 |
|||||||||
 |
 |
||||||||
Toronto, Ontario, TheNewswire, January 17, 2023, NewOrigin Gold Corp. (TSX-V: NEWO) has received final geochemical results from the soil, humus and rock sampling program completed during the fall of 2022 at its Sky Lake Gold project. The 9,100 hectare Sky Lake Project is a 27 km long property southeast of the Pickle Lake Gold District in northwestern Ontario. Results have identified coincident humus and soil geochemical anomalies that further define and outline priority target areas for a planned summer 2023 drill program.
Geochemical samples were collected over an area of approximately 2.5 square kilometres east of the recently acquired internal “Koval” patent claims (Figure 1). The Koval claims, located at the center of the Sky Lake property, host a small historic gold deposit along a northeast trending sequence of altered volcanic and sedimentary rocks.
Click Image To View Full Size
“NewOrigin’s first geological field program since acquiring 100% of the Koval claims from Barrick Gold has identified coincident soil and humus anomalies within the sampling area along the eastern margin of the newly acquired claims. NewOrigin believes the most prospective areas to host a Tier 1 gold deposit lie within the volcanic and sedimentary rock sequence between the iron formation trend and the south break trend. Possible extensions and repetitions of the gold mineralization found at the historic Koval gold deposit have also been further refined by this program. A summer 2023 drill program is planned to test within the Koval gold deposit area at surface and at depth, its easterly extension and possible series of en echelon structures to the north and south.” commented Andrew Thomson C.E.O. of NewOrigin Gold.
Figure 1: Surface projection of soil and humus geochemical anomalies.
A total of 574 humus and 450 soil samples were taken at surface and 20 centimetres below surface, respectively. Lower analytical detection limits were 1 part per billion gold (“ppb Au”) for humus and 5 ppb Au for soils. A threshold for anomalous gold in humus was set at 4 ppb Au with 17 samples (3.0% of total humus samples) returning values of 4 ppb Au to a maximum value of 244 ppb Au. A threshold for anomalous gold in soils was set at 20 ppb Au with 20 samples (4.4% of total soil samples) returning values between 20 ppb Au and a maximum value of 931 ppb Au. Humus and soil samples containing anomalous gold complement each other well, delineating five new prospective target areas of interest. These results, when combined with results of earlier work, outline distinct clusters of anomalous gold in overburden across a 2 kilometre area east of the Koval deposit (Figure 1). Two grab samples of rock taken from outcrop nearby the surface expression of the Koval gold deposit returned 0.7 and 3.4 g/t Au, confirming the presence of significant gold grades occurring in localized bedrock exposures.
Gold-bearing altered volcanic and sedimentary rock and iron formation have been identified in multiple locations at Sky Lake. A summer 2023 drill program is planned to test the historic Koval gold deposit and new prospective targets identified by the Company’s 2022 work program along extensions to the Koval deposit as well as at the iron-formation trend. Historical drill results from the Koval Zone include 8.78 g/t Au over 16.0 metres within 100 metres of surface. The drill permit is in place and NewOrigin remains actively engaged with local First Nation communities in order to responsibly move forward with its drill program.
Technical Information
Geochemical analyses were conducted by Activation Laboratories Ltd (Actlabs) located in Thunder Bay, Ontario. Gold in soils was analyzed by fire assay with atomic absorption finish on a 15 gram sample. The detection limit for gold is 5 ppb. Trace elements were analysed using an Aqua Regia ICP-MS technique with various detection limits dependent on element. Gold in humus was analyzed by Instrumental Neutron Activation (“INAA”) using a 15 gram sample. The detection limit for gold is 1 ppb. Trace elements were analyzed by INAA with various detection limits dependent on element. The base metals copper, lead and zinc were also analyzed using an Ash Aqua Regia ICP technique.
Results obtained from grab samples of rock are not indicative of the overall metal content of the rock unit sampled. Accuracy of gold content in historic drill intersections cannot be independently verified by the Company. Values quoted in this news release were obtained from published records stored by the Ontario government in mineral assessment files.
This press release and technical data referred to in the release was reviewed by Mr. Mark Petersen, P. Geo., an advisor to NewOrigin. He is a Qualified Person as defined by National Instrument 43-101.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. is a Canadian gold exploration company focused on drill discovery at its Sky Lake gold project in the Canadian Shield. NewOrigin’s management and Board have extensive experience in the delineation and development of gold deposits. NewOrigin trades on the TSX Venture Exchange under the ticker “NEWO”.
For Further Information Contact:
Andrew Thomson, CEO
Ph: 905 727-1779 or visit www.neworigingold.com
Cautionary Statement regarding 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.
Copyright (c) 2023 TheNewswire – All rights reserved.
