Tri Origin Exploration Ltd

Published : March 22nd, 2012

AFFILIATE ANNOUNCES APPROVAL FOR DEVELOPMENT OF WOODLAWN RETREATMENT PROJECT

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Keywords :   Australia | Canada | Copper | Gold | Lead | Silver | Zinc |

March 22, 2012

 

 

AFFILIATE ANNOUNCES BOARD APPROVAL FOR THE DEVELOPMENT OF WOODLAWN TAILINGS RETREATMENT PROJECT

 

Tri Origin Exploration Ltd. (TSX-V: TOE) (?Tri Origin? or the ?Company?) is pleased to bring attention to the important news released by its affiliate, TriAusMin Limited, stating that its Board has approved the development of TriAusMin?s Woodlawn Tailings Re-treatment project (the ?WRP?) located 200 kilometres southwest of Sydney, NSW, Australia.  Tri Origin believes that its 29 million share investment in TriAusMin will appreciate and add value for Tri Origin shareholders as TriAusMin moves towards its near-term goal of achieving base and precious metal production at Woodlawn.

 

TriAusMin?s news release of March 22, 2012 entitled ?TriAusMin Announces Go Ahead for Woodlawn Retreatment Project? follows management and board review of a Front-End Engineering Design (FEED) study of March 19, 2012 completed by GR Engineering Services Limited of Belmont, West Australia and an in-house economic evaluation and Business Case.  The WRP is planned to  process 11.2 million tonnes (Mt) of tailings material at a proposed rate of 1.5 Mt per annum to produce separate zinc, lead and copper concentrates containing by-product gold and silver.  WRP is forecast to generate A$199 million in net cash before tax with an Internal Rate of Return (IRR) of 33% over its 7.5 year mine life based on a development capital cost of approximately $A92.8 million. 

 

TriAusMin?s Board approved the development of the WRP subject to securing satisfactory financing arrangements.  Subject to sourcing project funding and statutory approvals, TriAusMin believes the WRP could achieve first commercial production early in 2014.

 

The Base Case Scenario shown below is based on forward curve metal prices and foreign exchange rates as at February 27, 2012.  Currency is expressed in Australian dollars unless otherwise stated:

 

Mineral Reserves(a):       11.2 million tonnes at 2.2% zinc, 1.3% lead, 0.5% copper, 31 grams per tonne silver, 0.3 grams per tonne gold

 

Mining:                         4,300 tonnes per day utilising hydraulic mining

Mine Life:                      7.5 years

Processing:                  Conventional milling and flotation to produce copper, zinc, and lead concentrates containing silver and gold

Development Capital:    $92.8 million including a $5.6 million contingency

Operating Costs:           $22 per tonne processed

Total NSR Revenue:      $586 million  

Pre-Tax Net Cash Flow: $199 million

Pre-Tax NPV (10%):       $81 million

Capital Payback:           3.5 years from production start-up

C1 Unit Cost:                $0.12 per pound payable Zn (post by-product credits)

Pre-Tax Project IRR:      33%

 

The former Woodlawn Mine operated from 1978 to 1998 and over this period it treated 13.8 Mt of ore grading 9.1% zinc, 3.6% lead, 1.6% copper, 74 grams per tonne of silver and 0.52 grams per tonne of gold. The tailing dams that remain from the treatment of this ore are the subject of the WRP and contain economic levels of metals that warrant reprocessing utilising modern technology.  Hydraulic mining will be used to recover the tailings in a slurry and standard sulphide flotation processes using modern fine-grinding techniques to enhance metallurgical recoveries will be used to produce the separate copper, lead and zinc concentrates with by-product silver and gold.

The full release can be accessed from TriAusMin?s website www.triausmin.com or SEDAR www.sedar.com.

 

Tri Origin holds a substantial investment of 29.4 million ordinary shares in TriAusMin and remains its largest shareholder after initially listing its subsidiary on the Australian Securities Exchange and more recently, on the Toronto Stock Exchange. In addition to Tri Origin?s gold exploration programs in the Canadian Shield, it is Tri Origin?s belief that this investment will appreciate and add value for Tri Origin shareholders as TriAusMin works towards its near-term goal of achieving base and precious metal production at Woodlawn.

