Vancouver, BC, November 8, 2021. Origen Resources Inc. (the “Company” or “Origen”) (CSE:ORGN; FSE:4VXA) is pleased to announce that it…
Vancouver, BC, October 25, 2021. Origen Resources Inc. (the “Company” or “Origen”) (CSE:ORGN; FSE:4VXA) is pleased to announce that it has now received the final airborne results for its Middle Ridge project in Newfoundland. Exploration crews are being mobilized to follow-up on the numerous and extensive anomalies identified in the survey.
- Survey located deep seated structure important in formation of orogenic gold deposits;
- Strong magnetic correlation with known quartz veins and surface mineral showings analogous to other orogenic gold discoveries in the region;
- VTEM confirms prospective zone over 30 km in length; and
- Tectonic setting conducive to both orogenic gold and lithium pegmatite discoveries.
“The Origen team is thrilled with these results. Over the last 12 months the company has put itself in an outstanding position to create value for its shareholders. We expect this to continue as we move towards drilling these high priority assets,” states Company President Blake Morgan.
Middle Ridge Gold Airborne
An 867 line-kilometre helicopter-borne VTEM (Versatile Time-domain Electromagnetic) and magnetics survey was conducted by Geotech Ltd. of Aurora, Ontario over the project area to identify prospective targets for orogenic gold deposits. A prominent 30 km long VTEM anomaly was traced across the Property. This anomaly is interpreted as a deep-seated structure where the Gander Zone and Exploits Subzone meet and is indicative of a setting favorable for the formation of orogenic gold deposits.
“The airborne geophysical survey has been a success, adding a new dimension to our understanding of the Property. Specifically, this includes evidence of the Exploits-Gander boundary trace, an important deep seated tectonic structure that along with other important prospectivity features for orogenic gold targeting supports immediate follow-up. There are also a number of complementary cross cutting and secondary structures visible in the survey map products that will contribute to prioritizing follow-up work,” states Gary Schellenberg CEO of the Company.
In addition to the gold prospectivity, the property hosts large areas of Middle Ridge granite that is believed to be the right age and within a favorable tectonic structural environment for the emplacement of lithium bearing pegmatites.
Crews will focus on till sampling, prospecting, and mapping along the trace of the 30 km long deep-seated structure.
In parallel, the Middle Ridge program crews will also be conducting regional till sampling programs, prospecting, mapping, sampling and evaluation of known pegmatites on the Company’s Lithium assets in Newfoundland. The immediate goal is to further define our target areas in this new prospective lithium belt by applying exploration techniques developed over the last two decades on the Avalonia (Leinster) pegmatite belt in Ireland. The Company is applying experience from Ireland and North America in district-scale pegmatite zoning to focus these efforts.
About Newfoundland Lithium Belt
The Newfoundland Lithium Belt exhibits all the characteristics of a major lithium rich corridor as observed in Ireland and the Carolinas. There are key indicative signs that point to specific target areas with high expectations for the discovery of lithium rich pegmatites. Numerous occurrences of pegmatites have been observed that exhibit highly-favorable lithium-cesium-tantalum (“LCT”) geochemical signatures. Mapping of the geochemical pathfinders for lithium has revealed distinct vectors that have guided the Company to focus in on the more prospective areas and acquire a commanding land position in this new belt.
These geochemical pathfinders, on a regional scale, reveal a distinct corridor that transects Newfoundland and corresponds to the tectonic suture zone hosting the world-class Carolina Tin-Spodumene Belt and the lithium pegmatite occurrences in Ireland that have received significant attention in recent years. In addition, the age of the associated parent granites observed in Newfoundland coincides with the ‘sweet spot’ occurrence of highly-favorable lithium rich pegmatites.
About Middle Ridge
This large property (7,875 ha) is located in the heart of the new Newfoundland Gold Rush. It occurs near a major deep crustal fault that potentially has tapped gold bearing hydrothermal fluids and provided a plumbing system towards the surface. Gold, silver and base metal lake sediment anomalies identified by Noranda in the 1990s suggests a fertile gold environment. New Found Gold’s (TSXV-NFG) extensive land package containing their exciting Keats Zone gold discovery on the Queensway Project lies approximately 50 km to the north of the property.
John Harrop, P Geo., a Qualified Person as that term is defined in NI 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure in the news release. Mr. Harrop is employed by Coast Mountain Geological Ltd. He is not independent of the Company as defined in NI 43-101.
Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia, a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia, a 100% interest in the Middle Ridge gold project, a 100% interest in 13 lithium prospects in Newfoundland and a 100% interest in the Los Sapitos Lithium project in Argentina.
On behalf of Origen,
For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.