This work is conducted on behalf of a gold and base metal exploration Alliance entered into between Tri Origin and Sumac Mines Ltd. (“Sumac”) a subsidiary of Sumitomo Metal Mining Co. Ltd. (“Sumitomo“). Sumac is funding Alliance activities to a maximum total expenditure of C$4.5 million. The current field work comprises part of a 2016 work program that has a total budget of $955,000.
Field work will focus on “Target Area 1″, an area selected by the Alliance for initial follow-up of results obtained from a VTEM-plus airborne electromagnetic and magnetic survey flown for the Alliance as announced by Tri Origin in a news release dated April 4, 2016. Field work will consist of geological investigations, prospecting and line cutting in the vicinity of newly detected airborne geophysical anomalies. Deep-looking Induced Polarization (“IP”) geophysical surveying will be conducted at selected areas to detect zones of disseminated sulphide which may be associated with covered, and as yet, unrecognized gold deposits. The objective of the field work is to delineate and prioritize drill targets, which may represent both massive and disseminated sulphide zones for an upcoming drill program.
Field work is expected to be complete by mid-July. Shareholders will be informed of the results of this work and of plans for follow-up diamond drilling as they are formalized.
The Alliance is focused on discovery of high-grade and high-value gold and gold-rich, poly-metallic sulphide deposits along the southern margin of the Abitibi Greenstone Belt – one of the most prolific metal producing areas in the world. In the Cobalt-Temagami region, the prospective Archean-age volcanic rocks are covered by younger, regionally extensive, Proterozoic-age sedimentary rocks. These cover rocks precluded historic prospecting and limited the effectiveness of earlier geophysical equipment which had minimal depth penetration capability. Furthermore, much of this terrain was excluded from exploration during the time period between 1970 and 2000 due to land cautions and exploration moratoriums.
Alliance activities within the southern Abitibi Greenstone Belt provide a fully-funded opportunity for Tri Origin to capitalize on its strategy of identifying and acquiring prospective, district-scale properties in well-mineralized mining areas and advancing these properties toward making new discoveries.
Read the press release here.