- Origen Resources (ORGN) has acquired three additional claim blocks in the Newfoundland Lithium Belt
- The additional 450 hectares of land brings Origen’s total holdings to over 33,700 hectares in the area
- Origen has mobilized crews to Newfoundland to prepare for upcoming field work in the area
- Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium properties
- Origen Resources (ORGN) is steady, trading at $0.33 per share
Origen Resources (ORGN) has acquired three additional claim blocks in the Newfoundland Lithium Belt.
The additional 450 hectares of land brings Origen’s total holdings to over 33,700 hectares in the newly identified and highly prospective lithium corridor.
The Newfoundland Lithium Belt shows key indicators similar to other lithium-rich corridors in Ireland and the Carolinas. Mapping of the geochemical pathfinders for lithium has revealed distinct characteristics that have guided Origen to focus on the more prospective areas of the belt.
These geochemical pathfinders, on a regional scale, reveal a distinct corridor that transects Newfoundland and coincides with the “sweet spot” occurrence of highly favourable lithium-rich pegmatites.
Origen has mobilized crews to Newfoundland to prepare for upcoming field work in the area. Plans for this year include gathering samples from the known pegmatites, planning and designing the phase one program, and obtaining exploration permits.
“We believe that these new acquisitions may hold the key to unlocking the lithium prospectively of the area,” commented Origen’s president Blake Morgan. “High lithium values in till samples coupled with known pegmatites makes this an intriguing acquisition.”
To purchase a 100 per cent interest in the three claims blocks, Origen will pay a total of $2,770, issue 100,000 shares and grant a 1 per cent NSR to the vendor.
Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium properties.
The company currently holds a portfolio of projects in British Columbia and Newfoundland.
Origen Resources (ORGN) is steady, trading at $0.33 per share.