 

For further information, please refer to the Tri Origin?s website www.triorigin.com  or SEDAR www.sedar.com or contact:

 

Dr. Robert Valliant, President

Tri Origin Exploration Ltd.

Tel: (905) 727-1779

E-mail: invest@triorigin.com

 

Tri Origin Exploration Ltd. is publicly listed on the TSX Venture Exchange under the trading symbol TOE. Tri Origin is a leading Canadian exploration company with gold and base metal projects in Canada.  Tri Origin has leveraged exposure to mineral discoveries in Australia through its equity interest in TriAusMin Limited which holds gold and base metal resource-based assets in New South Wales.

 

(a)    The information in this news release that relates to Mineral Resources or Ore Reserves associated with the Woodlawn Retreatment Project is based on information compiled by qualified person, Mr. Richard Lambert, P.E. a professional engineer and Registered Member of SME. Mr. Richard Lambert is Principal Mining Engineer and Executive Vice President of Roscoe Postle Associates Inc.  He is independent of TriAusMin applying the test set out in Section 1.4 of NI 43-101. He has sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the ?Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves? (the JORC Code) and by reason of his education, affiliation with a professional association (as defined in NI43-101) and past relevant work experience, fulfils the requirements to be a "qualified person" for the purposes of NI43-101.

 

Data and Statistics for these countries : Australia | Canada | All
Gold and Silver Prices for these countries : Australia | Canada | All

Tri Origin Exploration Ltd

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ISIN : CA89557L1031
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Tri Origin is a cobalt and nickel exploration company based in Canada.

Tri Origin develops cobalt, nickel, copper, gold, lead, silver and zinc in Australia, and holds various exploration projects in Australia and in Canada.

Its main assets in development are WOODLAWN UNDERGROUND and WOODLAWN RETREATMENT in Australia and its main exploration properties are OVERFLOW, CALARIE, LEWIS PONDS and WOODLAWN MINING DISTRICT in Australia and RED LAKE EXTENSION / CONFEDERATION, BURNTBUSH, COCHENOUR and CITADEL CUSTOM GOLD (SURLUGA) in Canada.

Tri Origin is listed in Canada and in Germany. Its market capitalisation is CA$ 20.9 millions as of today (US$ 16.8 millions, € 13.9 millions).

Its stock quote reached its highest recent level on April 05, 2007 at CA$ 1.39, and its lowest recent point on March 18, 2020 at CA$ 0.01.

Tri Origin has 99 370 000 shares outstanding.

