Orogen Royalties announced that First Majestic Silver Corp., operator of the Santa Elena/Ermitaño mine, has received permits for portal construction at the Navidad deposit, where Orogen holds a 2% net smelter return royalty. First Majestic has committed an additional US$12 million to initiate portal construction for Navidad and the non-royalty Santo Niño deposit, providing underground access and supporting decline and ramp development. Over 7,700 metres of infill drilling in ten holes of a planned 17,000-metre 2026 program has been completed at Navidad's Winter vein, with highlight intercepts including 23.59 grams per tonne gold and 359 grams per tonne silver over 2.49 metres. Portal construction is planned to start in the second half of 2026, and the drilling aims to support potential conversion of Inferred Resources to Indicated Resources.
First Majestic Silver CorpFirst Majestic received permits and committed $12M for portal construction at Navidad, advancing the project.
Organon & CoOrogen holds a 2% NSR royalty on Navidad; permitting and drilling progress enhances royalty value.