Origen Discovers Two Highly Mineralized Zones Within a Newly Identified District-Scale Target at the LGM Property

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Vancouver, British Columbia--(Newsfile Corp. - March 3, 2021) -  Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the "Company" or "Origen") is pleased to announce that it has now received results from its 2020 Phase 2 field program at the LGM property located in the heart of the Golden Triangle in northwestern B.C.

Key Highlights

  • Two prominent new anomalies discovered, the Hidden Zone and Long Ridge prospects, northeast of Lucifer.

  • The Hidden Zone Anomaly is a broad gold and silver anomaly in talus fines believed to be close to source and open to the northeast and to the southwest.

  • The Long Ridge prospect is defined by a 600 metre long copper-molybdenum-rhenium anomaly in talus fines.

  • The district-scale Lulu Porphyry Target Area now stretches over 4 km to the northeast from Lucifer, encompasses multiple high-priority prospects, and may be indicative of a more substantial and extensive mineralizing system than previously thought.

  • The pronounced rhenium signature is especially significant due to its inherent potential value and as a diagnostic geochemical fingerprint of major copper-molybdenum-gold porphyry systems.

"The size of the Lulu porphyry anomaly combined with the distinct zonation of gold peripheral to it, as seen in other known deposits in the area, demonstrates the potential for Origen to make a significant discovery on the LGM property," states Blake Morgan, President.

The 2020 Phase 2 exploration program at the LGM involved the collection of 234 talus fines samples along seven widely spaced reconnaissance lines over a two square kilometer area. The sampling program was focused within the large ASTER identified sericite-illite alteration zone, centred northeast of the Lucifer Au-Cu zone, that contains historical and newly discovered prospects that make up the Lulu Au-Cu-Mo porphyry target (see Company news releases dated August 5, 2020 and September 2, 2020). The program succeeded in its goal of confirming and extending historical Noranda copper and molybdenum soil anomalies.

The observable area of the ASTER identified alteration zone covers an extensive 2 km x 3 km area and remains open to the northeast, where it is covered by snowpack, and to the northwest and southwest, where it is obscured by vegetation cover. Sampling conducted by Noranda in the target area during the 1990's identified anomalous copper, molybdenum and gold in soil samples; sampling conducted during the 2020 Phase 2 field work discovered two new prominent mineralized occurrences, the Au-Ag Hidden Zone and the Cu-Mo-Ag-Re Long Ridge Zone. These two newly discovered areas significantly expands the Lulu Porphyry Target and firmly supports the district-scale potential of this area.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7117/75895_0c95cc2ce463bb9c_001.jpg

Figure 1: Map of Lulu Porphyry Target Area

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7117/75895_0c95cc2ce463bb9c_001full.jpg

Hidden Zone Au-Ag Prospect

The Hidden Zone is a gold and silver geochemical anomaly located in the northeastern Lulu Porphyry Target Area. Consistently elevated gold and silver results were obtained on two adjacent reconnaissance sampling lines, with two samples returning grades in soil of 1.8 g/t Au with 4.2 g/t Ag and 1.7 g/t Au with 5.3 g/t Ag. The anomaly is believed to be located close to the source as both sample lines were collected along ridges, with the northern most line paralleling the edge of a receding glacier limiting the distance and direction of mechanical mineral transport. The anomaly remains open in two directions, to the southwest and to the northeast under snow cover, and currently covers an area of 400 metres by 200 metres.

Gold results ranged from <0.001 to 1.8 g/t gold and silver values from 0.11 to 5.3 g/t at the Hidden Zone.

Long Ridge Cu-Mo-Ag-Re Prospect

A 600 metre long copper-molybdenum-rhenium anomaly, defined by 25 consecutive highly-anomalous talus fines samples, was discovered 750 metres to the west of the historical Noranda sampling and is situated in the northwest of the Lulu Porphyry Target Area. This newly discovered anomalous extension to the historical work returned values of 101.5 ppm to 293.1 ppm copper, 19.2 ppm to 114.6 ppm molybdenum and <0.005 to 0.127 Rhenium.

Lulu Porphyry Target Area

The newly defined Lulu copper-molybdenum-rhenium porphyry target area encompasses the Lucifer, Nulu, Hidden Zone, and Long Ridge mineralized zones, and now stretches over a 3 x 5 km area exhibiting geochemical similarities to other large nearby porphyry deposits. The results from the 2020 Phase 2 reconnaissance field work has increased the prospective corridor of this target area significantly from the historical coverage, has revealed two new highly mineralized and prospective zones, and may be indicative of a more substantial and extensive mineralizing system than previously considered. The Lulu Porphyry Target Area will be a priority for the 2021 field season.

Rhenium Mineralization Significance

Rhenium anomalies were not recognized in the Lulu Porphyry Target Area until this sampling program and provide valuable insight as to the Lulu Porphyry Target Area's potential. Rhenium is one of the rarest elements on the planet and is used in high temperature superalloys and catalysts and its isotopes are used in cancer treatments. Rhenium is usually recovered as a by-product from the molybdenum mineral molybdenite, with the majority being recovered from rhenium-rich, copper-molybdenum-gold porphyry systems. The presence of rhenium is highly significant as anomalies are closely correlated with molybdenite in rhenium-enriched zones of copper-molybdenum-gold porphyry systems, making it a diagnostic geochemical fingerprint of these systems.

Quality Assurance, Quality Control and Laboratory Methods

Origen fieldwork followed industry standard practices for the collection of talus fines and immature soils during the 2020 Phase 2 program. No field duplicate samples of talus fines/soils were collected and no standards or blanks were inserted since this is not considered necessary or best practice for this sample media.

MSALABS of Langley and Terrace, British Columbia, Canada is a certified analytical laboratory (ISO 9001 and ISO 17025) with experience in the chemical analysis of geological materials. MSALABS is independent of the Company as defined by NI 43-101. Samples were delivered to the laboratory by an employee of Coast Mountain Geological Ltd., who were contracted to implement the field program for the Company.

Talus fines and soil samples were processed by drying, screening to <80 mesh (MSA code PRP-757, PSC-110), digestion of a 20 g cut by Aqua Regia and finishing by 39 element ICP-AES/MS (MSA code IMS-128). Samples with >0.5 ppm gold were reanalysed if sufficient sample remained using a 30 g cut for digestion by fire assay flux followed by an AA finish (MSA code FAS-211).

John Harrop, P Geo., a Qualified Person as that term is defined in NI 43-101 has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.

About Origen

Origen is an exploration company engaged in generating, acquiring and advancing base and precious metal properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia, a 100% interest in the 26,771 ha LGM project, an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral-rich Golden Triangle of British Columbia, and a 100% interest in the Middle Ridge gold project in Newfoundland.

On behalf of Origen,

Blake Morgan

President

For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75895

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