Vancouver, British Columbia--(Newsfile Corp. - November 8, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen")is pleased to announce that it has now been granted rights by the province of La Rioja, Argentina to explore an additional 21,000 hectares within the prospective lithium belt that extends from the Los Sapitos salar in San Juan north into La Rioja province. The Company's two claim packages now total over 47,000 hectares (ha) and are centered on known salars or dry salt lakes.
To view an enhanced version of Figure 1, please visit:
The belts tectonic setting, geothermal activity and observed brine chemistry are similar to that of the Lithium Triangle to the north and give rise to the potential for discovering structural traps for lithium-bearing aquifers at depth. The area is also host to vast alluvial sand and clay deposits that have never been investigated for their lithium content. Very limited exploration for lithium has occurred within the project area and the initial focus will be to conduct a regional geophysical gravity survey to determine controlling structures, basin shape and consequently, potential traps within the basins. In addition, the team will conduct systematic sampling of not only the brines, but also investigate the extent and characteristics of lithium-rich clays. Ulexite (a boron evaporite mineral) has also been identified throughout the belt and indicates that concentrated boron-bearing brines have been present, which is an indicator of lithium prospectivity.
"Controlling 47,000 ha in this newly identified lithium region is yet another game changer for our shareholders. The Origen team looks forward to getting boots on the ground in the coming weeks to start unlocking the value we see in this asset," states Blake Morgan, Company President.
To view an enhanced version of Figure 2, please visit:
Newfoundland Lithium Update
The Company is now in receipt of the required exploration permits in Newfoundland and has commenced field work. It is anticipated that this first sampling and prospecting phase of the program will take approximately 6 weeks.
Further details on the project can be found on the Company's website www.origenresources.com. One of the world's largest lithium suppliers, Ganfeng Lithium Corp., holds a 4.3% equity stake in in Origen.
John Harrop, P. Geo., a Qualified Person as that term is defined in NI 43-101, has supervised the preparation, or approved the scientific and technical disclosure in the news release. Mr. Harrop is employed by Coast Mountain Geological Ltd. He is not independent of the Company as defined in NI 43-101.
Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium 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 in the mineral rich Golden Triangle of British Columbia, a 100% interest in the Middle Ridge gold project, a 100% interest in 13 lithium prospects in Newfoundland and an option to earn a 100% interest in a burgeoning new lithium belt in Argentina.
On behalf of Origen,
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/102370
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