(TheNewswire)
Toronto, ON - TheNewswire - February 23 , 2023 - NewOrigin Gold Corp. (TSXV:NEWO) hasreceived assay results from a reconnaissance mapping and samplingprogram completed during the fall of 2022 at its South Abitibi Project(“South Abitibi”). South Abitibi covers 16,485 hectares and islocated 15 kilometres southwest of Cobalt, Ontario near the southernmargin of the Abitibi Greenstone Belt. Results have highlighted theexploration potential for nickel-copper discoveries at and along trendeast of previously explored areas outlined by NewOrigin during pastfield seasons.
Massive and Semi-Massive Sulphide Contact in the Newly SampledArea
A total of nine rock samples were collected within asmall area at the center of the property which hosts historicoccurrences of nickel (“Ni”) and copper (“Cu”). Ni-Cuoccurrences can historically be traced along a 1.7 km east-west trendwith the most recent samples taken from an area at the eastern portionof the trend and returned assays up to 1.0% Ni and 0.5% Cu. Samplevalues for base metal sulphides were returned as follows:
SAMPLE ID | TYPE | ROCK | Ni | Cu |
TYPE | % | % | ||
524122 | Grab | Massive sulphides | 0.4 | < 0.1 |
524124 | Grab | Massive sulphides | 0.9 | 0.1 |
524128 | Grab | Semi-massive sulphides | 0.5 | 0.1 |
524129 | Grab | Massive sulphides | 0.7 | 0.1 |
524130 | Grab | Massive sulphides | 1.0 | 0.1 |
524131 | Grab | Massive sulphides | 0.5 | 0.5 |
524132 | Grab | Massive sulphides | 0.7 | 0.1 |
524133 | Grab | Massive sulphides | 0.6 | 0.1 |
524134 | Float | Massive Sulphides | 0.8 | 0.1 |
The sample area hosts a Ni-Cu sulphide zone up to 7 metres thick andappears to be located at the contact between steeply-dippingultramafic and mafic volcanic rocks to the north and felsicvolcanic/cherty sedimentary rock to the south. The zone ischaracterized by disseminated to massive and semi-massive sulphidesdominated by pyrite, pyrrhotite, chalcopyrite and pentlandite.
The western portion of the Ni-Cu trend is associatedwith massive and semi-massive sulphide nearby mafic intrusive rockssimilar to those at the Kanichee Cu-Ni mine 10 kilometres southwest ofSouth Abitibi. In addition, a 1.5 kilometre long series of airborneelectromagnetic anomalies was detected by a “VTEM” survey flown byNewOrigin in 2015. The VTEM target anomalies are located in anorth-south trend 1 kilometre southeast of the sampled area withinmafic volcanic rocks. This 1.5 kilometre long trend is not exposed atsurface and has never been drill tested.
NewOrigin’s exploration to date at South Abitibi includes airbornemagnetic and electromagnetic surveying, prospecting, geologicalmapping, induced polarization geophysics and diamond drillingconducted between 2015 and 2018. The majority of exploration work todate has been focused on evaluating gold mineralization north of the1.7 km Ni-Cu trend. In 2018, NewOrigin completed 2 drill holes at thewestern end of the Ni-Cu trend and intersected up to 0.21% Ni across 1metre and 0.39% Ni across 0.2 metres. The trend remains open to thewest. The gold occurrences remain a key focus and warrant furtherwork. However, rising global demand for “Critical Minerals” hasprompted re-evaluation of the extensive Ni-Cu and cobalt potential ofthe South Abitibi Project.
Historic exploration of the Ni-Cu trend was conductedprimarily by Rib Lake Copper Mines (1952), Coniagas Mines Ltd (1956),Nickel Rim Mines Ltd (1963, 1964, 1965, 1971 and 1972). Thesecompanies completed approximately 40 drill holes and identified atrend of prospective sulphide occurrences over a 1.7 km strikelength. Drilling returned values of up to 0.6% Ni and 0.2% Cu across7.04 metres. Importantly, this area was placed under an explorationmoratorium from 1972 to 1996 (24 years) during which time no mineralexploration could be conducted. Following the moratorium, 4 drillholes were completed in the area by Raven Resources in 1999 and 2holes by Temex in 2011. Raven Resources hole WL-4-99 returned 0.5% Niand 0.3% Cu across 5.5 metres. Much of the earlier work was conductedwithout the assistance of modern geophysical targeting and dataanalytics methods and all occurrences identified to date remain openalong strike and at depth.
