NewOrigin Gold Receives Drill Permit for its Sky Lake Gold Property
Toronto, December 7, 2021 - NewOrigin Gold Corp. (TSXV:NEWO) (OTC:TROIF) has received a drill permit for its Sky Lake gold property on November 30, 2021. Sky Lake is NewOrigins's flagship gold property. The drill permit is effective for a three year term and covers the historic Koval gold zone where NewOrigin has an earn-in with Barrick in addition to west and east extensions on strike of Koval owned 100% by NewOrigin. Permit delays due to Covid 19 are being resolved as Northern Ontario communities emerge from the pandemic. NewOrigin remains actively engaged with local First Nation communities to establish an "Early Exploration Agreement" at Sky Lake in order to responsibly move forward with a drill program. The Company is currently drilling at its North Abitibi gold project and will await assay results before proceeding with a decision to resume exploration at Sky Lake. "With drill permitting in place at Sky Lake, NewOrigin is contemplating a summer 2022 drill program designed to test the historic Koval zone, and for extensions along strike to the east and west. With the lifting of Covid 19 restrictions, NewOrigin is now able to engage in more meaningful discussions with local First Nation communities at Sky Lake, in order to plan this proposed program." commented David Farquharson, President of NewOrigin.
Sky Lake Gold Project
The 9,100 hectare Sky Lake Project is a 27 km long property on the south east end of the Pickle Lake gold district. NewOrigin Gold is initially targeting drilling in the historic Koval zone and along strike to the east and west. The Koval Zone has not seen any drilling since the 1990s. Historical drill results from the Koval Zone include: 6.26 grams/tonne gold ("g/t Au") over 22.7 metres ("m"), including 8.78 g/t Au over 16.0 m within 100 m of surface. NewOrigin aims to prove up a Tier 1 gold deposit at Sky Lake.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin Exploration Ltd.) is a Canadian gold exploration company focused on drill discovery on its North Abitibi and Sky Lake gold projects in the Canadian Shield. NewOrigin's management and board have extensive experience in the delineation and development of gold deposits. Company shareholders include O3 Mining Inc. and Osisko Mining Inc. NewOrigin Gold trades on the TSX Venture Exchange under the ticker "NEWO".
For Further Information Contact:
David Farquharson, President
M: 416-662-4183 or visit www.neworigingold.com
Cautionary Statement regarding Forward Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the intention to complete the foregoing, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company's ability to obtain all approvals required in connection with the foregoing, the Company's ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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