Business
Origen Resources Options 75% of Bonanza Mountain to Tearlach Resources Ltd.
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2020) - Origen Resources Inc. (CSE: ORGN) (the "Company" or "Origen") is pleased to announce that it has
About this update from Origen Resources Inc
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 15, 2020) - Origen Resources Inc. (CSE: ORGN) (the \"Company\" or \"Origen\") is pleased to announce that it has signed an option agreement with Tearlach Resources Ltd. (TSXV: TEA.H) (\"Tearlach\") to acquire a 75% interest in the Company's high-grade Bonanza Mountain gold and copper project, in the historic Knight's mining camp, Grand Forks, B.C. \"This is another significant milestone for our very young company and we welcome Tearlach as a partner in exploring our Bonanza Mountain project. This follows the Company's business model of generating quality projects and partnering with highly capable groups to advance our assets,\" states Blake Morgan, President. Bonanza Mountain Project Highlights The road accessible Bonanza Mountain property consists of four claims totalling 1603 hectares (ha) and is situated approximately 20 km north of Grand Forks, BC, on the east slope of the Granby River. The Project encompasses the historic Knight's Camp, centered on the Bonanza, Mountain View, Colorado and Nevada lapsed Crown Grants (\"Bonanza Crown Grants\") on what is locally known as Bonanza Mountain. Bonanza Mountain was the scene of significant exploration and development activity over a short period from the late 1800s through to the early 1900s. By 1901, multiple shafts and tunnels were developed on the Bonanza Crown Grant with references of high-grade gold and copper sourced from the workings. Historic details of the activities have been sourced from local newspapers from the period, original Crown Grant documents, Annual Reports to the Minister of Mines, and the online GATOR system, a database registry of Crown land records for British Columbia. The Company completed a comprehensive field program in the fall of 2019 and identified three separate styles of mineralization at Bonanza Mountain highlighted by the following grab samples collected at or in close proximity to the 15 historical workings, comprising shafts, adits and blast pits identified on the property: Cu-Zn-Pb-Ag Skarn mineralization with one grab sample grading 2.44% Cu, 4.41% Zn, 0.47% Pb and 53 g/t Ag*; Ag-Pb-Zn Fault Breccia (cataclasite) mineralization with one grab sample grading 266 g/t Ag, 3.14% Pb and 5.31% Zn*; and Au-Ag Epithermal Quartz Vein hosted mineralization with one grab sample grading ...