Origen Capitalizes on Lithium First Mover Advantage in Newfoundland with Established Technical Team
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the "Company" or "Origen") is pleased to announce that through its association with the Coast Mountain Group ("CMG"), a leading technical team that has been spearheading lithium exploration around the globe and has developed longstanding relationships with eminent clients such as Ganfeng Lithium Corp., one of the leading global lithium product manufacturers, the Company has been strategically acquiring ground in Newfoundland that has the potential to rival some of the most renowned lithium belts in the world.
The Newfoundland Lithium Belt exhibits all the characteristics of a major lithium rich corridor, that has yet to receive the focus that it deserves due to the attention historically and currently paid to other prospective metals. There are key indicative signs that point to specific target areas with high expectations for the discovery of lithium rich pegmatites.
First and foremost, there are numerous occurrences of pegmatites observed that exhibit highly-favorable lithium-cesium-tantalum ("LCT") geochemical signatures. These fields of pegmatites have provided substantial information and support for the prospectivity for discovery. Through the technical team's expertise, the mapping of the geochemical pathfinders have revealed distinct vectors that will allow the Company to focus in on the more prospective areas in a short and economical period of time.
These geochemical pathfinders, on a regional scale, reveal a distinct corridor that transects Newfoundland and corresponds to the tectonic suture zone hosting the world-class Carolina Tin-Spodumene Belt and the lithium pegmatite occurrences in Ireland that have received significant attention in recent years. In addition, the age of the associated parent granites observed in Newfoundland coincide with the 'sweet spot' occurrence of highly favorable lithium rich pegmatites.
Another key advantage is the ease of access to the most highly prospective areas. Newfoundland's existing road network and available infrastructure will expedite exploration, advancement and any potential development of the Company's projects. Also having tidewater in reasonable close proximity is a major positive.
Demonstrating the credibility of the Company's endeavours, one of the world's largest lithium product manufacturer and supplier, Ganfeng Lithium Corp., holds a 4.7% equity stake in Origen.
John Harrop, P Geo., a Qualified Person as that term is defined in NI 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure in the news release. Mr. Harrop is employed by Coast Mountain Geological Ltd. He is not independent of the Company as defined in NI 43-101.
Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium 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, a 100% interest in the Middle Ridge gold project and a 100% interest in 10 lithium prospects 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/81689