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Annual reports of Tri Origin Exploration Ltd
AUSTRALIAN AFFILIATE FILES ANNUAL REPORT
TOE 2008 Annual Report
Financings of Tri Origin Exploration Ltd
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8/23/2010TOE News Release Aug 23, 2010 - Tri Origin Announces Flow-Th...
12/29/2009Flow Through Placement Completed
9/26/2008TOE ANNOUNCES CLOSING OF $1MILLION FLOW-THROUGH PRIVATE PLAC...
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7/8/2010(Lewis Ponds)Affiliate Reports on Progress at Lewis Ponds Gold Project
6/30/2010(Red Lake Extension / Confederation) Field Program Prioritizes Drill Targets
2/23/2010(Lewis Ponds)Affiliate commences airbone geophysical survey of Lewis Pond
4/6/2010(Woodlawn Mining District)Drilling Update at Woodlawn
9/8/2009(Red Lake Extension / Confederation)Drilling Program Complete At Red Lake Extension Project
7/7/2009(Red Lake Extension / Confederation)Commences Drilling at Red Lake
5/27/2009(Red Lake Extension / Confederation)Commences Exploration at Red Lake
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11/28/2008(Red Lake Extension / Confederation)DRILLING PROGRAM COMPLETE AT RED LAKE EXTENSION PROJECT/MANA...
11/3/2008(Red Lake Extension / Confederation)ON TOE DRILLING AT RED LAKE, ONTARIO & AUSTRALIAN AFFILIATE ...
9/29/2008(North Abitibi)TOE News Release - Summer Drilling Program Complete, North A...
8/1/2008AUSTRALIAN SUBSIDIARY REPORTS COMPLETION OF WOODLAWN RETREAT...
7/4/2008(North Abitibi)Commences Drilling at North Abitibi
7/2/2008(Keewatin)ACQUIRES 100% INTEREST IN KEEWATIN PROPERTIES (BHP)
4/30/2008(Woodlawn Underground)Mineral Resources Upgraded and Feasibility Study Nearing Com...
4/7/2008(Red Lake Extension / Confederation)AIRBORNE AND GROUND GEOPHYSICAL PROGRAMS DEFINE NEW DRILL TA...
3/6/2008(Woodlawn Underground)Woodlawn Zinc-Copper Projects Update
1/29/2008(Red Lake Extension / Confederation)Land Holdings increased and Airborne Geophysical program com...
12/18/2007(Woodlawn Underground)Drilling commences to add to Tailings Resource at Woodlawn
12/10/2007(Woodlawn Underground)Feasibility Study Progress at Woodlawn, NSW
10/31/2007(Keewatin) Drilling Results at Keewatin, Copper, Gold & Uranium Projec...
10/1/2007Gold Targets Identified by Overburden Drilling, RLX Project,...
9/11/2007(Woodlawn Underground)Woodlawn Zinc - Copper Projects update
6/25/2007Drilling program in progress at Red Lake Extension project, ...
4/2/2007(Woodlawn Underground)WOODLAWN UNDERGROUND PROJECT TO PROCEED TO FEASIBILITY
Corporate news of Tri Origin Exploration Ltd
9/23/2015IIROC Trading Resumption - TOE
9/23/2015Tri Origin Stakes Properties on Behalf of Abitibi Gold & Bas...
9/23/2015IIROC Trading Halt - TOE
7/9/2015Field Program Completed at Tri Origin's Sky Lake Gold Projec...
4/24/2013April 24th 2013 Positive Return from Sale of Tri Origin's In...
5/22/2012Commences at Red Lake
3/19/2012GOLD EXPLORATION TARGETS OUTLINED FOR 2012 FIELD SEASON
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5/27/2011files fiscal Q3 Financial Statements
3/8/2011COMPLETES FIRST CLOSING OF $550,000 NON-BROKERED FINANCING
5/31/2010Key Gold Targets to be Evaluated as Field Season Commences
3/1/2010Acquires gold exploration property
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1/22/2010Affiliate Successfully Listed on TSX
9/29/2009Announces Change of Record Date and Annual, General and Spec...
7/28/2009Announces Intention to Distribute Shares of AU
5/28/2009Releases Quarterly Financial Statements
3/2/2009Releases Interim Financial Statements
2/26/2009R. W. Hutchinson accepts position as Founding Chair, Geotech...
1/30/2009NEW RELEASE - ' TRI ORIGIN'S AFFILIATE RELEASES QUARTERLY RE...
1/12/2009- OZ MINERALS TERMINATES ALLIANCE WITH TRI ORIGIN
11/20/2008AUSTRALIAN AFFILIATE REPORTS SIGNING OF AGREEMENTS TO COMMEN...
8/22/2008FORMS ALLIANCE WITH MAJOR MINING COMPANY
8/6/2008To Commence Drilling at Red Lake
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2/29/2008 Financial Statements
10/26/2007June 2007 Financial Statements & MD&S point to a strong year...
9/28/2007MR. ALAN SNOWDEN JOINS THE BOARD OF TRI ORIGIN’S AUSTRALIAN ...
9/4/2007Financial Investment Update
7/12/2007commences drilling at Keewatin Project
6/28/2007Woodlawn Tailings Retreatment Project Resource
5/16/2007TOE - Announces Additional Shares Issued in Subsidiary and A...
3/21/2006drilling to commence, Red Lake extension, Ontario
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