(TheNewswire)
September 22, 2021 – TheNewswire - NewOrigin Gold Corp. (TSXV:NEWO) (OTC:TROIF) hascommenced a 2,200 metre (“m”) diamond drill program on its NorthAbitibi Gold Project in northeastern Ontario. The drill program is designed to test four separate InducedPolarization (“IP”) chargeability anomalies at vertical depths upto 550m where prior drilling was limited to 150m vertical depths. AllIP drill targets represent potential extensions to known gold zones.
“Historic drilling at North Abitibi has been limitedto testing for near surface gold mineralization. NewOrigin’s drillprogram is designed to test deeper IP chargeability anomalies as thesource of the multiple pulses of gold mineralization defined to dateover an aggregate ~3 kilometre (“km”) strike length. At NorthAbitibi historic drilling has identified gold bearing pyrite whichmakes drilling the untested deeper IP targets more attractive.”commented Elijah Tyshynski, Lead Director of NewOrigin Gold.
North Abitibi is a 10 km long property, covering over4,200 hectares extending along the “Casa Berardi Break”. TheProperty is located approximately 120 km northeast of the town ofCochrane, Ontario near the Ontario-Quebec border, approximately 40 kmwest of Hecla’s Casa Berardi Gold Mine and approximately 50 km southof Kirkland Lake Gold’s Detour Lake Gold Mine. Nearby infrastructureincludes power lines servicing the Detour Lake Mine and highway andgravel road access. Edcor Drilling Services Inc. have mobilized adrill to site with the 2021 drilling campaign commencing thisweek.
In 2019 NewOrigin identified multiple highchargeability IP anomalies which represent possible extensions toknown surface gold zones. Four diamond drill holes with an average500m drill length are planned to test for the source of the nearsurface gold mineralization at depth:
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1. Spade LakeZone East - Historic drill intercepts withvalues up to 23.4 g/t Au over1.5m, and an Untested IP trend coincident withgold bearing till surface anomaly
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2. Spade LakeZone – Historic near surface intersections ofup 6.07 g/t Au over6.0m
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3. Road Zone - Historic drill intercepts with values up to 17.8 g/t Au over 1.6m
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4. East CentralZone - Historic drill intercepts with values upto 0.74 g/t Au over 20m
About North Abitibi
NewOrigin holds 100% interest in the North Abitibiclaims. The claims are subject to a back in right held by Vista GoldCorp. 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 backin, Vista’s interest will revert to a 3% NSR royalty. NewOrigin maybuy back 1% NSR for $1,000,000.
Technical Information
This press release was compiled and reviewed by Mr.William McGuinty, P. Geo., NewOrigin’s consulting lead geologist. Heis a Qualified Person as defined by National Instrument 43-101 and hassupervised the preparation of the technical contents of this pressrelease.
About NewOrigin GoldCorp.
NewOrigin Gold Corp. (formerly Tri Origin ExplorationLtd.) is a well-funded, Canadian gold exploration company focused ondrill discovery on its North Abitibi and Sky Lake gold projects in theCanadian Shield. NewOrigin’s management and board have extensiveexperience 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 norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
CautionaryStatement regarding Forward Looking Statements:
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. This News Release includes certain“forward-looking statements” which are not comprised of historicalfacts. Forward-looking statements include estimates and statementsthat describe the Company’s future plans, objectives or goals,including words to the effect that the Company or management expects astated condition 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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