Vancouver, October 18, 2021 - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce that it has staked an additional claim block covering approximately 3,500 hectares within the Newfoundland Lithium Belt. This brings the Company's total holdings to over 37,000 hectares in this newly identified and highly prospective lithium corridor.
These new claims are located adjacent to Sokoman Minerals Corp. and Benton Resources Inc.'s Golden Hope Joint Venture. Recent announcements by the companies reported high grade lithium values in grab samples taken from pegmatite dykes on their project. Origen's newly staked claims contain the following key characteristics as identified in the Company's earlier acquisitions that are indicative of lithium rich pegmatites:
- Similar tectonic setting to Kings Mountain and lithium pegmatite occurrences in Ireland;
- Age of the associated granite intrusive;
- Areas known for pegmatite occurrences;
- Highly favorable geochemical pathfinders;
"We are extremely excited about this acquisition, in a now proven lithium region. The team has worked tirelessly compiling the data out of Newfoundland and we are thrilled to acquire such a prospective asset. The recent announcement of the discovery of lithium bearing pegmatites on an adjacent claim block validates the prospectively of our existing land package and motivated us to acquire more claims in the area. We are eagerly awaiting the receipt of our work permits as fieldwork is planned to begin shortly. With Ganfeng Lithium already owning a 4.3% stake in the Company, Origen is in a prime position to increase value for our shareholders," states Company President, Blake Morgan.
Figure 1: Location of Newly Staked Ground
To view an enhanced version of Figure 1, please visit:
The Company intends to mobilize crews into the region within the next few weeks to commence mapping, prospecting and geochemical sampling over its new holdings. The immediate goal is to define our priority target areas in this new prospective lithium belt by applying exploration techniques developed over the last two decades on the Avalonia (Leinster) pegmatite belt in Ireland. In addition to bringing priority targets to drill readiness on the Company's existing properties, the Company's technical team will continue to employ their extensive experience and knowledge to identify new prospective targets within this burgeoning lithium district.
About the Newfoundland Lithium Belt
The Newfoundland Lithium Belt exhibits all of the characteristics of a major lithium rich corridor as observed in Ireland and the Carolinas. There are key indicative signs that point to specific target areas with high expectations for the discovery of lithium rich pegmatites. Numerous occurrences of pegmatites have been observed that exhibit highly-favorable lithium-cesium-tantalum ("LCT") geochemical signatures. Mapping of the geochemical pathfinders for lithium has revealed distinct vectors that have guided the Company to focus in on the more prospective areas and acquire a commanding land position in this new belt.
These geochemical pathfinders, on a regional scale, reveal a distinct corridor that transects Newfoundland and corresponds to the tectonic suture zone hosting the world-class Carolina Tin-Spodumene Belt and the lithium pegmatite occurrences in Ireland that have received significant attention in recent years. In addition, the age of the associated parent granites observed in Newfoundland coincides with the 'sweet spot' occurrence of highly favorable lithium rich pegmatites.
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. Mr. Harrop is employed by Coast Mountain Geological Ltd. He is not independent of the Company as defined in NI 43-101.
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, a 100% interest in 13 lithium prospects in Newfoundland, and a 100% interest in the Los Sapitos Lithium project in Argentina.
On behalf of Origen,
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/99980