Seabridge Gold Inc. (NYSE: SA) has agreed to acquire a 100% interest in the Slaughterhouse Project in southern Wyoming from Orogen Royalties Inc., according to a company press release.

The purchase price is $300,000, with additional milestone payments of up to $2.55 million tied to specific exploration goals. Orogen will retain a 2.5% net smelter return royalty on existing claims and a 0.5% to 1% royalty within a broader area of mutual interest. The transaction is subject to customary closing conditions.

The acquisition includes 163 U.S. mining claims, geophysical survey results, geological mapping, sampling data, and prospect evaluations previously compiled by Orogen over several years.

The project targets what the company describes as a hematite iron oxide copper-gold, or IOCG, deposit type. Seabridge Senior Vice President of Exploration Bill Threlkeld noted that "IOCG deposits are highly prized because they can offer superior grades compared to porphyry deposits including concentrations of critical minerals."

Southern Wyoming has a history of copper and gold mineralization, though the company states the region has not received comprehensive modern exploration work to fully characterize its mineral potential.

Seabridge holds 100% interests in several North American gold projects, with principal assets including the KSM and Bronson Corridor projects in British Columbia, the Snowstorm project in Nevada, and the 3 Aces project in the Yukon.