Inmet, Tri Origin form pact

Junior Trio Origin (TOE-T) has optioned to Inmet Mining (IMN-T) its Woodlawn and adjacent South Woodlawn polymetallic projects in New South Wales, Australia.

To earn a 60% interest, Inmet must spend $3.5 million on exploration and pay $310,000 over four years. A joint venture would follow.

Situated 200 km southwest of Sydney, the properties comprise a combined 290 sq. km, within which are the past-producing Woodlawn, Currawang and Cowely Hills mines. Before it shut down last year, Woodlawn yielded 18 million tonnes averaging 1% copper, 4.8% lead and 13.7% zinc, plus 22 grams of silver per tonne. All three deposits are hosted by the Woodlawn volcanics, which strikes for 50 km across the properties and is host to all known base and precious metal deposits in the region.

Meanwhile, Tri Origin has signed a letter-of-intent with Citadel Gold Mines (CIGD-C) to earn a 51% stake in a 2,346-ha land package near Wawa, Ont. Historically, the property is said to have produced more than 120,109 oz., gold, and one of the deposits still hosts about 644,098 tonnes grading 4.3 grams gold. Several other prospects are known, and some of these were explored underground.

To earn its interest, Tri Origin must spend $1.5 million on exploration over five years; a joint venture would follow.

Geological mapping and geophysical surveying are planned for the new year, with drilling expected to follow.