Positive Results from Geophysical Surveying at Tri Origin's Red Lake Extension Property
21.05.2013 | FSCwire
Aurora, May 21, 2013 - Tri Origin Exploration Ltd. (TOE - TSX Venture), ("Tri Origin" or the "Company") is pleased to announce that positive results were received from a first phase of 2013 Induced Polarization ("IP") and magnetic surveying completed at its 100%-owned Red Lake Extension ("RLX") property at Red Lake, Ontario. A number of promising geophysical anomalies were delineated within a small area surveyed at the northeast part of the property. This is significant because this previously unexplored area was interpreted by the Company to be underlain by extensions to the important gold-deposit host rocks of the Red Lake District. These geophysical results add credibility to this interpretation.RLX is now subject to an earn-in option agreement with Osisko Mining Corporation ("Osisko") which committed to a second year renewal of the agreement during February 2013. Osisko has the option to earn a 51% interest in RLX by fully funding a total of $5 million of exploration over a four year period. Tri Origin will continue to manage the second year of the program.
The timing and budget for the next phase of field work will be submitted to Osisko for consideration. Shareholders will be notified of anticipated start-up dates for future programs upon approval by Osisko.
RLX is a gold exploration project covering an area of 141 square kilometres located at the southeast part of the Red Lake Gold Mining District contiguous with Goldcorp Inc.'s Red Lake Mine property. The highly prolific Red Lake District hosts major operating and past-producing gold mines and has produced over 20 million ounces of gold.
For further information, please refer to the Company's website www.triorigin.com or SEDAR www.sedar.com or contact:
Dr Robert Valliant, President
Tri Origin Exploration Ltd.
Tel: (905) 727-1779
E-mail: explore@triorigin.com
Tri Origin Exploration Ltd. is a leading Canadian gold and base metal exploration company trading on the TSX Venture exchange under the symbol TOE. Tri Origin has leveraged exposure to mineral discoveries in Australia through its equity interest in TriAusMin Limited which holds gold and base metal resource-based assets in New South Wales.