Business
Origen Resources Signs Definitive Agreement to Acquire a 100% Interest in Highly Prospective Gold and Copper Properties in BC's Golden Triangle
Vancouver, British Columbia--(Newsfile Corp. - June 1, 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 1, 2020) - Origen Resources Inc. (CSE: ORGN) (the \"Company\" or \"Origen\") is pleased to announce that it has signed a Definitive Agreement whereby it has acquired a 100% interest in the 26,771 hectare (ha) LGM property and an option to acquire a 100% interest in the 3,971 ha Wishbone property located in British Columbia's renowned Golden Triangle from Orogenic Regional Exploration Ltd. (the \"Vendor\" or \"Orogenic\"). The LGM project hosts three highly prospective exploration zones comprising the Red, Grizzly and Lucifer zones, and borders Evergold Corp.'s Snoball project1. In the Red Zone area the newly exposed gossanous exploration targets lie within Hazelton Group rocks along the Northmore Fault and bear geological and structural similarities to mineralization on the adjacent Snoball property immediately to the northwest. The Grizzly prospect is a Cu-Au porphyry target defined by a 1200 m x 500 m Cu-Au soil anomaly and the Lucifer target consists of a 300 m x 300 m gold-in-soil anomaly discovered by Noranda in 1991 and has only experienced minimal field exploration to date. The Wishbone project, located 12km to the west of LGM, hosts numerous high-grade precious metal showings and has only seen sporadic exploration work since the 1980's. \"We are very pleased to have completed the acquisition of such a prospective and large land package in the highly competitive Golden Triangle. Opportunities like this are not available very often and Origen is excited to get to work unlocking the potential of these projects,\" states Gary Schellenberg, CEO. 2020 Exploration plans The Company's geologist are continuing to compile the extensive amount data from the newly acquired assets with the goal of planning and implementing an aggressive exploration program for this year. As a result of this process, a large amount of new data has been uncovered that is leading to new robust exploration targets being identified. The Company is in the process of verifying this newly uncovered data and will provide an update shortly. (1) Referenced nearby historic resources, deposits and mines provide geologic context for the Project, but are not necessarily indicative that the Project hosts similar potential, size or grades of mineralization. J. Harrop, P. Geo., a Qualified Person as d...