Tri Origin Defers Airborne Geophysical Survey at Alliance Gold & Base Metal Properties
Aurora, Ontario / TheNewswire / Tri Origin Exploration Ltd (TSX-V:TOE) ("Tri Origin" or the "Company") has completed the first half of an extensive VTEM-plus airborne geophysical survey at the south margin of the Abitibi Greenstone Belt in Ontario and due to inclement weather has decided to defer completion of the remaining portion of the survey to January, 2016, if weather permits. The survey covers a large land position acquired on behalf of a gold and base metal exploration Alliance entered into between Tri Origin and Sumac Mines Ltd. ("Sumac") a subsidiary of Sumitomo Metal Mining Co. Ltd. ("Sumitomo").
Commencement of the survey was announced by Tri Origin on October 15, 2015. A number of standby days were logged due to bad weather during late October and early November and survey activities were deferred during mid-November pending review of weather forecasts. Forecasts now predict unsuitable flying conditions for the remainder of the year and incurring additional standby cost is not justified.
The survey is being flown by Geotech Ltd of Aurora, Ontario and has collected VTEM-plus electromagnetic and magnetic data over approximately 40% of the initially proposed survey grid of 5,000 line-kilometres. The survey covers regional target areas identified by Tri Origin along the southern margin of the Abitibi Greenstone Belt in the Cobalt-Temagami region where the prospective, Archean-age volcanic rocks are covered by younger, regionally extensive, Proterozoic-age sedimentary rocks. These cover rocks precluded historic prospecting and limited the effectiveness of earlier geophysical equipment which had minimal depth penetration capability. Preliminary results received to date have confirmed Tri Origin's belief that the covered Archean rocks can now be effectively explored using modern geophysical techniques and drilling. Tri Origin is looking forward to completion of the survey, receipt of final processed data and selection of target areas in conjunction with Sumac Mines Ltd, its Alliance partner.
The survey is expected to recommence in early January of 2016.
Tri Origin is pleased to participate with Sumac in its mineral exploration efforts and values Sumac's contributions to this Alliance. Sumitomo, Sumac's parent company, is a Japanese firm engaged in gold and base metals mining, smelting and refining, manufacturing of semiconductor and advanced materials and other business. For more information about Sumitomo, please visit www.smm.co.jp/E/
Also, the Company is announcing that a revision has been made to the Convertible Note announced by the Company in a news release dated October 23, 2015. The Note has a maturity date of October 31, 2016 and not December 31, 2016 as initially reported.
For information about Tri Origin, please visit www.triorigin.com or SEDAR www.sedar.com or contact:
Dr. Robert Valliant, President
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.
CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Tri Origin's periodic reports including the annual report or in the filings made by Tri Origin from time to time with securities regulatory authorities.
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