Origen Starts 885 Line Kilometre Airborne Magnetic and VTEM Geophysical Survey Over Middle Ridge Project in Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - January 21, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the "Company" or "Origen") is pleased to announce the commencement of an 885 line kilometre airborne magnetic and VTEM survey on its 7,875 hectare Middle Ridge Gold Project in Newfoundland.
In the Exploits Subzone gold belt, high resolution magnetics and EM surveys have been demonstrated to highlight geologic structures that are critical in exploration for structurally hosted orogenic gold. Origen has contracted Geotech Ltd. of Aurora, Ontario to conduct the survey. Lines will be flown at 100 metre spacing to provide high resolution magnetic and electromagnetic (EM) data, which are imperative for identifying the deep-seated structures that host orogenic gold.
"We are excited to take this opportunity to conduct an airborne survey well prior to the spring season and the planned commencement of our field program. Information gained from this survey will benefit us greatly in preparation for our exploration program by allowing us to prioritize exploration targets for in field follow-up and will provide invaluable aid in the subsequent development of quality drill targets," states Company President Blake Morgan.
Incentive Stock Option Grant
Origen has granted 1.4 million incentive stock options, exercisable into common shares of the Company, to its directors, officers, employees and consultants. These options have been set in accordance with the Company's stock option plan and are exercisable at a price of 23 cents for a five-year period.
Origen is an exploration company engaged in generating, acquiring and advancing base and precious metal properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia, a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia, and a 100% interest in the Middle Ridge gold project in Newfoundland.
On behalf of Origen,
For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72466