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Tri Origin Exploration Ltd

Publié le 06 mars 2008

Woodlawn Zinc-Copper Projects Update

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FOR IMMEDIATE RELEASE:

March 6, 2008

 

WOODLAWN ZINC-COPPER PROJECTS UPDATE

??

Tri Origin Exploration Ltd. (TOE:TSX-V) is pleased to report that???s its 51% - owned Australian subsidiary?? Tri Origin Minerals Ltd (???TRO???) has released an update on the progress of the Bankabable Feasibility Study (???BFS???) being conducted on the Woodlawn Zinc-Copper Projects at Woodlawn, NSW.?? Woodlawn, located 200 km west of Sydney, contains a previously reported 8.58 million tonne Measured and Indicated underground resource as well as a 6.98 million tonne Measured and Indicated?? resource of surface tailings which provide the basis for two complimentary feasibility studies; the Woodlawn Retreatment Project (???WRP???) and the Woodlawn Underground Project (???WUP???) which are being assessed for an integrated project development.

 

TRO???s Woodlawn update as reported to the Australian Securities Exchange is as follows:?? ??

??

KEY POINTS:

 

  • Feasibility Study of WRP is progressing well and on target for completion in early April 2008. Annual production of 60,000 tonnes of copper and zinc concentrates expected;
  • ???Feasibility Study of a staged development involving an incremental expansion of the WRP processing facility to treat ore mined from the WUP is on target for completion in May 2008. Total annual production of 120,000 to 140,000 tonnes of concentrate would be expected from an integrated WRP/WUP operation;
  • ???Data from a December 2007 drilling programme is being used to calculate a resource for the North Tailings Dam which is expected to confirm an upgrade to the existing 6.98 Mt of Resources for the WRP already outlined at the West and South Tailings Dams;
  • Deep drilling in the vicinity of old underground workings has provided data to confirm the underground resource model survey data and provide samples for metallurgical confirmatory testing;

??

UPDATE ON THE WOODLAWN ZINC-COPPER PROJECTS (???WZP???) FEASIBILITY STUDY

 

Following the completion of a Preliminary Feasibility Study of the WZP, a decision was taken in April 2007 to start work on a Bankable Feasibility Study (???BFS???) with the aim of completing the study by the first quarter of 2008. The initial intent of the BFS was to study the feasibility of a stand-alone WUP which involved reopening the Woodlawn underground mine to access high grade mineralisation that remained when the operation ceased in 1998. Since then, the scope of the study was expanded to also evaluate the feasibility of a stand-alone WRP involving recovering and reprocessing the tailings that were produced from the previous Woodlawn open cut and underground operations.????

 

The WUP study envisages a relatively high grade, low production rate scenario, involving higher capital and unit operating costs while the WRP study envisages a higher volume, relatively low grade operation with relatively lower unit operating and capital costs.??

 

The respective stand-alone studies have now progressed to a point where consideration is being given to a staged development scenario which commences with the development of a stand-alone tailings retreatment project followed by an incremental expansion into a fully integrated processing operation that treats both tailings and ore extracted by an underground mining operation.?? The integrated project development scenario is expected to:

??

?????????????????? - ?????????? introduce a desired level of flexibility into the operation;

 

?????????????????? - ?????????? provide a more capital efficient approach to project development than would be ?????????????????? ?????????????????????? ?????????????????? possible with two stand-alone operations; and

 

?????????????????? - ?????????? achieve certain unit operating cost advantages, particularly with the underground ?????????????? ?????????????????????? ?????????????????? project.

 

The stand-alone WRP feasibility study is scheduled for completion in early April 2008 and is expected to demonstrate the feasibility of the tailings retreatment operation producing approximately 60,000 tonnes of copper and zinc concentrates per year. The study of the integrated project involving both the tailings retreatment and an underground mining and processing operation will be finalized in May 2008. This study is expected to demonstrate the feasibility of an operation producing up to 80,000 tonnes of concentrates per year from underground ore giving total project output of between 120,000 to 140,000 tonnes of concentrates per year.

 

Completion of economic evaluation, project permitting, and metallurgical test work for the WUP are all on the critical path for a development decision for the integrated WZP.

 

Potential Upgrade of WRP Resources

 

In relation to the WRP, estimation of the resource contained in North Tailings Dam has commenced following the receipt of assays of samples acquired in the December 2007 drilling programme. Grades are in line with expectations and based on reported grades and information from previous operators of the Woodlawn operations, the North Tailings Dam resource appears likely to be in the order of 2.0 Mt with similar average grades to the 8.6 Mt of Measured, Indicated and Inferred Resources contained in the South and West tailings dams.??

 

The results of this work will not change the WRP plant design but will enable the North Dam resource to be considered in an overall production schedule which will result in an extension to the tailing retreatment project life of approximately 1.5 years.

