NewOrigin Gold Commences Field Program at its Sky Lake Gold Project
Toronto, September 14, 2022 - NewOrigin Gold Corp. (TSXV:NEWO) (OTC:TROIF) has initiated a geological program at its Sky Lake Gold Project in northwestern Ontario. NewOrigin's Sky Lake Gold Project covers 9,100 hectares and is located 25 kilometres southwest of the Pickle Lake gold mining district. In November of 2021 NewOrigin acquired 100% interest in the Koval patented claims from Barrick Gold and also received a three-year permit to carry out drilling. In February of 2022 NewOrigin renewed its Exploration Permit to conduct surface exploration, also valid for 3 years. The Company is now proceeding with its goal of establishing a gold resource on its Sky Lake Gold Project. The current field work consists of geological mapping, soil sampling and drill site reconnaissance. Geological mapping is focused on identifying possible eastward extensions to the Koval Gold Zone as well as along trend from iron-formation related gold occurrences northeast of the Koval Zone identified almost 40 years ago. Soil sampling is underway to cover these areas and also at other high-priority targets to prioritize them for a preliminary drill program.
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NewOrigin Gold is initially targeting a drill program to confirm and build on the historic resource at the Koval Zone. Drill site reconnaissance is now being carried out in this area with a view to drill testing below known near surface gold mineralization and at depth below historic drilling. In addition, NewOrigin's drill program may also consist of drilling gold-bearing iron formation northeast of Koval which is geologically similar and along trend from the Kasagiminnis gold resource currently being investigated by Ardiden Limited. NewOrigin will await results from soil sampling to determine if drill targets outside of the Koval Zone will make up part of the inaugural drill program.
Sky Lake Project is a 25 kilometre long, camp-scale property in the prolific Red Lake-Uchi Sub-Province of northwestern Ontario. Greenstone belts comprising this sub-province have seen production and discoveries of over 40 million ounces ("M oz") of gold including; Evolution Gold's Red Lake Mine (~25 M oz),the recent LP Fault discovery (pre-resource) on Great Bear Resources' Dixie property and the nearby Pickle Lake District and surrounding deposits hosting over 3 M oz of gold. Sky Lake shares a similar geological environment to these important gold mining centers and discoveries.
Throughout 2022, NewOrigin has been working diligently to complete an arrangement for the benefit of the nearby Mishkeegogamang Ojibway community. This work is progressing and the Company would like to thank members of the Mishkeegogamang community for their engagement, positive support and continued interaction toward building a long-term relationship.
Technical Information
Technical information in this press release was reviewed by Mr. Mark Petersen, P. Geo., He is a Qualified Person as defined by National Instrument 43-101.
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. NewOrigin Gold trades on the TSX Venture Exchange under the ticker "NEWO".
For Further Information Contact:
Andrew Thomson, CEO
Phone: (905) 727-1779 or visit www.neworigingold.com
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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.