Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) (‘Vox’ or the ‘Company’), a returns focused precious metals royalty company, is pleased to provide recent development and exploration updates from royalty operating partners Northern Star Resources Limited, Jangada Mines plc, Black Cat Syndicate Limited (ASX: BC8) (‘Black Cat’), and Gold Standard Ventures Corp. (TSX: GSV) (‘Gold Standard Ventures’).
Spencer Cole, Chief Investment Officer stated: ‘The Vox portfolio has continued to rapidly develop through drilling, engineering and pre-stripping over the past month, with a key highlight being commencement of mining activities at the Otto Bore gold project by Northern Star. The robust economics of the Pitombeiras Vanadium technical report continue to support Vox management’s confidence around this exciting vanadium project. We eagerly anticipate the outcomes of Black Cat’s toll milling tender at the Bulong project, with potential to commence mining at the high grade royalty-linked Myhree deposit in late 2022. Based on these updates we expect multiple construction decisions in the second half of 2022 which will unlock incremental royalty revenue for 2023 and beyond.’
Key Development Updates
Pre-stripping and open pit mining preparation commencement at the Otto Bore gold project by Northern Star; Updated feasibility-level engineering technical report for the Pitombeiras vanadium project by Jangada; Acquisition of Paulsens gold mine by Black Cat, reprioritizing Vox’s Merlin and Electric Dingo gold royalty projects and an update on Bulong development timing and 5,700m drilling planned by Gold Standard Ventures at Railroad Pinion gold project in Nevada from May 2022 onwards, with a second stage exploration program to be completed in the Fall and Winter of 2022.
Otto Bore (Development – Australia) – Pre-Stripping and Open Pit Mining Preparation Commencement
Vox holds a 2.5% net smelter return royalty (between 42koz – 100koz cumulative production) over the Otto Bore gold project in Western Australia, acquired in conjunction with the producing Janet Ivy / Binduli North gold royalty in March 2021; On April 27, 2022 and May 3, 2022, Northern Star announced that: Preparation for open pit mining operations at the Otto Bore deposit have commenced, confirmed by open pit pre-stripping observed by Vox management via satellite imagery; All required environment studies have been completed and relevant vegetation clearance and a dewatering permit has been granted. The Mining Proposal has been approved, however it will be revised and resubmitted to accommodate extension of the new reserve pit; An average gold recovery for the Otto Bore deposit is estimated at 94% based on met testwork and ongoing long term actual average recovery data collected at the Thunderbox plant. Metallurgical testwork has been carried out on samples from the Otto Bore deposit by processing and test lab, with suggested recoveries could go as high as 97% hence the estimated recovery is in line with expectation and Northern Star is currently exploring proximal to the Otto Bore deposit and is working on an exploration program which will test the lateral and down dip extents of the Otto Bore mineral resource.
Vox Management Summary: The Otto Bore royalty was acquired for a small fraction of the purchase price in Vox’s March 2021 royalty portfolio transaction with Horizon Minerals, with the majority of the purchase price allocated to the Janet Ivy gold royalty (which is the subject of a major A$462M expansion by Zijin Mining). Otto Bore has been fast-tracked by Northern Star ahead of Vox management expectations and is now expected to generate attractive revenues for Vox shareholders in 2023.
Jason Attew, President and CEO commented: ‘The focus of this year’s program is to test for oxide mineralization extensions at Pinion with the goal of enhancing the size of the Pinion pit and further extending the project life.’
Vox Management Summary: 2022 drilling at the royalty-linked Pinion SB Zone is expected to increase mineral resources in late 2022 and ultimately support longer-life royalty revenues for Vox shareholders. Gold Standard Ventures management is still targeting first production in mid-2024 for this exciting Nevada gold project.
About Vox
Vox is a returns focused precious metals royalty company with a portfolio of over 50 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest risk-adjusted returns in the mining royalty sector. Since the beginning of 2020, Vox has announced over 20 separate transactions to acquire over 45 royalties.
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