Key Highlights
Large land package in the heart of
Geology is within the regional Exploits Subzone which is host to
Originally explored in the early 1970's for base metals with little focus on gold
Several anomalous lake sediment samples and gold occurrences remain untested
Under-explored due to lack of rock exposure in the region.
Historic drilling encountered sulphide rich quartz veins that were never assayed
This large property (7,875ha) occurs near a major deep crustal fault that potentially has tapped gold bearing hydrothermal fluids and provided a plumbing system towards the surface. Gold, silver and base metal lake sediment anomalies identified by Noranda in the 1990s suggests a fertile gold environment.
Between 1970-1971 Noranda Exploration carried out an airborne electromagnetic and magnetic survey followed up by some ground geophysics and drilling on a portion of the property. The exploration program was targeting Cu-Zn-Pb Volcanic hosted massive sulphides. Two diamond drill holes were drilled on the property one of which contained a number of sulphide rich quartz veins that were never assayed.
'We are very pleased to have acquired such a promising land package in the highly prospective Gold Camp in
2020 Exploration Plans
The Company's geologists are continuing to compile the data from the newly acquired assets with the goal of planning and implementing an exploration program for this year. The Company hopes to conduct a search for the historic core prior to the onset of winter and if intact sample the core with specific attention to the unsampled sulphide rich quartz vein intervals.
'This region has always been a highly prospective area geologically but due to the lack of outcrop very few 'easy' discoveries were made. Given todays advanced geophysics and geotechnical techniques we believe that more discoveries like
Middle Ridge Property Geology
Gold deposition in the Exploits Subzone is found in secondary and tertiary structures crosscutting siliciclastic sediments bounded by the Gander River Ultramafic Belt (GRUB line). The Exploits Subzone is a large, tectonically defined region within the
The Exploits Subzone is characterized by where the volcanic and sedimentary rocks of the
Terms of the Acquisition
The Company can purchase a 100% interest by paying a total of
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
Contact:
Tel: 236-878-4938
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or lithium at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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