Vox Royalty Corp. (TSX-V: VOX) a high growth precious metals focused royalty company, is pleased to announce that it has executed binding agreements with Titan Minerals Limited (ASX: TTM) to acquire four Peruvian gold, silver, and copper royalties for total cash consideration of US$1,000,000. In addition, Titan will pay Vox US$1,000,000 in cash pursuant to the terms of an agreement between Vox’s subsidiary, SilverStream SEZC, and a subsidiary of Titan, Mantle Mining Peru S.A.C. The amount paid by Titan to the Company was previously recorded as a non-current accounts receivable balance.
The Royalty Portfolio comprises a 3% gross revenue royalty over each of the Cart Project, the Colossus Project, the Jaw Project, and the Phoebe Project. Each of the Projects is operated by Titan.
Spencer Cole, Chief Investment Officer stated: “We are pleased to close out this legacy receivable from Titan and to add four highly prospective Peruvian exploration royalties to our portfolio. The royalty tenure is located in geological ‘elephant country’ proximate to numerous world class orebodies. Titan is targeting large-scale porphyry, skarn and volcanogenic massive sulphide style deposits which if successful could create substantial returns for Vox shareholders over the long term.”
The Phoebe Project is located 500km east of Lima. The tenure is underlain by intercalated limestone, siltstone and sandstone units which have been intruded by a dioritic-monzogranitic batholith. Field verification has confirmed the presence of outcropping mineralisation which is strongly indicative of being in the low temperature halo of a copper-molybdenum porphyry system (which accounts for a large proportion of global copper and molybdenum supplies). The next phase of exploration will include geological mapping, soil sampling and helicopter geophysical surveys (which subject to further review could include electromagnetics, magnetics and radiometrics).
The Cart Project is located 200km east of Lima. The area is underlain by Mesozoic and Miocene age andesites which are highly prospective for high-sulphidation epithermal gold deposits. Aster and Landsat studies have identified multiple zones of argillic and propylitic alteration which have been validated by field reconnaissance. Titan will focus on identifying zones of structural or lithological complexity through a combination of stream sediment sampling and airborne magnetic surveys.
The Colossus Project is located 560km northeast of Lima. Geologically, the tenure is underlain by the Pucara Group marine sediments which hosts the San Vicente and Yauli Group (Zn, Pb, Ag) Mines which are operated by Compañía Minera San Ignacio de Morococha S.A.A. and Volcan Compañía Minera, respectively. The target area is prospective for both Volcanogenic Massive Sulfide and Mississippi Valley Type base and precious metal deposits. Planned field work will focus on geological mapping and trenching.
The Jaw Project is located 800km southeast of Lima. The project area is underlain by Pliocene to Miocene age volcanic rocks which based on Aster and LandSat studies and a review of historical workings, holds potential for gold-bearing skarn deposits. Titan will through a programme of field mapping and soil sampling look to generate and prioritise targets for follow-up.
Closing of the Transaction is expected to occur in Q3 2021. Closing of the Transaction will occur following satisfaction of customary conditions. Vox will use current cash on hand to fund the payment of the aggregate purchase price for the Royalty Portfolio.
Timothy J. Strong, MIMMM, of Kangari Consulting Limited and a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.
Vox is a growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning nine 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 become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.
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