Orogen Royalties Inc. has acquired two gold exploration projects in southwest Utah through an alliance backed by Triple Flag Precious Metals, the company said on Wednesday.
The Toronto-based royalty firm purchased the Toro de Oro and El Gigante prospects, located within underexplored caldera complexes near Modena, Utah. Toro de Oro sits 30 kilometers northeast of the town, while El Gigante is positioned 4.0 kilometers to the north. Neither property has been drill-tested to date.
Toro de Oro covers approximately 8.6 square kilometers across BLM claims and a Utah State mineral lease, featuring advanced argillic alteration and chalcedony veins. El Gigante spans about 3.4 square kilometers of BLM claims and hosts two sub-parallel quartz veins at surface, each measuring 350 meters in length and up to 3.0 meters in width. Surface vein sampling at El Gigante returned assays as high as 101 parts per billion gold.
The acquisition follows Orogen’s existing royalty portfolio, which includes a 2.0% net smelter return royalty on the Ermitaño gold and silver mine in Sonora, Mexico, operated by First Majestic Silver Corp. Orogen said it applied discovery-proven epithermal exploration strategies—developed in Nevada and Sonora—to the Utah projects as part of the alliance with Triple Flag.
The company plans to present the newly acquired projects at its third annual Project Generator Day on September 16, 2026. Financial terms of the acquisition were not disclosed.
