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Cours Or & Argent

Tri Origin Exploration Ltd

Publié le 28 juin 2007

Woodlawn Tailings Retreatment Project Resource

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June 28, 2007

 

FOR IMMEDIATE RELEASE

 

 

7.0 MILLION TONNE TAILINGS RESOURCE ADDS TO WOODLAWN FEASIBILITY STUDY

 

Tri Origin Exploration Ltd (TOE: TSX-V) is pleased to announce that its 51%-owned subsidiary, Tri Origin Minerals Ltd (TRO) has completed a Resource estimate for the Woodlawn Tailing’s Retreatment Project (WRP) West and South tailings dams. The JORC(1) compliant Measured and Indicated Resource is

 

6.98 million tonnes grading 0.55% copper, 1.34% lead, 2.31% zinc, 0.31 grams per tonne gold and 30 grams per tonne silver.

 

An additional Inferred Resource of 1.61 million tonnes at similar grades has also been calculated. The third dam of the WRP, the North tailings dam, is yet to be drilled and evaluated. Based upon historic Woodlawn mine production reconciliations it is anticipated that an additional 2.5 million tonnes of tailings may be defined within this third dam.

 

The Woodlawn Tailings Retreatment Project and Woodlawn Underground Project are being evaluated by TRO on an integrated basis as part of a bankable feasibility study to redevelop the past-producing Woodlawn mine. This study is on schedule for completion during the first quarter of 2008. Statutory approvals are being run in parallel with the study and are on schedule for completion by mid 2008.

 

The tailing resources (Tables 1, 2 and 3) for the West and South tailings dams have been independently estimated by Mr Robin Rankin of GeoRes (GeoRes), Sydney, Australia.

 

Table 1: Combined Tailings Resource Estimate 2007

Resource Category

Tonnes

%

Tonnes

Cu (%)

Pb (%)

Zn (%)

Au (g/t)

Ag (g/t)

Measured

3,890,000

45

0.55

1.34

2.31

0.31

30

Indicated

3,090,000

36

0.54

1.33

2.20

0.31

29

Inferred

1,610,000

19

0.51

1.18

2.26

0.24

24

Total

8,590,000

100

0.54

1.30

2.26

0.29

28

 


 

Table 2: West Dam Tailings Resource Estimate 2007

Resource Category

Tonnes

%

Tonnes

Cu (%)

Pb (%)

Zn (%)

Au (g/t)

Ag (g/t)

Measured

2,030,000

51

0.61

1.46

2.01

0.39

35

Indicated

1,550,000

27

0.59

1.50

1.91

0.39

36

Inferred

   370,000

22

0.60

1.49

1.80

0.37

33

Total

3,960,000

100

0.60

1.48

1.95

0.39

36

 

Table 3: South Dam Tailings Resource Estimate 2007

Resource Category

Tonnes

%

Tonnes

Cu (%)

Pb (%)

Zn (%)

Au (g/t)

Ag (g/t)

Measured

1,860,000

40

0.48

1.20

2.63

0.22

25

Indicated

1,540,000

33

0.50

1.15

2.49

0.22

21

Inferred

1,240,000

27

0.48

1.09

2.40

0.20

21

Total

4,630,000

100

0.49

1.15

2.52

0.21

23

 

Note: Numbers are rounded up or down and hence may not appear additive.

 

The Woodlawn property located 200 kilometres southwest of Sydney, New South Wales was acquired by Tri Origin in 1999 and was considered a key asset of the Company during the ASX listing of its subsidiary in 2004. The Woodlawn mine operated from 1978 to1998 milling approximately 13.8 million tonnes of high grade ore from open pit and underground operations. The operations closed due to prevailing low metal prices and corporate reasons.

 

In October last year TRO released a Measured and Indicated Resource estimate for the underground component of the Woodlawn Zinc project of 8.58 million tonnes grading 1.8% copper, 4.0% lead, 10.3% zinc, 0.54 grams per tonne gold and 84 grams per tonne silver. Based on this resource, a pre-feasibility evaluation of the underground component of the Woodlawn Zinc project was subsequently completed with positive results. TRO is now progressing a bankable feasibility study for Woodlawn and the new tailings resource estimate will be integrated into that study. The combined Measured and Indicated Resource for the property now stands at 15.6 million tonnes. This will be the first economic evaluation of an integrated underground and tailings retreatment operation.

