As we approach the New Year we would like to take this opportunity to thank you for your continued support…
Vancouver, BC, August 30, 2022. Origen Resources Inc. (the “Company” or “Origen”) (CSE:ORGN; FSE:4VXA) is pleased to provide an update on its inaugural drill program at its 100% owned LGM property (“LGM” or the “Property”) located in the heart of the Golden Triangle in northwest B.C.
Drill Program Highlights
- Five drill holes completed from three pads located at the Hidden Gold, LULU and Long Ridge target areas
- All drill holes successfully intersected targeted zones
- Favourable alteration and mineralization intersected in all holes
- Favourable Copper Mountain intrusive suite observed in drill core
LGM Property Highlights
- New district-scale copper-molybdenum porphyry target in the heart of the Golden Triangle
- Priority gold target in addition to adjacent copper-molybdenum porphyry target
- Coincident geochemical, geophysical and alteration anomalies is the focus of drilling
- All drill targets are shallow and have never been drill tested
- Highly anomalous rhenium values in soil; usually associated with molybdenum mineralization
- Close proximity to infrastructure, roads and airstrip
“We are excited about how much new information the drilling has provided so far this season and are eagerly awaiting assay results. Having the Copper Mountain intrusive suite, which is present in well-known nearby deposits, in our drill core is a very exciting development and further strengthens our confidence that the LGM property is an important new story in the Golden Triangle,” states Blake Morgan, Company President.
To date five drill holes have been completed from three drill pads. One pad was positioned to test below the Hidden Gold target, where 13 talus/soil samples returned between 0.014 and 1.73 ppm Au (8 samples ≥ 0.094 ppm Au) over 260 metres along a ridge crest. Two holes tested underneath this gold anomaly and intersected a series of polyphase breccia zones below the anomaly. Samples from these breccias are being sent to the MSA Labs facility in Val D’Or for photon assay which uses an X-ray activation method to analyse between 350 and 500 g of coarse crushed material. This method replaces fire assay with a lower emissions method and, due to the large size and coarse crush of the sample, effectively removes the need for additional screening and assay for coarse gold. The remaining samples from the program are being sent to MSA Labs facility in Terrace and Langley, BC for sample prep and analysis by fire assay and multi-element aqua regia digestion.
Two drill holes were drilled in opposite directions from a pad on the main LULU Cu-Mo porphyry target. One hole targeted below a molybdenum – rhenium geochemical anomaly and intersected a broad mineralized structure believed to be related to the Mo-Re anomaly. The other hole tested under a copper anomaly. Both holes were within the stronger alteration pattern identified from ASTER satellite images and drill core confirmed that intense alteration is present in the subsurface.
The fifth drill hole was positioned at one end of the Long Ridge molybdenum – rhenium anomaly in talus fines. This anomaly is interpreted to parallel the same structure intersected from the previous LULU pad. The drill hole was targeted to both intersect this structure and penetrate an EM conductor identified in the 2021 airborne geophysical survey. The drill hole intersected both targets, as well as a significant amount of platy feldspar porphyry dykes/sills. The hole ended in an intrusive, polymictic breccia with disseminated pyrite and pyrrhotite in the matrix that may correspond to the EM conductor. The conductor is primarily vertical in extent and at 125 m below surface depth is approximate 800 x 1200m in horizontal extent. Hole LL22-005 was terminated at 382.22m due to constraints of the program and the drill casing was capped and left in place for possible future re-entry to further test the EM conductor.
Figure 1: LGM Airborne Geophysical Compilation with Copper in Soil and Aster Anomalies
John Harrop, P.Geo. (EGBC No. 19122), 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. who was contracted by the Company to implement the 2022 fieldwork. 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 in the mineral rich Golden Triangle of British Columbia, a 100% interest in both the Middle Ridge gold project and 20 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.