Exploration programs for properties held by Tri Origin Exploration (TSE) were announced to shareholders and analysts at the annual meeting in Toronto.
President Robert Valliant outlined a strategy of acquiring and developing advanced projects, as well as some grassroots projects believed to have potential.
He estimates $5 million will be spent exploring the Lewis Ponds deposit in New South Wales, Australia, and five properties in northern Ontario. Lewis Ponds contains preliminary reserves of 4.8 million tonnes grading 3.52 grams gold and 116 grams silver per tonne, plus 0.19% copper, 3.02% lead and 4.94% zinc.
In-fill drilling to define reserves further will cost $1 million, and another $1 million will be spent on regional exploration, including drilling of the untested stratigraphy that hosts the deposit.
A total of $250,000 will be spent on the Ontario projects, including Sault and the newly acquired Straw Lake.
Geological, geophysical and geochemical surveying will start next spring at Straw Lake, 300 km west of Thunder Bay.
Also, follow-up drilling will be completed on the Sault project, near Sault Ste. Marie. (Drilling in 1990 intersected 7.2 grams gold over 0.7 metres.) In closing, Valliant said “the treasury is healthy and we will have pocket money for other advanced projects.”
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