Origin Gold Corporation ("
Origin or the
“
Corporation") (TSX VENTURE: OIC) is pleased to
announce new results of the surface exploration on its gold mining
concession, La Pantera (the “Property”).
Origin continued its surface exploration program
on the Property that covers an area of 1,734 hectares in the gold
rich San Lucas Range, department of Bolivar, in Colombia. The
program is in line with the recommendation of the National
Instrument 43-101 technical report dated August 20th, 2018,
prepared by Pierre O’Dowd.
Regional GeologyOrigin´s
technical team has recently completed the regional geology over the
entire property with more than 100 km of traverses, which led to
the reinterpretation of the structural pattern that controls the
mineralization.
Main Deformation CorridorA
large deformation corridor striking SW/NE, has been identified
cutting diagonally through the property. This large fault/shear
zone, occasionally observed over a width of 200 meters, was
followed inside the concession for over 4.5 km. The results of the
magnetic (“MAG”) survey confirm the position and the extension of
this mineralized trend within the property. Furthermore,
geomorphological observations, outcrops mapping, trenches and
active artisanal mining sites indicate the continuity of this
deformation corridor up to 2.5 km northeast of the property.
The large fault/ shear zone permitted the
emplacement of a typical hydrothermal system characterized by
intense silicification, quartz veins and veinlets as well as
hydrothermal breccia zones showing anomalous gold values, even in
highly gold-depleted meteorized superficial rock occurrences.
The presence of gold is further confirmed by
extensive active saprolite exploitations and numerous small
underground mining operations all over this SW/NE trend. It
is postulated that this large shear zone cuts through older gold
bearing veins and has likely generated secondary extensional faults
allowing the emplacement of gold rich veins systems, during various
hydrothermal events, striking E-W on the west side and striking
NW/SE on the east side of the deformation zone.
Figure #1 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fefecacc-93e0-4b77-afcd-9462d5ef862a
East-West veins systemTo the
west of the large deformation corridor an intense E-W striking
veins system has been observed. This veins system is composed of
numerous parallel veins that extends from south to north (Mina
Matos) in the property and is related to the presence of iron cap
oxides at elevation more than 100 m. The veins are vertical to
sub-vertical and range from 0.10 to 0.50 m in thickness. They are
composed of massive quartz with pyrite, sphalerite and galena with
significant gold values.
In the southwestern portion of the concession,
the geological team found fragments of botryoidal and nodular iron
oxides. The origin of those iron oxide crust blocks was located on
top of hills where an iron laterite cap was observed.
Figures #2 and #3 are available at the following
links :
https://www.globenewswire.com/NewsRoom/AttachmentNg/edf708a3-98c6-4b74-a474-4b5b932542a9
https://www.globenewswire.com/NewsRoom/AttachmentNg/f500b7af-0e18-4977-a92c-5f7c4ef23fad
Northwest-Southeast veins
systemThe geological survey performed in the southeast
portion of the Property, revealed the existence of an intense
system of parallel veins striking NW/SE extending 2 km from Mina
Bulla to Los Pueblos at the southern limit of the concession. To
better define this vein system, 11 trenches were dug and sampled in
this highly meteorized zone. The best gold assay results came from
the initial discovery, an open cut face, with an average of 0.8
gr/ton Au over 13 meters from saprolite and various quartz veins
and veinlets.
Figure #4 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d761bcfb-4748-44a3-ba39-9aa4529df07d
Results from the sampling of these trenches are
deemed interesting, considering that the meteorization process
usually depletes the gold content close to surface. They also show
that the vein system is open to north, towards Mina Bulla
veins.
Technical surveysThe MAG and
the drone surveys are still under way, and are expected to be
completed by the end of October 2019.
In addition the geological team has started to
visit, map and sample all the active underground artisanal mines
totalling over 20 at this time.
Quality Assurance / Quality
Control/All samples were sent to Actlabs in Medellin and
were assayed for gold using the following methods:
- Code 1A2 Au - Fire Assay AA
- Code 1A3 Au - Fire Assay Gravimetric (QOP AA-Au)
The samples were properly located (GPS),
collected, bagged, numbered (paper tag inside each bag and plastic
bag numbered with a marker), described and sealed on site under the
supervision of the geologist. They were transported by truck to
Medellin to an accredited laboratory (Actlabs in Medellin,
Colombia, ISO9001:2015) following established chain-of-custody
protocols.
Qualified PersonThis news
release has been reviewed and approved by Daniel Goffaux, P.Eng., a
Qualified Person as defined by National Instrument 43-101. Mr.
Goffaux is not independent of the Corporation as he acts as
principal technical advisor for the Corporation.
About OriginOrigin is a mineral
exploration company with its exploration activities focused in
Colombia.
Rejean
Gosselin, President and CEO : Tel: 514.303.0950E-mail:
rgminero@gmail.com |
The information set forth in this press release
includes certain forward-looking statements. Such statements are
based on assumptions exposed to major risks and uncertainties.
Although Origin deems the expectations reflected in these
forward-looking statements to be reasonable, the Corporation cannot
provide any guarantee as to the materialization of the expectations
reflected in these forward-looking statements. The Corporation
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this
Release.
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