Vox Royalty (TSX-V:VOX) Corp has updated investors on recent exploration by partners at four of its royalties and revealed it expects resource upgrades at six projects over the next six months to continue its organic growth.
Vox has built up a portfolio of over 50 royalties and streams in eight jurisdictions and the statement covered news from resource partners Quantum Graphite Ltd, Develop Global Ltd, Silver Mines Ltd and ValOre Metals (TSX-V:VO) Corp.
"This past month's exploration progress caps off a record year of partner-funded exploration on Vox's royalty projects with approximately 170,000 metres drilled across 18 separate projects," said the firm's chief investment officer Spencer Cole.
"Based on operator guidance, Vox management expects resource upgrades will be forthcoming for South Railroad, Bowdens, Sulphur Springs, Pedra Branca, Pitombeiras and Kookynie projects over the next 6 months.
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"2022 is shaping up to be another tremendous year for organic royalty developments at Vox."
Vox holds a 1.5% gross revenue royalty on Quantum's Uley graphite project, where a maiden resource for a new deposit following drilling is awaited.
The company also holds a A$2/tonne production royalty (A$3.7M royalty cap) on Develop's Sulphur Springs copper-zinc deposit and an effective uncapped A$0.80/tonne production royalty on the Kangaroo Caves deposit, which is part of the combined Sulphur Springs asset.
Here, strong infill and exploration drilling results have been reported, said Vox.
Meanwhile, at Silver Mines' Bowdens silver-lead-zinc project, the firm has a 0.85% gross revenue royalty and a 1% gross revenue royalty over surrounding regional exploration tenure.
Here, high-grade drilling results "indicate that the 2022 underground scoping study, which supplements the feasibility-stage open pit project scope that is in final permitting phase, has strong potential to unlock meaningful incremental value for Vox's Bowdens royalty," Vox told investors.
At the Pedra Branca platinum group metals (PGM) project, the largest PGM deposit in South America, according to ValOre, Vox holds a 1% net smelter return royalty (NSR).
Here, resource expansion drilling has paved the way for a resource update in 2022, said Vox.
"Vox management remains highly confident that the Pedra Branca deposit will continue to grow in 2022," it added.
Vox was established in 2014 and since the beginning of 2019, it has announced over 20 separate transactions to acquire over 45 royalties.
Contact the author at giles@proactiveinvestors.com