# Orogen Royalties Reports Continued Exploration Success on Ermita&\#xF1;o Royalty AOI Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7 Original source: https://money.tmx.com/en/quote/OGN/news/8665003013888243/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a Publisher: tmx Original announcement: 2025-12-18T12:30:00.000Z 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, Resource update - Extracted: 2026-08-24 02:46:46 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Orogen Royalties reports continued exploration success at its Ermitaño royalty in Mexico, highlighting new gold and silver intercepts at the Navidad and Luna targets. The results include mineralization extensions and resource conversion drilling intended to upgrade the Luna resource. Reasoning: The announcement reports successful exploration extension at the Navidad target and resource conversion drilling at Luna, supporting long-term royalty upside. - Positive factor: Step-Out Extension - Positive factor: True Width Disclosed Facts used in scoring: 18 ## Classification and evidence **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: Multiple intercepts report true width explicitly. Evidence · table > 8 Context: 710.5 **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: Release refers to First Majestic's QA/QC procedures. Evidence · text > For full drill results QAQC procedures and notes refer to **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: Luna area drilling is described as resource conversion drilling. Evidence · text > resource conversion drilling at the Luna area ## Extracted facts Stored fact records: 18. Some facts used in scoring do not have a stored record. ## Drill Results (18) ### EWUG-25-078 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-0) Ermitaño · gold #### Identity - Hole ID: EWUG-25-078 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 5.8 - Grade Unit: g/t - Intercept: 11.3 m - True Width: 8 m - From: 710.5 m - To: 721.8 m #### Classification - Sample Type: drill - Group ID: EWUG-25-078:710.5-721.8 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Strong gold intercept with true width disclosed. - Positive factor: True Width Disclosed Evidence · table > 5.8 Context: 710.5 ### EWUG-25-078 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-1) Ermitaño · silver #### Identity - Hole ID: EWUG-25-078 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 126 - Grade Unit: g/t - Intercept: 11.3 m - True Width: 8 m - From: 710.5 m - To: 721.8 m #### Classification - Sample Type: drill - Group ID: EWUG-25-078:710.5-721.8 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Significant silver grade accompanying gold intercept. Evidence · table > 126 Context: 710.5 ### EWUG-25-052 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-2) Ermitaño · gold #### Identity - Hole ID: EWUG-25-052 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 5.53 - Grade Unit: g/t - Intercept: 10.9 m - True Width: 7.7 m - From: 766 m - To: 776.9 m #### Classification - Sample Type: drill - Group ID: EWUG-25-052:766-776.9 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Strong gold intercept with true width disclosed. - Positive factor: True Width Disclosed Evidence · table > 5.53 Context: 766 ### EWUG-25-052 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-3) Ermitaño · silver #### Identity - Hole ID: EWUG-25-052 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 67 - Grade Unit: g/t - Intercept: 10.9 m - True Width: 7.7 m - From: 766 m - To: 776.9 m #### Classification - Sample Type: drill - Group ID: EWUG-25-052:766-776.9 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Silver grade accompanying gold intercept. Evidence · table > 67 Context: 766 ### EWUG-25-078 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-4) Ermitaño · gold #### Identity - Hole ID: EWUG-25-078 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 4.88 - Grade Unit: g/t - Intercept: 9.2 m - True Width: 4.6 m - From: 1045.1 m - To: 1054.3 m #### Classification - Sample Type: drill - Group ID: EWUG-25-078:1045.1-1054.3 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Solid gold intercept with true width disclosed. - Positive factor: True Width Disclosed Evidence · table > 4.88 Context: 1,045.1 ### EWUG-25-078 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-5) Ermitaño · silver #### Identity - Hole ID: EWUG-25-078 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 50 - Grade Unit: g/t - Intercept: 9.2 m - True Width: 4.6 m - From: 1045.1 m - To: 1054.3 m #### Classification - Sample Type: drill - Group ID: EWUG-25-078:1045.1-1054.3 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Silver grade accompanying gold intercept. Evidence · table > 50 Context: 1,045.1 ### EWUG-25-052 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-6) Ermitaño · gold #### Identity - Hole ID: EWUG-25-052 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 1.3 - Grade Unit: g/t - Intercept: 11.1 m - True Width: 5.6 m - From: 1165.4 m - To: 1176.5 m #### Classification - Sample Type: drill - Group ID: EWUG-25-052:1165.4-1176.5 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Lower grade intercept. Evidence · table > 1.3 Context: 1,165.4 ### EWUG-25-052 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-7) Ermitaño · silver #### Identity - Hole ID: EWUG-25-052 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 54 - Grade Unit: g/t - Intercept: 11.1 m - True Width: 5.6 m - From: 1165.4 m - To: 1176.5 m #### Classification - Sample Type: drill - Group ID: EWUG-25-052:1165.4-1176.5 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Silver grade accompanying gold intercept. Evidence · table > 54 Context: 1,165.4 ### EWUG-25-074 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-8) Ermitaño · gold #### Identity - Hole ID: EWUG-25-074 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 5.04 - Grade Unit: g/t - Intercept: 11.5 m - True Width: 5.4 m - From: 205.2 m - To: 213.7 m #### Classification - Sample Type: drill - Group ID: EWUG-25-074:205.2-213.7 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Strong gold intercept with true width disclosed during resource conversion drilling. - Positive factor: True Width