NewOrigin Gold Begins Drilling to Test IP Chargeability Anomalies at Depth on North Abitibi Gold Project
"Historic drilling at North Abitibi has been limited to testing for near surface gold mineralization. NewOrigin's drill program is designed to test deeper IP chargeability anomalies as the source of the multiple pulses of gold mineralization defined to date over an aggregate ~3 kilometre ("km") strike length. At North Abitibi historic drilling has identified gold bearing pyrite which makes drilling the untested deeper IP targets more attractive." commented Elijah Tyshynski, Lead Director of NewOrigin Gold.
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North Abitibi is a 10 km long property, covering over 4,200 hectares extending along the "Casa Berardi Break". The Property is located approximately 120 km northeast of the town of Cochrane, Ontario near the Ontario-Quebec border, approximately 40 km west of Hecla's Casa Berardi Gold Mine and approximately 50 km south of Kirkland Lake Gold's Detour Lake Gold Mine. Nearby infrastructure includes power lines servicing the Detour Lake Mine and highway and gravel road access. Edcor Drilling Services Inc. have mobilized a drill to site with the 2021 drilling campaign commencing this week.
In 2019 NewOrigin identified multiple high chargeability IP anomalies which represent possible extensions to known surface gold zones. Four diamond drill holes with an average 500m drill length are planned to test for the source of the near surface gold mineralization at depth:
1.Spade Lake Zone East - Historic drill intercepts with values up to 23.4 g/t Au over 1.5m, and an Untested IP trend coincident with gold bearing till surface anomaly
2.Spade Lake Zone - Historic near surface intersections of up 6.07 g/t Au over 6.0m
3.Road Zone - Historic drill intercepts with values up to 17.8 g/t Au over 1.6m
4.East Central Zone - Historic drill intercepts with values up to 0.74 g/t Au over 20m
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About North Abitibi
NewOrigin holds 100% interest in the North Abitibi claims. The claims are subject to a back in right held by Vista Gold Corp. whereby once NewOrigin has spent $2,000,000 on the property, Vista has the option to earn back a 51% interest by spending $4,000,000 on the property over three years. If Vista declines to back in, Vista's interest will revert to a 3% NSR royalty. NewOrigin may buy back 1% NSR for $1,000,000.
This press release was compiled and reviewed by Mr. William McGuinty, P. Geo., NewOrigin's consulting lead geologist. He is a Qualified Person as defined by National Instrument 43-101 and has supervised the preparation of the technical contents of this press release.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin Exploration Ltd.) is a well-funded, Canadian gold exploration company focused on drill discovery on its North Abitibi and Sky Lake gold projects in the Canadian Shield. NewOrigin's management and board have extensive experience in the delineation and development of gold deposits. Company shareholders include O3 Mining Inc. and Osisko Mining Inc. NewOrigin Gold trades on the TSX Venture Exchange under the ticker "NEWO".
For Further Information Contact:
Elijah Tyshynski , Lead Director
Phone: (905) 727-1779 or visit www.neworigingold.com
Neither the 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.
Cautionary Statement regarding Forward Looking Statements:
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. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the intention to complete the foregoing, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company's ability to obtain all approvals required in connection with the foregoing, the Company's ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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