MONTREAL, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Origin Gold Corporation ("Origin or the “Corporation") (TSX VENTURE: OIC) is pleased to announce the acceptance by the Exchange of the acquisition of an interest of 50% of the La Pantera (the “Property”) by the Corporation (news release of August 17, 2018).
Origin initiated its first 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 (‘NI”) 43-101 technical report dated August 20th, 2018, prepared by Pierre O’Dowd.
There are two main targets to be addressed by the exploration program:
- Surface targets
It will consist of the surface reconnaissance of 10 known zones, totalling an area of 4.11 km2 of saprolite (bedrock decomposed by weathering) being currently mined by artisans via shallow open pits and processed by gravity methods for their gold content.
The most important zone (No 6) is so far, 3.4 km in length by 400 to 800 metres in width. Limited samples taken by Origin and O’Dowd range from 0.336 g/t Au to 0.536 g/t Au in the Matos mine area (No 2) and from 1.002 g/t Au to 1.282 g/t Au in the Mina Bulla area (No 10). Both mines have underground workings. The mineralized saprolite is above.
The origin of such widespread gold mineralization has to be explored to determine its potential. It is to be noted that the size of the surface mining areas is much larger now that what is shown on a 2012 map of the concession indicating the increase success of such surface mining operations. - Underground mining targets
There are several old and new small gold mining operations on the Property. They have to be evaluated. So far, only 3 of them have been visited and sampled (reconnaissance operation). The results are as follows:
| Sample # | Au g/t | Description | Sampler |
| Bulla 1 | 11.99 | Vein material from U/G operation, 40 cm | Origin |
| Bulla 2A | 14.98 | Vein material from U/G operation, 45 cm, sulphide rich | Origin |
| Bulla 2B | 7.34 | Vein material from piles at surface | Origin |
| P006 | 6.66 | Vein material (15% suph) from Mina Torrecillas, U/G | Origin |
| MB P01 | 24.35 | Mina Bulla, vein 0.7 m thick | Origin, 2017 |
| MB P02 | 0.77 | Mina Bulal, vein 0.5 m thick | Origin, 2017 |
| MB P03 | 13.65 | Mina Bulla, vein 0.45 – 0.50 m thick | Origin, 2017 |
| MB P04 | 14.93 | Mina Bulla, vein 0.20 – 0.50 m thick | Origin, 2017 |
| MB P05 | 6.51 | Mina Bulla, vein 0.35 – 0.70 , thick | Origin, 2017 |
| MB P06 | 28.57 | Mina Bulla, vein 0.55 m thick | Origin, 2017 |
| 81081 | 7.49 | Mina Los Caballeros, selected material | P. O’Dowd |
| 81082 | 169.63 | Mina Bulla, vein in shear zone | P. O’Dowd |
| 81086 | 7.85 | Mina Torrecillas, surface pile | P. O’Dowd |
| Note: | |
| All samples of Bulla are channel samples across the indicated widths and different veins. | |
| Exception: | |
| - | samples Bula 2B and P06 are a grab samples and not necessarily representative of the mineralization hosted on the Property. |
| - | sample 81082 is a channel sample across a 50 to 70 cm. wide vein. |
| Samples taken from surface piles are representative of what the pile should run if processed. | |
| Those are very encouraging result. At Mina Bulla area, the amount of parallel mineralized veins could probably be related to presence of a stockwork or shear zone. This possibility will be investigated. | |
The scope of work of the exploration program:
The Property represents quite a challenge. There is gold there but how much? The initial exploration program will consist of:
- Regional geology and geophysics.
- Survey of saprolite and vein type production; and
- Grade and volume definition of portion of the saprolite.
The program, having a budget of US$100,000, will be done over a period of three months.
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 AQ1-AR Ag Agua Regia – 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).
Qualified Person
This news release has been reviewed and approved by Pierre O’Dowd, P. Geo., BS.c. Geology, an independent Qualified Person as defined by NI 43-101.
About Origin
Origin is a mineral exploration company with its exploration activities focused in Colombia.
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0eb522ca-b56c-4a88-b0aa-b891c554c280