 

A positive economic evaluation from the bankable feasibility study would likely result in a tailings retreatment project in the order of 1.5 million tonnes per annum and an underground operation producing 440,000 tonnes per annum. In effect TRO is pursuing the development of a near 2 million tonnes per annum operation at Woodlawn. The advantage of an integrated project would be the potential to blend a low grade concentrate from the tailings with that of higher grade concentrate produced from underground ore and the potential benefit of operating economies of scale given the combined tonnage throughput. The overall potential of the Woodlawn Zinc Project is to produce 120,000 to 130,000 tonnes per annum of concentrates at the site.

 

The capital requirements for this project will be determined by the bankable feasibility study. It is now estimated by TRO that capital costs may be in the order of $150 million.

 

Tailings Resources have been estimated by GeoRes using a validated database comprising data from 88 drill holes and survey data of dam and tailings surfaces. The significant percentage of Resources in the Measured (45%) and Indicated (36%) categories at both the West and South tailings dams (Tables 2 and 3) is a function of reliable geostatistical characteristics resulting from high data density. This, combined with conservative extrapolation parameters explains the relatively small percentage of Inferred Resources. Additional drilling in the future, including the north dam, would further increase the confidence of contained metal within the dams. Where historical operating records from the Woodlawn Mine were available these were reconciled with dam volumes and grades. These reconciled within the confidence levels of the Resource estimates. TRO considers that the existing definition is sufficient to complete an economic evaluation for the bankable feasibility study.

 

(1) Declaration and JORC Compliance:  The information in this release that relates to Mineral Resources or Ore Reserves is based on information compiled by Robin Rankin, a Member of the AusIMM, and registered as a Chartered Professional Geologist (CPGeo).  Robin Rankin is Principal Geologist and operator of GeoRes.  He has sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined by JORC.  He consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

 

This release was prepared by Tri Origin Exploration Ltd. from information supplied by its subsidiary Tri Origin Minerals Ltd (TRO). TRO’s news release can be publicly accessed at www.asx.com.au under Listed Company Documents filed by TRO. TRO’s reporting of mineral resources, exploration results and qualifications of competent persons are in accordance with the 2004 Edition of the Australasian Code for Reporting of Exploration Results and the JORC Code of December 17, 2004. Although these codes may differ in some regards to Canadian Standards including NI 43-101, it is the opinion of TOE management that statements made in the TRO report are, in all material regards, compliant with NI 43-101standards.

 

For further information please contact:

Tri Origin Exploration Ltd.

Dr. Robert Valliant, President

 

Tel: (905) 294-9942.

Web page:www.triorigin.com

E-mail: invest@triorigin.com

Tri Origin Exploration Ltd. is publicly listed on the TSX Venture Exchange under the trading symbol TOE. Tri Origin has leveraged exposure to mineral discoveries in Australia through its 51% equity interest in its subsidiary, Tri Origin Minerals Ltd.; a publicly traded company listed on the Australian Stock Exchange under the symbol TRO.

 

Tri Origin Exploration Ltd

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CODE : TOE.V
ISIN : CA89557L1031
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Tri Origin est une société d’exploration minière de cobalt et de nickel basée au Canada.

Tri Origin est en développement de projets de cobalt, de nickel, d'argent, de cuivre, d'or, de plomb et de zinc en Australie, et détient divers projets d'exploration au Canada et en Australie.

Ses principaux projets en développement sont WOODLAWN UNDERGROUND et WOODLAWN RETREATMENT en Australie et ses principaux projets en exploration sont OVERFLOW, CALARIE, LEWIS PONDS et WOODLAWN MINING DISTRICT en Australie et RED LAKE EXTENSION / CONFEDERATION, BURNTBUSH, COCHENOUR et CITADEL CUSTOM GOLD (SURLUGA) au Canada.

Tri Origin est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 20,9 millions CA$ (16,8 millions US$, 13,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 05 avril 2007 à 1,39 CA$, et son plus bas niveau récent le 18 mars 2020 à 0,01 CA$.

Tri Origin possède 99 370 000 actions en circulation.

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