Update on Diamond Exploration at Tri Origin's South Abitibi and Nipissing Cobalt Properties
Aurora, December 18, 2019 - Tri Origin Exploration Ltd. (TSXV:TOE) ("Tri Origin" or the "Company") has received a progress update from De Beers Group on preliminary diamond exploration activities being conducted at the Company's South Abitibi and Nipissing Cobalt properties in east-central Ontario. The De Beers Group program is subject to exploration agreements entered into between De Beers Group and the Company on both properties. De Beers Group has informed Tri Origin that it has drilled one diamond drill hole at South Abitibi and one diamond drill hole at Nipissing Cobalt. The hole at South Abitibi intersected a magnetic gabbro which is believed to have explained the targeted anomaly. The Nipissing Cobalt hole intersected sedimentary rock and physical property data is being conducted on the drill core to determine if this rock provides an explanation for the targeted anomaly. De Beers Group has also collected nine regional till samples taken down ice from other targets it has identified to assess for kimberlite indicator minerals ("KIM's"). De Beers Group initially identified a number of targets of interest at both properties based on airborne magnetic and other surveys it had flown across portions of the properties.
Data and results for drill core and till samples are pending. The physical property data for the Nipissing Cobalt drill hole and its comparison to the geophysical data from the targeted anomaly will be completed early next year. Till samples are being concentrated to recover KIM's. The concentrates will be processed for KIM's at a De Beers laboratory in Johannesburg, South Africa. The same lab will conduct electron microprobe mineral chemistry work on the KIM grains picked from the concentrate. Review of this data is expected in the first quarter of 2020.
Tri Origin has been informed that De Beers Group 2020 work plans for both properties will be determined following completion of this work.
The South Abitibi and Nipissing Cobalt properties consist of 210 square kilometres of mining claims located 5 kilometres southwest and 125 square kilometres of mining claims located 10 kilometres west of the town of Cobalt, Ontario respectively. Both are subject to exploration access agreements with De Beers Group. The exploration access agreements allow De Beers Group access to conduct preliminary drilling at targets it has identified as being of interest and to evaluate for diamond content if these targets are proven to be kimberlitic rocks. Pending results, more comprehensive property earn-in agreements containing industry-standard terms could then be negotiated and entered into at either or both properties.
Tri Origin's properties are central to a prolific, metal-producing region with the world-class Kirkland Lake Mining District (gold) to the north, Noranda Mining District (copper-zinc-gold) to the northeast, Cobalt Mining District (silver-cobalt) to the east and the Sudbury Mining District (nickel--copper) to the south. The South Abitibi and Nipissing Cobalt properties are underlain by Archean-age rocks of the southern Abitibi Greenstone Belt which are covered by a blanket of younger Proterozoic-age sedimentary rock and Nipissing diabase. This geological environment is prospective for Abitibi-type gold and base metal deposits and Proterozoic cobalt-silver-nickel-copper deposits. The agreement with De Beers Group is specific to diamonds and continued exploration for precious or base metals may be conducted by Tri Origin or through additional partnerships.
Most importantly, the properties extend over a unique and large-scale crustal corridor. Historically, a number of diamondiferous kimberlites have been identified within this structural zone in the Cobalt area. This area is now being reassessed by other companies for new discoveries of diamondiferous kimberlite and especially those that might contain large, high-value diamonds that may have been overlooked by earlier sampling techniques.
Management is pleased and excited to have De Beers Group participate in its mineral exploration efforts at the South Abitibi and Nipissing Cobalt properties. The agreements with De Beers Group provide additional, fully-funded opportunities for Tri Origin to capitalize on its strategy of identifying and acquiring prospective, district-scale, properties in well-mineralized mining areas and advancing these properties toward making new discoveries.
For information about Tri Origin, please visit www.triorigin.com or SEDAR www.sedar.com or contact:
Dr. Robert Valliant, President
Tel: (905) 727-1779
E-mail: invest@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.
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.
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.