Disclosed Evidence · table > 5.04 Context: 205.2 ### EWUG-25-074 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-9) Ermitaño · silver #### Identity - Hole ID: EWUG-25-074 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 126 - Grade Unit: g/t - Intercept: 11.5 m - True Width: 5.4 m - From: 205.2 m - To: 213.7 m #### Classification - Sample Type: drill - Group ID: EWUG-25-074:205.2-213.7 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Significant silver grade accompanying gold intercept. Evidence · table > 126 Context: 205.2 ### EW-25-397 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-10) Ermitaño · gold #### Identity - Hole ID: EW-25-397 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 2.63 - Grade Unit: g/t - Intercept: 12.8 m - True Width: 9.1 m - From: 362.2 m - To: 375 m #### Classification - Sample Type: drill - Group ID: EW-25-397:362.2-375 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 2.63 g/t gold is moderate against the underground mining band \[15, 7, 4, 2.5\] g/t. Grade×width 33.7 g/t·m is moderate \(grade alone is weak; the better of the two is used\). - Negative factor: Scored from rubric bands during table expansion, not from document context. Evidence · table > 2.63 Context: EW-25-397 ### EW-25-397 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-11) Ermitaño · silver #### Identity - Hole ID: EW-25-397 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 67 - Grade Unit: g/t - Intercept: 12.8 m - True Width: 9.1 m - From: 362.2 m - To: 375 m #### Classification - Sample Type: drill - Group ID: EW-25-397:362.2-375 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 67 g/t silver is weak against the default band \[500, 200, 100, 30\] g/t. Grade×width 857.6 g/t·m is weak. - Negative factor: Scored from rubric bands during table expansion, not from document context. Evidence · table > 67 Context: EW-25-397 ### EW-25-393 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-12) Ermitaño · gold #### Identity - Hole ID: EW-25-393 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 2.39 - Grade Unit: g/t - Intercept: 12.9 m - True Width: 9.9 m - From: 392.5 m - To: 405.4 m #### Classification - Sample Type: drill - Group ID: EW-25-393:392.5-405.4 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 2.39 g/t gold is moderate against the underground mining band \[15, 7, 4, 2.5\] g/t. Grade×width 30.8 g/t·m is moderate \(grade alone is below; the better of the two is used\). - Negative factor: Scored from rubric bands during table expansion, not from document context. Evidence · table > 2.39 Context: EW-25-393 ### EW-25-393 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-13) Ermitaño · silver #### Identity - Hole ID: EW-25-393 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 50 - Grade Unit: g/t - Intercept: 12.9 m - True Width: 9.9 m - From: 392.5 m - To: 405.4 m #### Classification - Sample Type: drill - Group ID: EW-25-393:392.5-405.4 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 50 g/t silver is weak against the default band \[500, 200, 100, 30\] g/t. Grade×width 645.0 g/t·m is weak. - Negative factor: Scored from rubric bands during table expansion, not from document context. Evidence · table > 50 Context: EW-25-393 ### EW-25-399 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-14) Ermitaño · gold #### Identity - Hole ID: EW-25-399 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 3.04 - Grade Unit: g/t - Intercept: 11 m - True Width: 9.6 m - From: 312.9 m - To: 323.9 m #### Classification - Sample Type: drill - Group ID: EW-25-399:312.9-323.9 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 3.04 g/t gold is moderate against the underground mining band \[15, 7, 4, 2.5\] g/t. Grade×width 33.4 g/t·m is moderate \(grade alone is weak; the better of the two is used\). - Negative factor: Scored from rubric bands during table expansion, not from document context. Evidence · table > 3.04 Context: EW-25-399 ### EW-25-399 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-15) Ermitaño · silver #### Identity - Hole ID: EW-25-399 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 54 - Grade Unit: g/t - Intercept: 11 m - True Width: 9.6 m - From: 312.9 m - To: 323.9 m #### Classification - Sample Type: drill - Group ID: EW-25-399:312.9-323.9 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 54 g/t silver is weak against the default band \[500, 200, 100, 30\] g/t. Grade×width 594.0 g/t·m is weak. - Negative factor: Scored from rubric bands during table expansion, not from document context. Evidence · table > 54 Context: EW-25-399 ### EWUG-25-073 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-16) Ermitaño · gold #### Identity - Hole ID: EWUG-25-073 - Project: Ermitaño - Commodity: gold - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 1.96 - Grade Unit: g/t - Intercept: 12.1 m - True Width: 6.1 m - From: 284.8 m - To: 296.9 m #### Classification - Sample Type: drill - Group ID: EWUG-25-073:284.8-296.9 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 1.96 g/t gold is weak against the underground mining band \[15, 7, 4, 2.5\] g/t. Grade×width 23.7 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 > 1.96 Context: EWUG-25-073 ### EWUG-25-073 [Link to this fact](https://atlas-staging.minestarters.com/news/orogen-royalties-reports-continued-exploration-success-on-ermita-xf1-o-royalty-a--7058338c-1d10-4d32-a2da-8ff9cae235f7#fact-drill-facts-17) Ermitaño · silver #### Identity - Hole ID: EWUG-25-073 - Project: Ermitaño - Commodity: silver - Region: mexico - Reported Region: Sonora, Mexico - Ticker: OGN #### Geometry - Grade: 57 - Grade Unit: g/t - Intercept: 12.1 m - True Width: 6.1 m - From: 284.8 m - To: 296.9 m #### Classification - Sample Type: drill - Group ID: EWUG-25-073:284.8-296.9 - Mining Method: underground #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-18T00:00:00.000Z Reasoning: Expanded from assay table. 57 g/t silver is weak against the default band \[500, 200, 100, 30\] g/t. Grade×width 689.7 g/t·m is weak. - Negative factor: Scored from rubric bands during table expansion, not from document context. Evidence · table > 57 Context: EWUG-25-073 ## 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.