NewOrigin Gold Corp. to Commence Drilling at its North Abitibi Gold Property
NewOrigin Gold Corp. (TSXV:NEWO) ("NewOrigin" or the "Company") announces that it will be commencing a diamond drill program on its North Abitibi Property in northeastern Ontario and provides an update on its Sky Lake Gold Project in northwestern Ontario. North Abitibi Gold Project
NewOrigin is commencing an up to 3,000 metre (m) diamond drill program to test extensive zones of gold mineralization at its North Abitibi Property. The current program will be comprised of holes to further evaluate changes at depth within zones of known mineralization and to conduct initial drill tests of near-surface exploration targets, identified by induced polarization (IP) surveys and past till sampling. The Company has contracted Edcor Drilling Services to complete the drilling. The drill rig is to be mobilized to site in the coming weeks.
North Abitibi is a 10-kilometre (km) long property, covering over 4,200 hectares (ha) bisected by the Casa Berardi Fault. The Property is 120 km northeast of the town of Cochrane, Ontario approximately 40 km west of Hecla's Casa Berardi Mine and 50 km south of Kirkland Lake Gold's Detour Lake Gold Mine. The Property and mineralized zones are directly accessed by highway and gravel road. The property is fully permitted for drilling.
"We are excited to begin drilling on our North Abitibi gold project on the Casa Berardi trend in northeastern, Ontario." Commented Mark Santarossa, NewOrigin's President. "North Abitibi is in proximity to operating gold mines and hosts significant historical near-surface high-grade gold drill intercepts. NewOrigin will test recently identified surface and deep IP targets below previous drilling with a view to discovering a significant gold resource."
Sky Lake Gold Project
The Company continues to encounter delays in obtaining the required drill permits for Sky Lake. During January of this year, with ten days left to obtain the drill permit, the Ontario Ministry of Energy, Northern Development and Mines (ENDM) put the application on temporary hold, citing COVID-19 as a significant issue in the nearby community. The temporary hold status remains in place. The Company continues to work with ENDM and is closely monitoring the situation in the region. The Company is hopeful that the permit situation will be resolved in the near future.
During this delay, the Company has been actively building its relationship with the Mishkeegogamang First Nations Community, the traditional land and rights holders of the area. The Company has held several meetings and consultations with respect to the Sky Lake exploration plan and looks forward to continuing an open and respectful dialogue with the Community as we forge a strong partnership.
"While disappointed with the prolonged permitting delays at Sky Lake, a meaningful dialogue has been established with our Indigenous partners, focused on building a long-term respectful relationship in the region." Commented Mark Santarossa. "We appreciate the Mishkeegogamang's willingness to engage with us and will continue to seek their support while we await our drill permit."
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin Exploration Ltd.) is a well-funded, Canadian gold exploration company focused on making a major gold discovery in the Canadian Shield to create value for our shareholders.
NewOrigin's management and boards have extensive experience in discovery and development of gold deposits and is well positioned with promising, under-explored projects in productive mining camps. The Company applies sound geological science and new techniques and technologies to advance its projects, with the support of our new strategic backers, O3 Mining Inc. and Osisko Mining Inc. NewOrigin Gold trades on the TSX Venture Exchange under the ticker "NEWO".
For more information please visit www.neworigingold.com or SEDAR www.sedar.com or contact:
Mark Santarossa, CPA, CA, MBA
President
M: 416-371-1325
E: msantarossa@neworigingold.com
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.