Budget Set For Tri Origin-Sumac South Abitibi Gold & Base Metal Program
Aurora, Ontario / April 4, 2016 / TheNewswire / Tri Origin Exploration Ltd (TSX-V:TOE) ("Tri Origin" or the "Company") is pleased to announce that a budget has been approved for the South Abitibi gold and base metal exploration program being conducted by Tri Origin in alliance with Sumac Mines Ltd. ("Sumac") a subsidiary of Sumitomo Metal Mining Co. Ltd. ("Sumitomo"). The total approved budget for 2016 is $955,000 of which approximately $100,000 had been spent to the end of February, 2016. The budget is for exploration programs to be conducted during 2016 within portions of a large property holding along the south margin of the Abitibi Greenstone Belt in Ontario which is jointly held 50% by Tri Origin and 50% by Sumac. Sumac is fully funding the initial phases of work at these properties to a maximum total expenditure of C$4.5 million.
The work program for the remainder of 2016 is anticipated to consist of ground geological and geophysical surveys and diamond drilling to follow-up airborne electromagnetic anomalies detected during a "VTEM" airborne EM and magnetic survey recently completed by the Alliance. The airborne survey was flown by Geotech Ltd and covered a large survey grid. Examination of results from the airborne survey resulted in selection of an initial portion of the survey area "Target Area 1" to be the focus of the next phase of surface exploration.
Applications for an exploration plan and exploration permit covering Target Area 1 have been submitted to the Ontario government. Approval is expected during late May/early June. Ground geological and geophysical surveys are planned to commence immediately on permit approval. Interpretive work to identify drill targets based on the results of ground surveys will continue into the summer. Shareholders will be informed of the results of this work and of the plans for follow-up diamond drilling as they are formalized.
The South Abitibi project covers regional target areas identified by Tri Origin along the southern margin of the Abitibi Greenstone Belt in the Cobalt-Temagami region where 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. Furthermore, much of this terrain was excluded from exploration during the time period between 1970 and 2000 due to land cautions and exploration moratoriums. Tri Origin's management believes that the prospective, covered Archean rocks can now be effectively explored using modern geophysical techniques and drilling.
The Alliance's focus on high-grade and high-value gold and gold-rich, poly-metallic sulphide deposits in selected areas of the southern Abitibi Greenstone Belt of Ontario- one of the most prolific metal producing areas in the world provides a fully-funded opportunity for Tri Origin to capitalize on its strategy of identifying and acquiring prospective, district-scale properties in well-mineralized mining areas and advancing these properties toward making new discoveries.
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/
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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