Tri Origin Exploration Outlines Gold Exploration Targets for 2012 Field Season
Tuesday , 20 Mar 2012 Tri Origin Exploration
Markham, Ontario CANADA, March 19, 2012 /FSC/ - Tri Origin Exploration Ltd. (TOE - TSX Venture), ("Tri Origin" or the "Company") is pleased to announce that preparation is underway for commencement of the 2012 field season. Programs are being planned for Tri Origin's three main gold projects in northern Ontario: Red Lake Extension, Sky Lake and North Abitibi. The objective is to conduct diamond drilling at each of the three projects during 2012.
In February 2012, Tri Origin entered into an agreement with Osisko Mining Corporation to advance its 100%-owned Red Lake Extension (RLX) property near Red Lake, Ontario. Osisko has an option to earn a 51% interest in the RLX property by spending $5 million on exploration over a four year period. A first year exploration commitment of $600,000 has been agreed to by Osisko. Tri Origin will manage the first year program under the guidance of a management committee comprised of representatives of both companies. It is anticipated that field work will commence in May and will include detailed geological, geophysical and geochemical surveying in preparation for a drill program to be conducted later in the season.
At the Company's Sky Lake project, located southwest of Pickle Lake, Ontario, six gold targets have been selected within an area of 1.5 by 0.5 kilometres in preparation for a drill program. These targets were defined by induced polarization ("IP") geophysical surveying conducted at Sky Lake in late 2011. The selected targets are in areas that correlate with strong gold anomalies based on recent soil geochemical results and are nearby significant, historic gold occurrences. The drill program at Sky Lake is expected to commence during May 2012 and results from the initial phase of drilling are anticipated during the summer of 2012.
Following the drilling program at Sky Lake, Tri Origin expects to continue exploration at its North Abitibi property, located 150 kilometres northeast of Timmins, Ontario. Recent excavating at North Abitibi exposed the Road Gold Zone at surface and high-grade gold assays were returned from sampling (see news release dated December 12, 2011). Additional excavating and detailed sampling of this gold occurrence will be conducted during the coming summer field season. Geophysical surveying and diamond drilling is planned for follow-up at North Abitibi later during 2012.
Red Lake Extension
RLX is a gold exploration project covering an area of approximately 121 square kilometres located at the southeast part of the Red Lake Gold Mining District contiguous with Goldcorp Inc.'s Red Lake Mine property. The highly prolific Red Lake District hosts major, operating and past-producing gold mines and has produced over 20 million ounces of gold.
Tri Origin has identified the extension of the Red Lake Mine Trend and Balmer volcanic rocks, host to the important gold deposits at Red Lake as extending across its property. Prior to Tri Origin's work, the RLX property was essentially unexplored for gold.
Tri Origin's Sky Lake project is comprised of 100% interest in 24 staked claims as well as option agreements to earn an initial interest of 80% in 8 claims and 51% interest in 2 claims. The claims cover a prospective area of over 79 square kilometres which contains a number of gold occurrences over a 28 kilometre long belt of prospective rocks. The property comprises part of an extensive and well-mineralized greenstone belt and lies midway between the past-producing gold deposits of the two million ounce Pickle Lake Gold District to the northeast and the Golden Patricia gold mine to the west.
Current work is focusing on historic gold occurrences within volcanic rock and iron-formation at the northeast and central parts of the Sky Lake property. These occurrences share geological similarities with currently producing gold mines and Tri Origin believes there is significant potential for new discovery within covered, along-strike extensions of the rock units which host these gold occurrences.
Through wholly-owned staked claims and an option to purchase agreement, Tri Origin has a 100% interest in its North Abitibi gold exploration project which is comprised of 16 claims covering an area of 28 square kilometres. The property is within the Abitibi Greenstone Belt, one of the world's most prolific metal-producing regions and is located; 150 kilometres from the important Kirkland Lake and Timmins Gold Districts, 50 kilometres south of the Detour Lake gold deposit, and 40 kilometres west of the Casa Berardi gold mine in Quebec. A number of gold occurrences have been identified on the property and require additional drilling to determine their economic potential.
For further information, please refer to the Company's website www.triorigin.com or SEDAR www.sedar.com or contact:
Dr. Robert Valliant, President
Tri Origin Exploration Ltd.