Business
Origen Resources Options Broken Handle Property to Hawthorn Resources
Vancouver, British Columbia--(Newsfile Corp. - January 14, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the "Company" or "Origen") is pleased to announ
About this update from Origen Resources Inc
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - January 14, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the \"Company\" or \"Origen\") is pleased to announce that it has entered into an agreement with Hawthorn Resources Corp., (\"Hawthorn\") a private British Columbia Corporation engaged in mineral exploration, to acquire a 75% interest in its Broken Handle project located 50km north of Grand Forks, BC. \"The business plan adopted at the Company's inception of partnering with capable groups to advance certain assets is starting to gain momentum. The signing of this option agreement with Hawthorn is yet another milestone achieved in generating value for our shareholders,\" states Blake Morgan, President. Option Terms Hawthorn can earn a 75% interest in the Broken Handle property by paying Origen a total of $250,000, issuing 1 million shares and incurring expenditures of $500,000 over a 3 year period. Hawthorn intends on applying for a listing on a Canadian stock exchange in the near future. Origen and Hawthorn have one common director whom has abstained from board voting in relation to this transaction. About the Broken Handle Project Located 50km north of Grand Forks B.C. the Broken Handle project covers historical and new mineral showings similar in nature to those found at the prolific Franklin Camp1 located 3 km north. Over a 76 year period, the Franklin Camp produced greater than 1,392,000 oz. Ag and 55,500 oz Au2 (UNION Minfile 082ENE003 Production Detail Report). Two distinct styles of mineralization are evident at the Project; polymetallic epithermal veins (Ag-Pb-Zn-Cu +/- Au), potentially related to the regional Granby Fault and Cu-Pb-Zn-Ag-Au skarns associated with limestone and marble lenses in contact with intrusive rocks. Exploration work over the last two years resulted in the discovery of several new showings, and the rediscovery of old mineral workings. The most significant achievement was locating the Morrell Camp that is a series of mineralized historical workings that have not seen exploration work since the late 1920s. Patrick McLaughlin, P Geo., a Qualified Person as that term is defined in NI 43-101 has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release. About OrigenOrigen is an exploration company engaged in generating, acquiring and advanc...