(TheNewswire)
Toronto, Ontario, TheNewswire, January 17, 2023, NewOrigin Gold Corp. (TSX-V: NEWO) has received final geochemical results from the soil, humusand rock sampling program completed during the fall of 2022 at its SkyLake Gold project. The 9,100 hectare Sky Lake Project is a 27 km longproperty southeast of the Pickle Lake Gold District in northwesternOntario. Results have identified coincident humus and soil geochemicalanomalies that further define and outline priority target areas for aplanned summer 2023 drill program.
Geochemical samples were collected over an area ofapproximately 2.5 square kilometres east of the recently acquiredinternal “Koval” patent claims (Figure 1). The Koval claims,located at the center of the Sky Lake property, host a small historicgold deposit along a northeast trending sequence of altered volcanicand sedimentary rocks.
“NewOrigin’s first geological field program sinceacquiring 100% of the Koval claims from Barrick Gold has identifiedcoincident soil and humus anomalies within the sampling area along theeastern margin of the newly acquired claims. NewOrigin believes themost prospective areas to host a Tier 1 gold deposit lie within thevolcanic and sedimentary rock sequence between the iron formationtrend and the south break trend. Possible extensions and repetitionsof the gold mineralization found at the historic Koval gold deposithave also been further refined by this program. A summer 2023 drillprogram is planned to test within the Koval gold deposit area atsurface and at depth, its easterly extension and possible series of enechelon structures to the north and south.” commented Andrew ThomsonC.E.O. of NewOrigin Gold.
Figure 1: Surface projection of soil and humus geochemicalanomalies.
A total of 574 humus and 450 soil samples were taken atsurface and 20 centimetres below surface, respectively. Loweranalytical detection limits were 1 part per billion gold (“ppbAu”) for humus and 5 ppb Au for soils. A threshold for anomalousgold in humus was set at 4 ppb Au with 17 samples (3.0% of total humussamples) returning values of 4 ppb Au to a maximum value of 244 ppbAu. A threshold for anomalous gold in soils was set at 20 ppb Au with20 samples (4.4% of total soil samples) returning values between 20ppb Au and a maximum value of 931 ppb Au. Humus and soil samplescontaining anomalous gold complement each other well, delineating fivenew prospective target areas of interest. These results, when combinedwith results of earlier work, outline distinct clusters of anomalousgold in overburden across a 2 kilometre area east of the Koval deposit(Figure 1). Two grab samples of rock taken from outcrop nearby thesurface expression of the Koval gold deposit returned 0.7 and 3.4 g/tAu, confirming the presence of significant gold grades occurring inlocalized bedrock exposures.
Gold-bearing altered volcanic and sedimentary rock andiron formation have been identified in multiple locations at Sky Lake.A summer 2023 drill program is planned to test the historic Koval golddeposit and new prospective targets identified by the Company’s 2022work program along extensions to the Koval deposit as well as at theiron-formation trend. Historical drill results from the Koval Zoneinclude 8.78 g/t Au over 16.0 metres within 100 metres of surface. Thedrill permit is in place and NewOrigin remains actively engaged withlocal First Nation communities in order to responsibly move forwardwith its drill program.
Technical Information
Geochemical analyses were conducted by ActivationLaboratories Ltd (Actlabs) located in Thunder Bay, Ontario. Gold insoils was analyzed by fire assay with atomic absorption finish on a 15gram sample. The detection limit for gold is 5 ppb. Trace elementswere analysed using an Aqua Regia ICP-MS technique with variousdetection limits dependent on element. Gold in humus was analyzed byInstrumental Neutron Activation (“INAA”) using a 15 gram sample.The detection limit for gold is 1 ppb. Trace elements were analyzed byINAA with various detection limits dependent on element. The basemetals copper, lead and zinc were also analyzed using an Ash Aqua Regia ICP technique.
Results obtained from grab samples of rock are notindicative of the overall metal content of the rock unit sampled.Accuracy of gold content in historic drill intersections cannot beindependently verified by the Company. Values quoted in this newsrelease were obtained from published records stored by the Ontariogovernment in mineral assessment files.
This press release and technical data referred to inthe release was reviewed by Mr. Mark Petersen, P. Geo., an advisor toNewOrigin. He is a Qualified Person as defined by National Instrument43-101.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. is a Canadian gold explorationcompany focused on drill discovery at its Sky Lake gold project in theCanadian Shield. NewOrigin’s management and Board have extensiveexperience in the delineation and development of gold deposits.NewOrigin trades on the TSX Venture Exchange under the ticker“ NEWO ”.
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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