Vancouver, BC, November 29, 2022. Origen Resources Inc. (the “Company” or “Origen”) (CSE:ORGN; FSE:4VXA) is pleased to announce that it…
As we approach the New Year we would like to take this opportunity to thank you for your continued support and provide a brief update on our operations.
2022 was a busy year for Origen as we advanced a drill program and aligned the company with strategic investors to develop quality lithium and gold assets.
ORGN sold its option to acquire 100% interest in the Middle Ridge Gold Property in Newfoundland to a private entity.
ORGN sold its strategic lithium land package in Newfoundland, a significant portfolio that covers over 33,000 hectares and 20 highly prospective targets that Origen was able to amass as an early mover on the newly identified lithium belt. The private group intends to take the entity public in the next quarter and focus on the development and exploration of the property, which Origen will hold a significant position in.
ORGN optioned its Arlington property to Jessy Ventures, a highly anomalous gold, silver, copper and cobalt project based on sampling and historical production, east of Penticton in south-central British Columbia. Jessy has been granted the exclusive right and option to acquire an undivided 60% interest in and to the Property, consisting of five mineral claims covering 1,571.65 hectares. The Option is earned over a 3 year period.
ORGN intersected the intended target zones at its LGM property in British Columbia with results pending and to be expected early in 2023.
ORGN amended its option agreement to remove timed exploration commitments in order to acquire a 100% interest in the Los Sapitos Lithium Project in Argentina. The Company has also applied to increase its lithium land package in La Rioja Province, Argentina by over 28,000 hectares to bring the Los Sapitos Lithium Project to over 75,000 hectares in size.
- Evidence of three lithium target styles (brine, hot spring and clay hosted) within the Los Sapitos area.
- Of the 12 sites sampled, four of these contained clay mineralogy favourable for hosting lithium; three with illite and one with montmorillonite.
- Brine temperatures increase toward the higher lithium values suggesting a hot spring near or as a source of lithium.
- Sites with illite clay signatures have significantly higher lithium by strong acid digestion.
In the upcoming year our team will focus on advancing the Argentina lithium property which will involve extensive mapping, sampling and geophysics.
In addition the Company plans an aggressive exploration program to advance new targets on the LGM property in British Columbia.
We look forward to working with all our stakeholders and partners as we continue to build shareholder value in the New Year and wish you and your loved ones a Merry Christmas and prosperous 2023!
Origen Resources, CEO
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.