Vox Royalty Corp (CVE:VOX) (OTCMKTS:VOXCF) updated Thursday on activity by its royalty operating partners, including the strong potential for the start of mining at the Bulong open pit gold mine in Western Australia by the Black Cat Syndicate Ltd (ASX:BC8) next year.
Royalty firm Vox was established in 2014 and already boasts a portfolio of over 45 royalties and streams. At Bulong, it holds a 1% net smelter royalty (NSR) royalty.
In November this year, Black Cat released a study, summarizing its aim to construct a 500,000 tonnes per annum (tpa) processing facility, targeting the start of Stage 1 open pit mining at the Myhree deposit (royalty-linked) in the December 2021 quarter and full production in the March 2022 quarter.
Total targeted production of 168,000 ounces over an initial four years was included in the studies, including royalty-linked production of 79,000 ounces from the Myhree deposit (46,000 ounces from open pit, plus 33,000 ounces from underground) and 6,000 ounces from the Boundary open pit.
Meanwhile, on December 1, ValOre Metals Corp (CVE:VO) (OTCMKTS:KVLQF) (FRA:KEQ0) reported drill results from the Pedra Branca platinum group elements (PGE) project in Brazil, where Vox also holds a 1% NSR.
Notably, the PGE-bearing intrusion was hit in all eight core holes drilled to the south of the resource area, which was identified in the current NI 43 - 101 resource.
One hole intersected 76.74 metres (m) at 1.25 grams per tonne (g/t) 2PGE+Au (palladium plus platinum plus gold) from 176.81m, Vox noted.
"The catalyst-rich and deep portfolio of royalties Vox continues to acquire at precedent-setting pace is building immense value for our shareholders through organic developments and advancements by our operating partners," said Kyle Floyd, CEO at Vox Royalty, in a statement.
Floyd noted that when Vox acquired the Bulong royalty from RPM Automotive Group in June this year, the company believed the project would be "catalyst-rich and had strong potential for near term production".
"We are thrilled with this update, confirming strong potential for 2021 mining commencement at Bulong.
"Likewise, the impressive drilling results from Pedra Branca speak to the world-class nature of this growing orebody, which is already the largest PGE deposit in South America. We look forward with great anticipation to sharing further exciting organic news flow over the coming months from over 40 operating partners who are actively progressing projects underlying our royalty interests."
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