NewOrigin completes drilling at the North Abitibi gold project
The press wire – January 11, 2022 – NewOrigin Gold Corp. (TSXV: NEW) completed a 1,875 meter diamond drilling program at its North Abitibi gold project in northeastern Ontario. The drilling program consisted of four holes testing six discrete Induced Polarization Chargeability (“PP”) anomalies near known gold zones.
Hole NA-21-01 was drilled near the center of the 10 kilometer long property in the previously identified Road gold zone. He tested two separate IP anomalies. The first was intersected near the surface at the top of the hole and identified a pyritic zone that had not been drilled before. The second IP anomaly, which represented a depth extension of the Road gold zone, was intersected further downhole at a vertical depth of approximately 350 meters, or approximately 100 meters below the extent of the previous drilling. This intersection was intended to track high grade intersections up to 17.8 grams per tonne (g / t) gold over 1.6 meters in nearby historic drill holes.
Hole NA-21-02 was located 4 kilometers east of hole 1 and was drilled to test the extension of a PP anomaly where a previous drill hole had returned results of 0.74 g / t gold over 20.0 meters including 1.44 g / t gold over 6.0 meters.
The remaining two holes (NA-21-03 and NA-21-04) were located approximately 1.5 kilometers northeast of hole 1 along a segment of the Spade Lake gold zone. Both holes tested the near-surface source of a PP anomaly to the north and parallel to the Spade Lake zone and the continuity of the Spade Lake zone under the previous drilling which was limited to a depth of 150 meters. Previous shallow drilling near NA-21-03 intersected 23.4 g / t gold over 1.5 meters and 500 meters to the west at hole NA-21-04, previous intersections included 6.1 g / t gold over 6.0 meters. The two current holes intersected large areas of pyritic rock confirming the source of the targeted deep IP anomalies and the possible extension of the Spade Lake zone.
The Company is satisfied with the widely spaced preliminary drill holes it was able to complete.
The 2021 program encountered some technical difficulties associated with the early winter conditions and the planned initial drilling footage was not met. However, all the main targets have been cross-referenced in the current program and valuable technical information has been obtained for future programs.
All sampling has been completed and analyzes for the 2021 drilling program are pending. The final results will be published upon receipt and review by the Company.
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Figure 1: Target areas of northern Abitibi
About Abitibi Nord
Abitibi Nord is a 10 kilometer long property, covering more than 4,200 hectares stretching along the “Casa Berardi Break”. The property is located approximately 120 kilometers northeast of the town of Cochrane, Ontario, near the Ontario-Quebec border, approximately 40 kilometers west of the Casa Berardi gold mine in Hecla and approximately 50 kilometers south of Agnico Eagle’s Detour Lake gold mine. Nearby infrastructure includes power lines serving the Detour Lake mine with freeway and gravel road access.
NewOrigin holds a 100% interest in the Abitibi North claims. Claims are subject to a right of return held by Vista Gold Corp. that once NewOrigin has spent $ 2,000,000 on the property, Vista has the option of recouping 51% interest by spending $ 4,000,000 on the property over three years. If Vista refuses to roll back, Vista’s interest will revert to a 3% NSR royalty. NewOrigin can buy back 1% NSR for $ 1,000,000.
The technical information contained in this press release has been reviewed by Mr. Mark Petersen, P. Geo. Mr. Petersen is a technical advisor to the Company and a Qualified Person within the meaning of National Instrument 43-101.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin Exploration Ltd.) is a well-funded Canadian gold exploration company focused on discovery by drilling on its North Abitibi and Sky Lake gold projects in the Canadian Shield. NewOrigin’s management and board have extensive experience in delineating and developing gold deposits. The company’s shareholders include O3 Mining Inc. and Osisko Mining Inc. NewOrigin Gold trades on the TSX Venture Exchange under the symbol “NEWO”.
Neither the 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.
Caution regarding forward-looking statements:
Neither the 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 includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe the company’s future plans, objectives or goals, including words indicating that the company or management expects a condition or reported result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “discount”, “may”, “could”, “would”, “will” or “will”. Because forward-looking statements are based on assumptions and deal with 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. The risks, uncertainties and other factors involved in 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 contained in this press release includes, without limitation, the intention to achieve the foregoing, the Company’s objectives, goals or future plans, statements, exploration results, mineralization potential, mineral resource estimate, mining exploration and development plans, timing of commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from this forward-looking information include, without limitation, the ability of the Company to obtain all required approvals relating to the foregoing, the ability of the Company to predict or counter the potential impact of COVID-19 coronavirus on factors relevant to the Company’s commercial failure to identify mineral resources, inability to convert estimated mineral resources into reserves, inability to complete a study of feasibility that recommends a production decision, the preliminary nature of the metallurgical test results, delays in obtaining or failure to obtain government, environmental or other approvals required for the project, political risks, inability to meet the ” obligation to accommodate First Nations and other Indigenous peoples, uncertainties relating to the availability and x costs of financing needed in the future, changes in stock markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in project development, investment costs and Operating estimates vary significantly and other risks involved in the mineral exploration and development industry, and risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in the preparation of forward-looking information in this press release are reasonable, one should not place undue reliance on such information, which only applies as of the date of this press release. press release, and no assurance can be given as such events will occur within the timeframe disclosed or will not occur 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, except as required by law.