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Tri Origin Exploration Ltd

Publié le 02 avril 2007

WOODLAWN UNDERGROUND PROJECT TO PROCEED TO FEASIBILITY

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FOR IMMEDIATE RELEASE:

 

April 2, 2007

 

Tri Origin Exploration Ltd (TOE: TSX-V) has received notification from its 53.9%-owned Australian subsidiary Tri Origin Minerals Ltd (TRO) that it has completed the prefeasibility study for the Woodlawn Underground project at the past-producing Woodlawn zinc/copper/silver deposit in NSW, Australia.  Results were positive and TRO will immediately commence a feasibility study which will define parameters required to re-develop the Woodlawn Underground mine.

 

Management at TOE is encouraged by this result and looks forward to the project being moved ahead as quickly as possible with the definitive feasibility study.

 

The News Release as lodged to the Australian Stock Exchange (ASX) by TRO is as follows:

 

WOODLAWN UNDERGROUND PROJECT TO PROCEED TO FEASIBILITY

 

The Board of Tri Origin Minerals Ltd (TRO) is pleased to announce to its shareholders that the Company has:

 

·        Completed the prefeasibility study for the redevelopment of the Woodlawn Underground Project and will immediately commence a definitive feasibility study;

·        Scheduled the feasibility study for completion during the first quarter of next year;

·        Scheduled statutory development approval activities in parallel with the feasibility study;

·        Secured the services of a very experienced and well respected manager who has been appointed to the new position of General Manager Development; and

·        Budgeted $2.6 million to complete the feasibility study and $5 million to access the existing underground workings to ensure study outcomes are to the requisite level of confidence.

WOODLAWN

 

The Woodlawn Underground Project comprises a zinc dominant polymetallic deposit located approximately 40 kilometres south of Goulburn in New South Wales.

 

TRO is evaluating the redevelopment of the underground mine which as previously reported has a total JORC (Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2004 edition)) compliant resource base of 10.1 Mt comprising 8.5 Mt of combined Measured and Indicated resources grading 10.3% Zn, 1.8% Cu, 4.0% Pb, 0.53g/t Au and 85g/t Ag, with the remaining resources being of Inferred status.

 

The prefeasibility study provided the initial assessment of the potential to economically mine and treat these resources. Although not a definitive study it identified key issues to be addressed during the definitive feasibility study.

 

The feasibility study will commence immediately and target:

 

·        An average annual mine production rate of 440,000 tonnes per annum or greater;

·        An initial mine life in excess of 8 years;

·        Production of greater than 80,000 tonnes per year of concentrates; and

·        Underground access to confirm operational and mine geotechnical parameters.

 

Gaining access to underground through existing development is a priority of the Company to confirm mine geotechnical parameters within areas of remnant mining to enable resources to be converted to reserves under the JORC code. Geotechnical criteria have a significant influence on the proposed mining methods and operating cost structure. Obtaining access will also enable the Company to determine the condition of the mine and assist in the scheduling and costing of various mine rehabilitation and other activities to the requisite level of confidence.

 

Tri Origin has budgeted $2.6 million to complete the definitive feasibility study and a further $5 million to gain access to the underground workings as part of the evaluation process.

 

GENERAL MANAGER DEVELOPMENT

 

Mining engineer Richard Procter has joined the Company and will assume responsibility for all group development activities.  Richard, previously known to both the executive and the Board of the Company, has more than 30 years industry experience.

 

In the short term he will be responsible for the management of the definitive feasibility study for the development of the Woodlawn Underground Project.

 

Amongst the broad industry experience Richard brings to this role is his expertise in the management of project development activities and feasibility studies supported by his underground mining experience. His appointment is significant for the Company and complements and further builds Tri Origin’s technical services capability and judgement. As a manager, consultant and executive in previous roles Richard’s experience in base and precious metal mining projects spans Australasia, Africa, North and South America, Europe and the Middle East.

 

In the past Richard has worked in senior roles with Minproc Engineers, Avocet Gold Ltd, and Lonhro Limited.

 

His management expertise is complemented with an MBA and a bachelor’s degree in science, majoring in engineering (University of the Witwatersrand, South Africa).

 

This news release can be publicly accessed at www.asx.com.au under Listed Company Documents filed by Tri Origin Minerals Ltd. TRO’s reporting of mineral resources, exploration results and qualifications of competent persons are in accordance with the 2004 Edition of the Australasian Code for Reporting of Exploration Results and the JORC Code of December 17, 2004. Although these codes may differ in some regards to Canadian Standards including NI 43-101, it is the opinion of TOE management that statements made in the TRO report are, in all material regards, compliant with NI 43-101.

 

 

For further information please contact:

Tri Origin Exploration Ltd.

Dr. Robert Valliant, President

Tel: (905) 294-9942

Web page: www.triorigin.com

E-mail: invest@triorigin.com

 

Tri Origin Exploration Ltd. is publicly listed on the TSX Venture Exchange under the trading symbol TOE.

Tri Origin has leveraged exposure to mineral discoveries in Australia through its 53.9% equity interest in its subsidiary, Tri Origin Minerals Ltd., a publicly traded company listed on the Australian Stock Exchange under the symbol TRO.

Tri Origin Exploration Ltd

EN DÉVELOPPEMENT
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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