Origen Resources Options Arlington Property to Jessy Ventures
Vancouver, September 23, 2021 - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce that it has entered into an agreement with Jessy Ventures Corp. ("Jessy Ventures") (TSXV: SARG.P), to acquire a 60% interest in its Arlington property ("Property") located 17km north of Beaverdell, BC. Jessy Ventures intends on using the Arlington property as its qualifying transaction to obtain a full TSX-V listing.
"The business plan adopted at the Company's inception, of partnering with capable groups to advance certain assets, is starting to gain momentum. The signing of this option agreement with Jessy Ventures is yet another successful execution towards generating increased value for our shareholders," states Blake Morgan, President.
Option Terms
Jessy Ventures can earn a 60% interest in the Arlington property by paying Origen a total of $185,000, issuing 2 million shares and incurring work expenditures of $750,000 over a 3 year period. Jessy Ventures is also required to reimburse Origen the costs they have incurred on the recently completed exploration program conducted on the newly acquired Fresh Pot claims totalling approximately $110,000.
About the Arlington Property
The Arlington property is located 17 km north of Beaverdell and 67 km south of Kelowna within the Arrow Boundary District of south-central British Columbia. The Property consists of five (5) mineral claims covering 1,572 hectares that cover geologically prospective ground immediately north of the historic Beaverdell and Carmi mines, the sites of two landmark BC mining camps operational in the late 1800s/early 1900s. The success in the Beaverdell and Carmi mining camps was a key driver in the early identification of and discoveries on the Property. The Property hosts numerous Minfile occurrences identified as structurally controlled polymetallic Ag-Cu-Pb-Zn +/- Au veins including a series of historical mine workings.
Recent work programs comprised geochemical, mapping and prospecting surveys, and a MAG-VLF geophysical survey. The results were very encouraging.
The mineralization observed at surface, including two grab samples that returned assays grading 221 g/t silver and 11.7 g/t gold*, in conjunction with a thorough geological and geophysical interpretation, indicate that the polymetallic mineral occurrences have the potential for considerable subsurface continuity between the showings.
This increased appreciation for the potential of the Property prompted the expansion of the Property with the acquisition of two adjacent claims (Company News Release dated April 19, 2021).
The 2021 summer field program focused on the contiguous newly acquired ground with complete coverage by prospecting, soil sampling and a ground magnetic survey.
Several trenches, open cuts, adits and a shaft were located during the prospecting program. Rock grab sample results returned anomalous values in Au (0.001 to 1.85ppm), Ag (<0.2 to 10,001ppm), Co (4.0 to 249.8ppm) and Cu (38.7 to 1118.3ppm)*.
A review of the geochemical results exhibits anomalous results for Ag ( 0.1 to 1.33ppm), Au (0.001-0.295ppm), Cu (2.5 to 1131.4ppm), As (0.9 to 975.7ppm) and Co (2.3 to 98.5ppm)*. Plots of the 80, 90 and 95 percentile values for these elements roughly describes a circular to semi circular pattern of anomalous values wrapping around a barren core which may suggest a buried intrusive feature. The circular feature described by the anomalous results roughly measures 500m in size.
Results are pending for the magnetic survey recently completed over the established grid.
* Grab samples are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the project.
All of the rock and soil samples collected during the 2021 field program were securely stored at Coast Mountain Geological Ltd.'s field facilities and were hand delivered by Coast Mountain Geological Ltd staff to MS Analytical Services in Langley BC for Multi element ICP-AES/MS, ultra trace level analysis for both rock and soil samples. MS Analytical is an ISO 9001 and ISO/IEC17025 certified commercial laboratory. MS Analytical is a Canadian company with over 25 years of experience analyzing geological material and is independent of the issuer and the vendor.
The submitted soil samples were dried at the lab and then screened to -80 mesh size. The undersized fraction was analyzed and the oversize fraction is discarded. The soil samples were analyzed using MS Analytical package ICP-IMS-117 (39 element) trace level analysis with dilute aqua regia.
The submitted rock samples were first crushed to 70% passing 2mm, and then a representative split is taken and pulverized to 85% passing 75µm. The pulverized rock samples were analyzed using MS Analytical package ICP-IMS-111 (51 elements) Ultra trace level analysis with dilute aqua regia.
Richard Kemp, 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.
About Origen
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 and a 100% interest in 15 lithium prospects in Newfoundland.
On behalf of Origen,
Blake Morgan
President
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97422