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Be the first with the news that moves the market- Origen Resources (ORGN) has discovered a number of new high-grade gold occurrences at its Wishbone property’s Rat prospect
- During a recent reconnaissance program in July, the company collected 67 rock samples, 18 of which reported more than 0.5 grams per tonne of gold
- A Phase Two program has now been launched, with crews mobilised to follow up on the new target areas
- The company is waiting to receive its drill permits, which may lead to the inclusion of a drill program in this second phase
- Origen Resources (ORGN) is currently up 2.56 per cent and is trading at C$0.20 per share
Origen Resources (ORGN) has discovered a number of new high-grade gold occurrences at its Wishbone property’s Rat prospect.
Located 12 kilometres west of the company’s LGM Project, the Wishbone property covers 3,971 hectares within British Columbia’s prolific Golden Triangle region, and consists of 10 claims.
It was discovered by Teck Resources in 1980, and has been the subject of continued fieldwork over the last 40 years. In addition, glacier retreat in recent years has exposed between 50 metres and 500 metres of unexplored area, including extensions to known gold prospects.
A recently completed reconnaissance exploration program collected 67 float, outcrop and rock chip samples from an 800-metre by 900-metre area that included the Rat prospect. Of these samples, 18 were reported to be more than 0.5 grams per tonne of gold.
These samples point to a nearby source for the occurrences, along with a significant system of mineralisation underlying the Rat prospect.
As such, Origen has launched a Phase 2 exploration program locate this source, determine the geological and structural controls of the mineralisation, and identify drill targets.
The company is currently waiting to receive its permits for a planned drill program which, once secured, may be included in this phase of work.
Blake Morgan, President of Origen Resources, said he is thoroughly encouraged by the broad, high-grade gold mineralisation at the Rat prospect.
“This initial success has really set the stage for our next phase of work, not only advancing this target area, but in synergy with the other priority target areas on Origen’s Wishbone property,” he added.
Origen Resources (ORGN) is currently up 2.56 per cent and is trading at C$0.20 per share at 1:32pm EDT.
