(TheNewswire)
Aurora, Ontario / TheNewswire / July 4, 2018 - Tri Origin Exploration Ltd. (TOE: TSX-V) (“Tri Origin” or “The Company”) is pleased to announce that it has added significantly to its land holdings at the Company’s Sky Lake project located 30 kilometres southwest of the Pickle Lake Gold District. A total of 238 new mining claim cells totalling an area of 5,950 hectares were acquired as to 100% ownership through map staking.
Tri Origin now controls 100% interest in approximately 10,100 hectares of ground. The property covers a mineralized segment of the past-producing Pickle Lake greenstone belt adjoining highway 199 at the properties eastern edge and extending for 30 kilometres to the west. At the core of this property, Tri Origin has the option to earn a 96% interest in patent claims held by Barrick Gold Corp. These patent claims host a significant, partially-delineated gold deposit discovered during the 1950’s which has seen little work for the past 60 years. Robert Valliant, CEO of Tri Origin states “this represents an important acquisition and consolidates a district-scale land position in a productive belt of rocks with a prospective but only partially explored gold deposit at its centre’.
The deposit consists of four sub-parallel, auriferous units spaced between 25 and 50 metres apart which collectively have been traced for a distance of 1.5 kilometres along strike. These are referred to as the Red, Orange, Purple and Yellow Zones. The northern-most Red Zone contains average composited assay results from historic drilling of 3.27 grams of gold per tonne (“g/t”) across 6.6 metres true thickness, the Orange Zone 2.40 g/t across 3.6 metres, the Purple Zone 3.76 g/t across 6.0 metres and the Yellow Zone 2.70 g/t across 3.6 metres. In general, the zones have only been drilled to between 50 and 100 metres in depth although in places they have been intersected at 200 metres below surface and all are open. Modelling of these zones was completed using a database of 133 drill holes totalling 13,954 metres of drilling of which 105 had extensive, recoverable assay records. This data was reported on in detail in a Tri Origin news release of September 14, 2017.
In addition, historic gold occurrences have been reported in government assessment files within the newly acquired claims. All geological data in the area has been compiled and interpreted by Tri Origin and, in the past, the Company’s field crews have completed geological mapping and sampling over a portion of the property. This information has given management the belief that the Sky Lake property has the potential to host significant, as yet undiscovered, gold deposits on a district scale. This provided the incentive for acquisition of the new claims.
Tri Origin’s Sky Lake gold project covers a well-mineralized belt of volcanic and sedimentary rock that lies midway between the past-producing gold deposits of the 2 million ounce Pickle Lake Gold District and the Dona Lake Mine to the northeast and the Golden Patricia gold mine to the west. The geological environment being investigated by the Company is interpreted by management to strongly resemble that of the important Bousquet-LaRonde Gold District in Quebec where over 25 million ounces of gold has been recovered by mining companies including Agnico Eagle Mines Ltd, IAMGOLD Corporation, Barrick Gold Corporation and LAC Minerals Ltd.
The next phase of Tri Origin’s work will focus on the systematic evaluation of the known gold zones and other nearby drill targets identified by the Company. Initially, a program consisting of deep-looking geophysical surveying to assess the continuity and extension of known gold zones at depth for follow-up diamond drilling is planned. Line cutting for this program was completed during the latter part of 2017. Shareholders will be informed of the next phase of work at the Sky Lake gold project prior to its commencement.
For more information about Tri Origin, please visit www.triorigin.com or SEDAR at 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 publicly listed on the TSX Venture Exchange under the trading symbol TOE. Tri Origin is a leading Canadian exploration company with gold and base metal projects in Canada.
Technical work referred to in this news release was compiled and reported on by Phil Burt, MET, BSc, P.Geo of Burt Consulting Services, Oakville, Ontario.
CAUTIONARY STATEMENT: 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.
Assay results and other drill hole data were obtained from the mineral assessment files of the Ministry of Northern Development and Mines (“MNDM”) and have not yet been confirmed by Tri Origin drilling. No available core or detailed descriptions of assay or sampling procedures are available and consequently, the assays cannot be considered to be NI43-101 compliant. In addition, reports sourced from MNDM files quote a small resource of gold however these resource estimates are not 43-101 compliant and are not represented to be accurate by Tri Origin without confirmatory work being completed.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Tri Origin's periodic reports including the annual report or in the filings made by Tri Origin from time to time with securities regulatory authorities.
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