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Origen Resources Inc.
Origen Resources Inc.
Registriert in: Kanada WKN: A3CRA4 Rohstoffe:
Art: Originalaktie ISIN: CA68622Y1007 Gold
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Heimatbörse: CSE Alternativ:
Währung: CAD    
Symbol: ORGN.CSE Forum:

Origen Discovers Large Magnetic and VTEM Anomaly at the LGM Property in the Golden Triangle

29.09.2021 | 15:00 Uhr | Newsfile

Vancouver, September 29, 2021 - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce that it has now received the data from the recently completed VTEM geophysical survey conducted by Geotech Ltd. on its LGM property ("LGM" or "Property") located in the heart of the Golden Triangle in northwest B.C.

"The results of the airborne geophysical survey exceeded our expectations. After strongly encouraging geochemical results in 2020, our 2021 survey has added a new dimension to the project as we look deeper and extend existing targets," states Blake Morgan, Company President.

The district-scale Lulu Porphyry Target Area ("Lulu") stretches over a 4 km by 5 km area and exhibits geochemical similarities to other large nearby porphyry deposits. Lulu encompasses multiple high-priority prospects such as Nulu, Lucifer and the newly discovered Long Ridge and Hidden Gold zones (Company news release dated March 3, 2021).

Modelling of the magnetics and VTEM geophysical surveys flown this summer, by Geotech Airborne Geophysical Surveys of Aurora Ontario, 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 which translates into a 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.

The geophysical interpretation also indicates potential structural controls to the Lulu prospects. This has improved the potential of the Hidden Gold zone with the geophysics displaying a larger target corridor underlying the Hidden Gold zone than currently defined by the geochemical anomaly.

This new information combined with the geochemical anomalies identified in 2020 have resulted in the emergence of multiple high-priority target areas. The Company's next steps will be to refine the target areas in preparation for drill testing. Geotech has been retained to conduct additional processing and interpretation of the magnetics and VTEM data to assist with the refining of the target zones.



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/7117/97976_003ad8f254cc3a53_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 is situated in the northwest of the Lulu porphyry target area. This recently discovered anomalous extension to the historical work 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, PGeo, 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/97976

 
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