South Abitibi is located within a very metal-endowedsegment of the Abitibi Greenstone Belt with the world-class districtsof Sudbury (Ni-Cu-PGEs) to the southwest, Cobalt (Co-Ag) to thenortheast and Kirkland Lake (Au) to the north. NewOrigin plans furtherinvestigation of the “Critical Mineral” potential of the SouthAbitibi property and is seeking a partner to advance the property.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin ExplorationLtd.) is a Canadian exploration company focused on drill discovery atits gold projects in the Canadian Shield. NewOrigin’s management andboard have extensive experience in the delineation and development ofgold deposits. Company shareholders include O3 Mining Inc. and OsiskoMining Inc. NewOrigin Gold trades on the TSX Venture Exchange underthe ticker “NEWO”.
Technical Information
Samples were submitted to Activation Laboratories inAncaster, ON. Samples targeting gold mineralization were analyzedusing fire assay with atomic absorption (FA-AA) finish and traceelements analyzed by ICP-MS with 4-acid digestion. Massive andsemi-massive sulphide samples were analyzed by ICP-OES and ICP-MS withsodium peroxide fusion. Results obtained fromgrab samples of rock are not indicative of the overall metal contentof the rock unit sampled. Accuracy of metal content quoted fromhistoric assays cannot be verified by the Company. Historic assaysquoted in this news release were obtained from records stored by theOntario government in mineral assessment files. This press release and technical data referred to in therelease was reviewed by Mr. Mark Petersen, P. Geo., an advisor toNewOrigin. He is a Qualified Person as defined by National Instrument43-101.
For Further Information Contact:
Andrew Thomson, CEO
Ph: 905 727-1779 or visit www.neworigingold.com
Cautionary Statement regardingForward Looking Statements:
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. This News Release includes certain “forward-lookingstatements” which are not comprised of historical facts.Forward-looking statements include estimates and statements thatdescribe the Company’s future plans, objectives or goals, includingwords to the effect that the Company or management expects a statedcondition or result to occur. Forward-looking statements may beidentified by such terms as “believes”, “anticipates”,“expects”, “estimates”, “may”, “could”, “would”,“will”, or “plan”. Since forward-looking statements are basedon assumptions and address future events and conditions, by their verynature they involve inherent risks and uncertainties. Although thesestatements are based on information currently available to theCompany, the Company provides no assurance that actual results willmeet management’s expectations. Risks, uncertainties and otherfactors involved with forward-looking information could cause actualevents, results, performance, prospects and opportunities to differmaterially from those expressed or implied by such forward-lookinginformation. Forward looking information in this news releaseincludes, but is not limited to, the intention to complete theforegoing, the Company’s objectives, goals or future plans,statements, exploration results, potential mineralization, theestimation of mineral resources, exploration and mine developmentplans, timing of the commencement of operations and estimates ofmarket conditions. Factors that could cause actual results to differmaterially from such forward-looking information include, but are notlimited to, the Company’s ability to obtain all approvals requiredin connection with the foregoing, the Company’s ability to predictor counteract potential impact of COVID-19 coronavirus on factorsrelevant to the Company’s business failure to identify mineralresources, failure to convert estimated mineral resources to reserves,the inability to complete a feasibility study which recommends aproduction decision, the preliminary nature of metallurgical testresults, delays in obtaining or failures to obtain requiredgovernmental, environmental or other project approvals, politicalrisks, inability to fulfill the duty to accommodate First Nations andother indigenous peoples, uncertainties relating to the availabilityand costs of financing needed in the future, changes in equitymarkets, inflation, changes in exchange rates, fluctuations incommodity prices, delays in the development of projects, capital andoperating costs varying significantly from estimates and the otherrisks involved in the mineral exploration and development industry,and those risks set out in the Company’s public documents filed onSEDAR. Although the Company believes that the assumptions and factorsused in preparing the forward-looking information in this news releaseare reasonable, undue reliance should not be placed on suchinformation, which only applies as of the date of this news release,and no assurance can be given that such events will occur in thedisclosed time frames or at all. The Company disclaims any intentionor 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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