Diamond Exploration Agreement At Tri Origin’s South Abitibi Property
September 26, 2019
Aurora, Ontario- Tri Origin Exploration Ltd (TSX-V:TOE) (“Tri Origin” or the “Company”) is pleased to announce that an agreement has been reached with De Beers Canada Inc. to conduct exploration and core drilling at the Company’s South Abitibi project. De Beers Canada Inc. (“De Beers Canada”) has identified targets which it believes may represent kimberlite. The agreement allows De Beers Canada access to conduct preliminary drilling and to evaluate for diamond content if these targets are proven to be kimberlitic rocks. Pending results, a more comprehensive property earn-in agreement containing industry-standard terms could then be negotiated and entered into.
The diamond exploration program proposed by De Beers Canada will be the first time these targets will be tested. Management is pleased and excited to have De Beers Canada participate in its mineral exploration efforts within the South Abitibi property.
Drilling is expected to commence during mid-October and will be followed by laboratory evaluation of targeted rocks if warranted. Shareholders will be updated on results of the program as they become available.
The South Abitibi property covers a complex geological environment spanning a 15 kilometre by 5 kilometre area located 20 kilometres southwest of the town of Cobalt in the Cobalt-Temagami region of Ontario. The property is underlain by Archean-age rocks of the southern Abitibi Greenstone Belt which are covered by a blanket of younger Proterozoic-age sedimentary rock and Nipissing diabase. This geological environment is prospective for Abitibi-type gold and base metal deposits and hosts the nearby, world-class silver-cobalt mining district to the northeast and the Sudbury nickel-copper district to the southwest. The property is within a large-scale crustal corridor and historically, diamondiferous kimberlite has been identified throughout the region.
Previous field work and drilling by Tri Origin has identified new gold zones, copper/nickel and cobalt/silver occurrences all of which warrant further work. The agreement with De Beers Canada is specific to diamonds and continued exploration for precious or base metals may be conducted by Tri Origin or through additional partnerships.
This agreement with De Beers Canada provides a fully-funded opportunity for Tri Origin to capitalize on its strategy of identifying and acquiring prospective, district-scale, properties in well-mineralized mining areas and advancing these properties toward making new discoveries.
Dr. Robert Valliant, President
Tri Origin Exploration Ltd.
Tel: (905) 727-1779
Tri Origin Exploration Ltd. is publicly listed on the TSX Venture Exchange under the trading symbol TOE. Tri Origin is a leading Canadian exploration company with gold and base metal projects in Canada.
CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Tri Origin's periodic reports including the annual report or in the filings made by Tri Origin from time to time with securities regulatory authorities.