Origen Resources Inc. to Drill the LGM Property in the Golden Triangle This Summer
Vancouver, June 7, 2022 - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce 2022 drill plans for its 100% owned LGM property ("LGM" or "Property") located in the heart of the Golden Triangle in northwest B.C. Property Highlights
- New district-scale copper-molybdenum porphyry target in the heart of the Golden Triangle
- Coincident geochemical and geophysical anomalies to be the focus of drilling
- All drill targets are shallow and have never been drilled tested
- Highly anomalous rhenium values; usually associated with molybdenum mineralization
- Priority gold target peripheral to the copper-molybdenum porphyry target
- Close proximity to infrastructure, roads and airstrip
- Drilling set to commence in the coming weeks
"The entire Origen team is incredibly excited to get the drill turning on some of the best, never before drilled porphyry targets in the Golden Triangle. These targets are the result of many years of systematic field work and have the real potential to deliver a world-class discovery. With district-scale potential and major players like Teck and Newmont next door,the Origen team is thrilled to begin its phase 1 drill campaign," states Blake Morgan, Company President.
The Company has entered into key service contracts with Tahltan Nation Development Corporation (TNDC) affiliated contractors and have all of the necessary personnel and equipment secured to execute on a minimum 2,500 metre drill program.
Three priority areas in the 4 km by 5km district-scale Lulu porphyry area ("Lulu") are planned to be drilled during the upcoming program, set to commence within the coming weeks. The targets exhibit geochemical and geophysical similarities to other large nearby porphyry deposits and encompasses multiple high-priority prospects of which the Long Ridge, Hidden Gold and the Lulu core targets will be tested in this program.
Modelling of the magnetics and VTEM geophysical surveys flown last summer has upgraded the potential and priority ranking for both the copper-molybdenum-rhenium Long Ridge and the Hidden Gold zones. The geophysics has revealed coincident magnetic and EM conductivity features that closely overlap the Long Ridge surface geochemical anomaly, making for a very compelling drill target. In addition, the geophysical features extend to the north of Long Ridge into an unexplored area, indicating a larger target than currently expressed by the geochemical anomaly. At the Hidden Gold zone, geophysical interpretation has highlighted potential structural controls, and the geophysics displays a larger target corridor underlying the zone than currently defined by the surface geochemical anomaly.
Figure 1: LGM Airborne Geophysical compilation with copper in soil and Aster Anomalies
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7117/126656_b98959ddd4a8d9fa_001full.jpg
Long Ridge Copper-Molybdenum-Silver-Rhenium Zone
A 600-metre-long copper-molybdenum-rhenium anomaly, defined by 25 consecutive highly anomalous talus fines samples, was discovered in 2020, 750 metres to the west of the historical Noranda sampling and significantly extended the Lulu porphyry target area. 2020 field work at this location returned values of 101.5 parts per million to 293.1 parts per million copper, 19.2 parts per million to 114.6 parts per million molybdenum and less than 0.005 part per million to 0.127 part per million rhenium.
Hidden Gold Zone
The Hidden Gold zone is a gold and silver geochemical anomaly located in the northeastern Lulu porphyry target area. Consistently elevated gold and silver results were obtained on two adjacent reconnaissance sampling lines, with two samples returning grades in soil of 1.8 grams per tonne gold with 4.2 grams per tonne silver and 1.7 grams per tonne gold with 5.3 grams per tonne silver. The anomaly is believed to be located close to the source as both sample lines were collected along ridges, with the northernmost line paralleling the edge of a receding glacier, limiting the distance and direction of mechanical mineral transport. The anomaly remains open in two directions -- to the southwest and to the northeast under snow cover -- and currently covers an area of 400 metres by 200 metres.
Gold results ranged from less than 0.001 gram per tonne to 1.8 grams per tonne and silver values from 0.11 gram per tonne to 5.3 grams per tonne at the Hidden Gold zone.
Quality Assurance, Quality Control and Laboratory Methods
Origen fieldwork followed industry-standard practices for the collection of talus fines and immature soils during the 2020 phase 2 program. No field duplicate samples of talus fines/soils were collected and no standards or blanks were inserted since this is not considered necessary or best practice for this sample media.
MSALABS of Langley and Terrace, B.C., Canada, is a certified analytical laboratory (ISO 9001 and ISO 17025) with experience in the chemical analysis of geological materials. MSALABS is independent of the company, as defined by National Instrument 43-101. Samples were delivered to the laboratory by an employee of Coast Mountain Geological Ltd., which was contracted to implement the field program for the company.
Talus fines and soil samples were processed by drying, screening to less than 80 mesh (MSA code PRP-757, PSC-110), digestion of a 20-gram cut by aqua regia and finishing by 39-element ICP-AES/MS (MSA code IMS-128). Samples with greater than 0.5 part per million gold were reanalyzed if sufficient sample remained using a 30-gram cut for digestion by fire assay flux followed by an AA finish (MSA code FAS-211).
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.
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 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,
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.