Vancouver, British Columbia--(Newsfile Corp. - April 12, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the "Company" or "Origen") is pleased to announce that it has been granted a five-year area-based exploration and drilling permit for its LGM property ("LGM" or "Property") located in the heart of the Golden Triangle in Northern B.C.
"The results from the 2020 exploration season gave Origen, and our shareholders, an exceptional opportunity for discovery in 2021. With drill permits in hand we are taking the LGM property to the next stage of development this year; drilling high grade gold and kilometer scale copper porphyry targets," states Blake Morgan, Company President.
Exploring the district-scale Lulu Porphyry Target Area that stretches over a 4 km by 5 km area, and encompasses multiple high-priority prospects such as the newly discovered Long Ridge and Hidden Gold zones, will be a priority this season.
Exploration Plan for 2021:
- Commence an Airborne EM and Magnetometer geophysical survey in the spring of 2021;
- Conduct 15 km of IP survey over the Lulu Porphyry Target Area;
- Drill test 4 high priority targets with a minimum of 2,000 meters; and,
- Continue sampling and mapping of the newly discovered Long Ridge Cu-Mo-Re and Hidden Gold Zones.
The Company has contracted Geotech Ltd. of Aurora, Ontario to conduct an airborne VTEM and magnetometer survey over the Property. The survey will cover the previously identified porphyry targets and will greatly aid in future drill targeting over the encouraging and highly anomalous copper-molybdenum-gold-rhenium soil and talus anomalies. The VTEM time domain EM and high sensitivity cesium magnetometer survey will enable us to map the geological structures and lithologies, and will be instrumental in planning follow-up work at the LGM. The program will consist of a total of 890-line kilometers and is scheduled to commence in May.
A follow-up Induced Polarization ("IP") geophysical survey is set to commence in early summer to further refine targets within the Lulu Porphyry Target Area ahead of an inaugural mid-season drill program consisting of a minimum of 2,000m.
The permit allows the Company to establish 50 drill pads, construct helicopter pads, establish access trails, conduct up to 100 km of ground IP geophysics and complete trenching on each of the 4 priority project areas over the next five years.
About Origen
Origen is an exploration company engaged in generating, acquiring and advancing base and precious metal 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, and a 100% interest in the Middle Ridge gold project 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/80091
