Top

Tri Origin Exploration Ltd.

TSXV Exchange | Oct 23, 2019, 3:17 PM EDT | Real-time price

TOE $ 0.03 RT
CHANGE
-0.005 (-14.286%)
VOLUME
5,000
Day Low: 0.03
Day High: 0.03
 Back
Geophysical Survey to Delineate Gold Zones at Tri Origin's Sky Lake Project, Ontario

(via TheNewswire)

Aurora, Ontario - TheNewswire - September 19, 2019 - Tri Origin Exploration Ltd. (TSXV:TOE) ("Tri Origin" or "The Company") is pleased to announce that a "deep-looking" induced polarization ("IP") survey has commenced at the Company's Sky Lake project located 30 kilometres southwest of the Pickle Lake Gold District in northwest Ontario.

The survey will cover gold zones located near the centre of the Sky Lake property. Up to 20 line kilometres of surveying will be completed by Dias Geophysical Ltd with a modern, proprietary survey technology which, for this survey, is designed to look approximately 400 metres deep. Rudimentary IP surveying conducted 35 years ago indicated that gold mineralization delineated at the time responded well to the IP technique. No surface exploration surveying has been conducted since then.

Gold zones were discovered and partially delineated at the Sky Lake property during the 1950's. The zones are separated from each other by approximately 25 metres and collectively comprise a deposit (the "Koval" deposit) which was traced for a distance of 1.5 kilometres along strike however it was only drilled to between 50 and 100 metres in depth. A small, non-compliant resource was calculated for the Koval deposit in the past. The deposit is open and, in places, has been intersected at 200 metres below surface which confirms the potential to significantly expand the area of gold mineralization through further drilling. The deep-looking IP survey will greatly assist in identifying important depth extensions of the deposit and in targeting future drill holes.

Tri Origin has completed three dimensional modelling of the individual zones using a database comprised of 13,954 metres of drilling with 105 drill holes having extensive, recoverable assay records. 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 southern-most Yellow Zone 2.70 g/t across 3.6 metres. This data was reported on in detail in a Tri Origin news release of September 14, 2017.

In the past, the Company's field crews have completed geological mapping and sampling over a portion of the property. This information has confirmed management's belief that the Sky Lake property has the potential to host significant, as yet undiscovered, gold deposits on a district scale. The current, deep-looking IP survey is planned to assess the continuity and identify extensions of the known gold deposit at depth to be followed by diamond drilling.

At Sky Lake, Tri Origin controls 100% interest in a 30 kilometre long segment of the past-producing Pickle Lake greenstone belt. 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 the partially-delineated Koval gold deposit discovered during the 1950's which has seen little work for the past 60 years. Infrastructure is nearby and at its eastern edge the property adjoins highway 199 and power transmission lines. 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 as well as 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 Company is also encouraged by work conducted by Ardiden Limited at its Kasagiminnis property at Sky Lake. In a news release to the Australian Securities Exchange of September 10, 2019 Ardiden announced a significant mineral resource at Kasagiminnis. The Kasagiminnis property is surrounded by Tri Origin's Sky Lake claims and the geological environment hosting the resource extends both eastward and westward onto Tri Origin's property. The Koval deposit is approximately 10 kilometres west of the Kasagiminnis resource and both highlight the exploration potential of this portion of a productive but over-looked greenstone belt.

This phase of Tri Origin's work will continue to focus on the systematic evaluation of known gold zones and other nearby drill targets identified by the Company. The IP survey is expected to be complete by mid to late October. Shareholders will be informed of the results of this work following completion of the program.

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.

Copyright (c) 2019 TheNewswire - All rights reserved.

Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. View delay times for all exchanges. Market Data powered by QuoteMedia. See the QuoteMedia Terms of Use.