(TheNewswire)
Toronto, Ontario – TheNewswire - September 14, 2022 - NewOrigin Gold Corp. (TSXV:NEWO) (OTC:TROIF) hasinitiated a geological program at its Sky Lake Gold Project innorthwestern Ontario. NewOrigin’s Sky Lake Gold Project covers 9,100hectares and is located 25 kilometres southwest of the Pickle Lakegold mining district. In November of 2021 NewOrigin acquired 100%interest in the Koval patented claims from Barrick Gold and alsoreceived a three-year permit to carry out drilling. In February of2022 NewOrigin renewed its Exploration Permit to conduct surfaceexploration, also valid for 3 years. The Company is now proceedingwith its goal of establishing a gold resource on its Sky Lake GoldProject.
The current field work consists of geological mapping,soil sampling and drill site reconnaissance. Geological mapping isfocused on identifying possible eastward extensions to the Koval GoldZone as well as along trend from iron-formation related goldoccurrences northeast of the Koval Zone identified almost 40 yearsago. Soil sampling is underway to cover these areas and also at otherhigh-priority targets to prioritize them for a preliminary drillprogram.
NewOrigin Gold is initially targeting a drill programto confirm and build on the historic resource at the Koval Zone. Drillsite reconnaissance is now being carried out in this area with a viewto drill testing below known near surface gold mineralization and atdepth below historic drilling. In addition, NewOrigin’s drill program may also consist ofdrilling gold-bearing iron formation northeast of Koval which isgeologically similar and along trend from the Kasagiminnis goldresource currently being investigated by Ardiden Limited. NewOriginwill await results from soil sampling to determine if drill targetsoutside of the Koval Zone will make up part of the inaugural drillprogram.
Sky Lake Project is a 25 kilometre long, camp-scaleproperty in the prolific Red Lake-Uchi Sub-Province of northwesternOntario. Greenstone belts comprising this sub-province have seenproduction and discoveries of over 40 million ounces (“M oz”) ofgold including; Evolution Gold’s Red Lake Mine (~25 M oz),the recentLP Fault discovery (pre-resource) on Great Bear Resources’ Dixieproperty and the nearby Pickle Lake District and surrounding depositshosting over 3 M oz of gold. Sky Lake shares a similar geologicalenvironment to these important gold mining centers and discoveries.
Throughout 2022, NewOrigin has been working diligentlyto complete an arrangement for the benefit of the nearbyMishkeegogamang Ojibway community. This work is progressing and theCompany would like to thank members of the Mishkeegogamang communityfor their engagement, positive support and continued interactiontoward building a long-term relationship.
Technical Information
Technical information in this press release wasreviewed by Mr. Mark Petersen, P. Geo., He is a Qualified Person asdefined by National Instrument 43-101.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin ExplorationLtd.) is a Canadian gold exploration company focused on drilldiscovery 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.NewOrigin Gold trades on the TSX Venture Exchange under the ticker“NEWO”.
For Further InformationContact:
Andrew Thomson, CEO
Phone: (905) 727-1779 or visitwww.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
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 mineralresources to reserves, the inability to complete a feasibility studywhich recommends a production decision, the preliminary nature ofmetallurgical test results, delays in obtaining or failures to obtainrequired governmental, environmental or other project approvals,political risks, inability to fulfill the duty to accommodate FirstNations and other indigenous peoples, uncertainties relating to theavailability and costs of financing needed in the future, changes inequity markets, 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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