 

Confirmation of WUP Resources

 

Two diamond drilling rigs are currently operating on Tri Origin???s Woodlawn tenements.

 

One of the rigs has until recently been deployed performing geotechnical drilling for the proposed new decline to access the existing underground workings. This drilling rig has now completed its assigned task and has been moved to the nearby site of the Cowley Hills Prospect. The second drill rig has been used to obtain additional diamond core sample for confirmatory metallurgical test work for the WUP resource calculation and in this respect has completed Hole WLTD004 and wedge WLTD004B and is currently drilling Hole WLTD005.??

 

 

 

 

Hole WLTD004

 

The drilling of Hole WLTD004 has validated the accuracy and confidence of the underground resource model survey data in this area as well as provided samples for confirmatory metallurgical test work.

 

Hole WLTD004 successfully intersected mineralization associated with the C2 and C lenses, which were partly mined by previous operators. The C2 Lens is a subsidiary copper rich lens located approximately 25 m into the hanging wall of the much larger C Lens. Presented below in Table 1 are assays of C2 Lens intercepts from Holes WLTD004 and WLTD004B and an intercept of the C Lens by Wedge WLTD004B.

 

Table 1: C2 and C Lens Assays ??? Hole WLTRD004

 

Hole

Lens

From

(m)

To

(m)

Interval

(m)

Cu

(%)

Pb

(%)

Zn

(%)

Ag

(ppm)

Au

(ppm)

WLTD004

WLTD004B

WLT004B

Incl.

C2

C2

C

383.00

398.50

438.90

442.00

389.80

406.60

446.20

446.20

6.80

8.10

7.30

4.20

2.79

2.92

1.66

1.89

0.10

0.07

4.87

7.18

0.85

0.38

12.34

19.60

12

13

171

201

0.16

0.22

2.32

2.27

 

The intercepts in the C2 Lens are approximately 10 m vertically apart. The true width of the C2 Lens at the drilled locations is approximately 5 to 7 m.

 

Mineralisation associated with the C Lens was intersected from 438.9 m to 446.2 m. The true width of the intercepts in C Lens is approximately 90% of the intervals shown in Table 1. This zone is associated with a large remnant pillar and is located approximately 400 m below surface. The C Lens was the largest individual lens mined at Woodlawn and constitutes approximately 35% of the current underground resource.??

 

Mineralisation in this zone is dominated by massive sulphides containing pyrite, sphalerite, galena and chalcopyrite. Assays indicate lower grade base metals mineralisation followed by ??4.2 m of high grade zinc rich mineralization. Gold and silver values for the intercept are elevated compared to average resource grades. Unfortunately the hole intersected the edge of a stope and had to be abandoned at 446.2 m. However, high grade zinc mineralisation was predicted for a further 12 m -15 m beyond the end of this hole.

 

Importantly, the analytical results presented above for both the C2 and C lenses confirm Tri Origin???s modelling of the resource and grade distribution of the mineralisation.

 

Hole WLTD005

 

Further metallurgical samples for confirmatory test work are being obtained by drilling Hole WLTD005 through remnant pillars in the A and B1 Lenses. Immediately adjacent to Hole WLTD005 are historical holes W057 and U174 drilled by previous operators which intersected high grade mineralization within the A and B1 lenses. The assay results from these holes are shown below in Table 2.

 


TABLE 2: Historical Assay Results Adjacent To Hole WLTD005

 

Hole

Lens

From

(m)

To

(m)

Interval

(m)

ETW

(m)

Cu

(%)

Pb

(%)

Zn

(%)

Ag

(ppm)

Au

(ppm)

W057

U174*

U174*

A

B1

B1

362.7

95.5

120

377.9

120

133

15.2

24.5

13.0

12

16

7

1.2

0.7

3.5

6.2

5.6

0.2

16.6

10.8

0.7

121

95

17

0.1

0.5

0.1

 

*?? ??Underground drillhole, ETW = Estimated True Width

 

Hole WLTD005 is scheduled to be completed in the near future and assay results will be reported when available.

 

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr David Hobby, an employee of TRO, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Hobby has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities 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???. Mr Hobby consents to the inclusion in the report of the matters in the form and context in which they appear based on information derived from his technical work.

 

This release was prepared by Tri Origin Exploration Ltd. (???TOE???) from information supplied by its subsidiary Tri Origin Minerals Ltd (TRO). TRO???s news release can be publicly accessed at www.asx.com.au under Listed Company Documents filed by TRO. 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 43-101standards.

 

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 51% equity interest in its subsidiary, Tri Origin Minerals Ltd.; a publicly traded company listed on the Australian Securities Exchange under the symbol TRO.

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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