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Tri Origin Exploration Ltd

Publié le 08 juillet 2010

Affiliate Reports on Progress at Lewis Ponds Gold Project

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Mots clés associés :   Canada | Copper | K Street | Zinc |

TRI ORIGIN EXPLORATION LTD.

 

FOR IMMEDIATE RELEASE:

July 8, 2010

AUSTRALIAN AFFILIATE REPORTS ON PROGRESS AT LEWIS PONDS GOLD PROJECT

 

Tri Origin Exploration Ltd. (TSX-V: TOE) (?Tri Origin?) announces that its Australian affiliate, TriAusMin Limited (?TriAusMin?) reported on progress at its Lewis Ponds gold project.  Tri Origin is very pleased with the progress at Lewis Ponds and looks forward to TriAusMin?s renewed activity in this important re-emerging gold district.  The press release issued earlier today by TriAusMin is as follows:

 

 

TARGETS IDENTIFIED FOR EXPLORATION AT LEWIS PONDS GOLD PROJECT

 

July 8, 2010 - TriAusMin Limited (TSX:TOR; ASX:TRO) (?TriAusMin? or the ?Company?), announces that an interpretation of airborne geophysical survey data has been completed in preparation for commencement of a field programme at the Company?s Lewis Ponds gold project. Lewis Ponds is located 200 kilometres west of Sydney in a re-emerging gold district at Orange, New South Wales.

 

Data was evaluated from a 1,170 line kilometre ?VTEM? survey conducted by Geotech Airborne Pty completed in March of this year. A total of 290 discreet anomalous responses were identified and have been grouped into 105 targets which require ground evaluation prior to drilling. It was noted that the Main and Tom?s Zones, the two deposits previously discovered by TriAusMin were detected by the survey as were other known mineral occurrences at prospects including Mt. Lindsay, Shorter and Ophir. This indicates the effectiveness of the survey and confirms the importance and potential of the other targets.

 

The Orange Gold District sees production of over 500,000 ounces of gold a year from the Cadia Hill and Ridgeway Mines operated by Newcrest Inc., hosts the recent McPhillamys gold discovery now being delineated by Alkane Resources Ltd and Newmont Australia Ltd and also hosts a number of historic gold mines at Lucknow and Ophir (the first discovery of payable gold in Australia). TriAusMin?s Lewis Ponds tenement covers an area of approximately 164 square kilometres in the middle of this district centered over an important sequence of gold-bearing volcanic and sedimentary rock. The 6.35 million tonne Indicated Mineral Resource1 grading 1.51 grams per tonne of gold, 68 grams per tonne of silver, 0.15% copper, 1.36% lead and 2.39% zinc previously delineated by the Company is an example of this style of mineralization. It remains open at depth and along strike and it is the Company?s intention to expand this resource through drilling and to explore for new gold deposits within this prospective tenement.

 

At Lewis Ponds, previous exploration and resource delineation by the Company did not focus on broad, relatively low grade deposits such as McPhillamys however significant drill core intersections of gold mineralization were encountered in these earlier programmes. These include: hole TLPD-6A which intersected 95 metres grading 1.06 grams of gold per tonne and hole TLPD 12 which intersected 88 metres grading 1.97 grams of gold per tonne2. A number of other prospects including Mt. Lindsay and Shorter at the north part of the property have returned gold values in grab samples and from drill core but earlier exploration focused on the base-metal content of these prospects. In addition, two shallow, reconnaissance holes drilled at the Kinross prospect at the central part of the tenement both returned significant gold values, NORC 06 assayed 0.19 grams of gold per tonne and 10.6 grams of silver per tonne across 65 metres from 76 metres to the end of the hole and NORC 7 returned 44 metres grading 0.19 grams of gold per tonne from 52 to 96 metres down hole and 24 metres grading 0.17% copper from 24 to 48 metres down hole.

 

The Company has re-aligned its strategy to focus its exploration programme on its gold assets while continuing to advance the prospects for development of its substantial zinc and copper-rich base metal resources at the Woodlawn District, 200 kilometres to the south of Lewis Ponds. At Woodlawn, two recently completed deep drill holes which undercut base metal massive sulphide lenses at the past-producing Woodlawn mine provided direct evidence that the deposits continue for at least a few hundred metres below historic workings. These new results have justified the need for a significant amount of additional drilling. TriAusMin is now evaluating its alternatives to have this work completed and to position itself for possible future development of its zinc/copper tailings re-treatment project as base metal prices improve and economic conditions permit.

 

For further information, please visit www.triausmin.com or contact:

 

Dr. Robert Valliant, Chief Executive Officer and Executive Director

Head Office:

Level 3, 50 Park Street, Sydney, NSW 2000 Australia

Tel: +61 02 9267 8000 (Sydney) info@trioriginminerals.com.au

 

In Canada:

Tel:   +1 905 727 8688 (Toronto) info@triausmin.com                                                                      

 

Notes:

 

1.        In accordance with the Australian Securities Exchange Limited Listing Rules Appendix 5A, the information in this press release that relates to Mineral Resources is based on information compiled by Mr Robert Cotton, a consultant geologist of Mineral Appraisals Pty Ltd, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Cotton has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which have been undertaken 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 to qualify as a Qualified Person as defined in Canadian National Instrument 43-101. Mr Cotton has consented to the inclusion of the matters in the form and context in which they appear in TriAusMin reports based on information derived from his technical work. 

 

The historical exploration results in this press release were prepared from work conducted during the 1990?s in New South Wales, Australia prior to the enactment of National Instrument 43-101.  The historical work was conducted under the supervision of Dr. Robert Valliant, Member AIG, a ?qualified person? for the purposes of National Instrument 43-101, who is not independent as he is an officer of the Company.

 

2.        High assay values of 43.4 and 27.6 grams per tonne of gold each across 1 metre core length were cut to 16 grams of gold per tonne for calculation purposes.

 

For more information about Tri Origin, please visit 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 its affiliate, TriAusMin Limited (formerly Tri Origin Minerals Ltd); a publicly traded, dual listed company that trades on the Toronto Stock Exchange under the symbol TOR and the Australian Securities Exchange under the symbol TRO.

 

 

 

 

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Tri Origin Exploration Ltd

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CODE : TOE.V
ISIN : CA89557L1031
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Tri Origin est une société d’exploration minière de cobalt et de nickel basée au Canada.

Tri Origin est en développement de projets de cobalt, de nickel, d'argent, de cuivre, d'or, de plomb et de zinc en Australie, et détient divers projets d'exploration au Canada et en Australie.

Ses principaux projets en développement sont WOODLAWN UNDERGROUND et WOODLAWN RETREATMENT en Australie et ses principaux projets en exploration sont OVERFLOW, CALARIE, LEWIS PONDS et WOODLAWN MINING DISTRICT en Australie et RED LAKE EXTENSION / CONFEDERATION, BURNTBUSH, COCHENOUR et CITADEL CUSTOM GOLD (SURLUGA) au Canada.

Tri Origin est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 20,9 millions CA$ (16,8 millions US$, 13,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 05 avril 2007 à 1,39 CA$, et son plus bas niveau récent le 18 mars 2020 à 0,01 CA$.

Tri Origin possède 99 370 000 actions en circulation.

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