 43-101 Compliant

Negative factors

  • Inferred Resource category indicates lower confidence

Evidence · table

“65”

Context: 11.52

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.