The Vancouver-based company will retain a 1% net smelter return (NSR) royalty interest on any future production from South Roberts and a 0.5% NSR on any production from a separate group of claims known as RW.
Located in Eureka County, South Roberts is on the Battle Mountain-Eureka trend of prolific gold deposits and just south of McEwen Mining’s Gold Bar mine.
READ: Renaissance Gold announces transformational deal with Evrim Resources to form leading prospect generator and royalty company
The project targets concealed Carlin-type gold mineralization and has not been adequately drill tested, providing opportunity for “world-class” discovery, according to Renaissance.
In June, Renaissance announced plans to merge with Evrim Resources Inc to form a new multifaceted business called Orogen Royalties Inc, which will focus on project generation buttressed by a strong royalty portfolio.
Orogen's royalty portfolio will contain a 2% NSR on the Ermitaño West gold deposit in Sonora, being developed by First Majestic Silver Corp and planned to be in production in 2021, and a 1% NSR on the Silicon gold project in Nevada, operated by AngloGold Ashanti NA.
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