# Orogen Royalties Announces Permitting Update for Portal Construction at Ermita&\#xF1;o's Navidad Deposit

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385

Original source: https://money.tmx.com/en/quote/OGN/news/4650326726086518/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x

Publisher: tmx

Original announcement: 2026-06-30T11:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas 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 factor: Permits received for portal construction, a key development milestone

- Positive factor: Significant high-grade gold and silver drill intercepts reported

- Positive factor: Updated resource and reserve estimates with potential for mine life extension

- Positive factor: 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

## Classification and evidence

No classification tags are available.

## Extracted facts

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

## Drill Results (20)

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-1)

Navidad · gold

#### 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 factor: Bonanza Intercept \(10.32 g/t Au exceeds 8 g/t underground threshold\)

- Positive factor: True Width Disclosed

- Positive factor: QA/QC Disclosed

- Negative factor: Very narrow intercept length

Evidence · table

> 10.32

Context: 0.47

#### Tags used in scoring

**True Width Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.47

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-2)

Navidad · silver

#### 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 factor: True Width Disclosed

- Positive factor: QA/QC Disclosed

- Negative factor: Grade is weak for epithermal silver \(49 g/t is below 50 g/t threshold\)

- Negative factor: Very narrow intercept length

Evidence · table

> 49

Context: 0.47

#### Tags used in scoring

**True Width Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.47

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### EWUG-26-087

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-5)

Navidad · gold

#### 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 factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 1.3

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-087

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-6)

Navidad · silver

#### 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 factor: 26 g/t silver is below the weak threshold \(30 g/t\) on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 26

Context: EWUG-26-087

#### Tags used in scoring

**True Width Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 1.3

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-088

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-7)

Navidad · gold

#### 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 factor: 11.99 g/t gold is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 3.43

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-088

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-8)

Navidad · silver

#### 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 factor: 358 g/t silver is strong on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 358

Context: EWUG-26-088

#### Tags used in scoring

**True Width Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 3.43

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-9)

Navidad · gold

#### 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 factor: 34.28 g/t gold is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.64

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-10)

Navidad · silver

#### 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 factor: 773 g/t silver is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.64

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-11)

Navidad · gold

#### 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 factor: 26.05 g/t gold is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.49

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-12)

Navidad · silver

#### 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 factor: 584 g/t silver is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.49

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-13)

Navidad · gold

#### 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 factor: 3.14 g/t gold is strong on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 2.73

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-14)

Navidad · silver

#### 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 factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 2.73

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-089

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-15)

Navidad · gold

#### 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 factor: 23.59 g/t gold is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 2.49

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-089

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-16)

Navidad · silver

#### 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 factor: 359 g/t silver is strong on the default band.

- Negative factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 359

Context: EWUG-26-089

#### Tags used in scoring

**True Width Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 2.49

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-17)

Navidad · gold

#### 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 factor: 3.5 g/t gold is strong on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 14.89

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-18)

Navidad · silver

#### 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 factor: Scored from rubric bands during table expansion, not from document context.

Evidence · table

> 28

Context: EWUG-26-091

#### Tags used in scoring

**True Width Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 14.89

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-19)

Navidad · gold

#### 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 factor: 11.7 g/t gold is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.33

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-20)

Navidad · silver

#### 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 factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.33

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-21)

Navidad · gold

#### 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 factor: 10.2 g/t gold is exceptional on the default band.

- Negative factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.38

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### EWUG-26-091

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-drill-facts-22)

Navidad · silver

#### 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 factor: 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 Disclosed**

Polarity: positive

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

Why it applies: true\_width\_m is 0.38

**No QA/QC Disclosure**

Polarity: negative

Definition: 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 Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

## Resource Estimates (2)

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-resource-facts-3)

Ermitaño and Navidad · gold

#### 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 factor: Total Inferred Resources indicate significant exploration potential

- Positive factor: Grade is strong for gold \(1.8 g/t exceeds 0.5 g/t threshold\)

- Positive factor: QP/CP Signed

- Positive factor: JORC/NI 43-101 Compliant

- Negative factor: Inferred Resource category indicates lower confidence

Evidence · table

> 1.80

Context: 11.52

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/orogen-royalties-announces-permitting-update-for-portal-construction-at-ermita-x--39434b9e-bf1d-4e49-af8d-20b4c4f2b385#fact-resource-facts-4)

Ermitaño and Navidad · silver

#### 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 factor: Total Inferred Resources indicate significant exploration potential

- Positive factor: Grade is strong for silver \(65 g/t exceeds 30 g/t threshold\)

- Positive factor: QP/CP Signed

- Positive factor: JORC/NI 43-101 Compliant

- Negative factor: Inferred Resource category indicates lower confidence

Evidence · table

> 65

Context: 11.52

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: 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.