Tri Origin Provides an Update on Sky Lake Project and New Board and Management Appointments
Aurora, Ontario, April 21, 2021, Tri Origin Exploration Ltd. (TSX-V: TOE) (“Tri Origin” or the “Company”) announces an update on the ongoing exploration efforts at its Sky Lake Project in the Pickle Lake mining Camp in northwestern, Ontario. The Company also announces Board of Director and Management appointments.
The planned Q1 2021 drill program was postponed due to COVID-19 outbreaks in the nearby community and other limitations imposed by COVID-19, which resulted in permitting delays. Drilling will commence immediately upon approval of the permit application and when conditions allow for our team to safely execute the plan, expected in mid to late calendar Q2.
Tri Origin has contracted EDS Drilling Services to complete an initial 3,000 metre (m) diamond drill program primarily targeting the historic Koval gold deposit at Sky Lake. The drilling program will be helicopter supported from Pickle Lake with a drill camp located on the property. Drill targeting at Koval has been planned using a compilation of all information from the Sky Lake property including extensive historic drilling at Koval. This first phase of drilling is designed to confirm the historical deposit as well as test nearby intersections of gold in iron formation reported in historic records and geophysical targets identified by the Company. Additional induced polarization (IP) surveys and new property-scale mapping and sampling campaigns are planned over the summer.
“We are excited by the prospect of getting the drill onto Koval, for our first test of this compelling gold target” commented Mark Santarossa, President of Tri Origin. “This initial drill phase will be used to confirm and refine our modelling of the identified mineralization. New IP information and mapping this summer combined with an already extensive geophysical and geochemical database for the property will provide for broader drill targeting as our work progresses. We look forward to further drilling for this target later in the year. In addition, we are excited to make the final steps in our corporate reconfiguration, bringing Tri Origin new strengths and retaining the valuable contributions of long-standing board members.”
Board of Director and Management Appointments
Mr. Andrew Thomson, CEO of Tri Origin, and Mr. Mark Santarossa, President of Tri Origin, have been appointed to the Board of Directors. Mr. Jerry Blackwell and Mr. Mark Petersen have stepped down from the Board but will remain as advisors to the Company. The Company thanks Messrs. Blackwell and Petersen for their valued contributions and look forward to their continued efforts.
The Company has also appointed Mrs. Diana Mark as Corporate Secretary of Tri Origin. Ms. Mark is the President of Greystone Corporate Services Inc, and has been providing corporate governance, regulatory services and the facilitation of financings for public companies for over 30 years.
About Sky Lake
The Sky Lake Project is a 27-kilometre (km) long property that covers approximately 12,800 hectares (ha) in the Red Lake – Uchi Sub-Province in northern Ontario, Canada. The property is located in the Pickle Lake Gold Mining District, approximately 30 km southwest of the town of Pickle Lake, where over 4 million ounces of gold have been produced historically.
The majority of exploration work at Sky Lake was completed almost 60 years ago at the Koval target by Pickle Crow & Hasaga GML, operators of nearby mines at Pickle Lake, defining a near-surface gold deposit from extensive shallow drilling over a 900 m strike length within an interpreted horizon of 1,600 m. Only a limited amount of work was conducted during the 1980s, all of which focused on Koval, providing an excellent opportunity for expansion. Past drilling (133 holes) has delineated sub-vertical mineralization, which is interpreted to extend in three parallel zones along regional stratigraphy. The historical deposit is well tested to 100 m depth along 600 m of strike and several holes have intercepted mineralization to 200 m below surface.
The Koval target is held under option by Tri Origin, whereby the Company may earn a 96% interest in the patented claim group. The remaining claims at Sky Lake are 100% owned by the company.
William McGuinty P. Geo. of OTD Exploration Services Inc., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this news release.
About Tri Origin
Tri Origin Exploration Ltd. is a gold exploration company listed on the TSX Venture Exchange (TSX-V: TOE). The Company's objective is to increase shareholder value through the discovery of new economic ore deposits leveraging its broad experience in well-known, past producing mining camps in Canada’s Greenstone Belts. Tri Origin’s current focus is exploring on its flagship Sky Lake Project in the past producing Pickle Lake Mining Camp and the North Abitibi project on the prolific Abitibi Greenstone Belt along the Casa Berardi Break in Ontario.
Tri Origin Exploration Ltd.
Forward Looking Statements:
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 News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the intention to complete the foregoing, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to obtain all approvals required in connection with the foregoing, the Company’s ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company’s business failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.