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Origen Signs LOI to Acquire a 100% Interest in Highly Prospective Gold and Copper Properties in BC's Golden Triangle
Vancouver, British Columbia--(Newsfile Corp. - May 14, 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. - May 14, 2020) - Origen Resources Inc. (CSE: ORGN) (the \"Company\" or \"Origen\") is pleased to announce that it has entered into a Letter of Intent (the \"LOI\") whereby it can acquire a 100% interest in the 26,771 hectare (ha) LGM property and the 3,971 ha Wishbone property located in British Columbia's renowned Golden Triangle from Orogenic Regional Exploration Ltd. (the \"Vendor\") Key Highlights The LGM and Wishbone projects host significant mineralized gold and copper enriched gossans and sulphide occurrences. The LGM property borders Evergold Corp.'s Snoball1 gold property and bears geological and structural similarities. Wishbone property is contiguous with the eastern border of Teck/Newmont's Galore Creek copper gold mineral development project which is one of the world's largest undeveloped copper-gold-silver deposits1. Previous exploration and receding snowlines have set the stage for discovery at LGM and Wishbone. B.C. Geological Survey's \"Red Line,\" interpreted to be spatially significant to most major gold and copper deposits in the Golden Triangle transects the LGM property. Mineral development, hydro and forestry work continue to reduce exploration costs with in the Golden Triangle. Both properties are in close proximity or crossed by the Galore Creek access road, and to Highway 37. \"The LGM and Wishbone properties give Origen a launch pad for discovery in BC's mineral rich Golden Triangle. The availability of such a large, well endowed, land package was a unique opportunity and the Origen team is excited to get to work unlocking the potential of this flagship asset,\" states Gary Schellenberg CEO of the Company. LGM Property The LGM project is comprised of 42 contiguous mineral tenures totalling 26,771 ha. Highway 37 is approximately 2.5 km east of the eastern edge of the property, and the Galore Creek access road runs along and through the southern boundary. A combination of Cu-Au porphyry and gold vein exploration targets have been identified at LGM and the recent identification of many prospective targets, that show mineralogical and geological similarity to important nearby deposits and discoveries, reflect the limited exploration conducted since the 1970's. The Red Zone, Lucifer and Grizzly occurrences are considered by Origen's geological t...