Origen Extends Lithium Target Area by 3 Square Kilometers at Los Sapitos
Rhea-AI Summary
Origen Resources has successfully completed its exploration program at the 26,962-hectare Los Sapitos Lithium Project in San Juan Province, Argentina. The company identified new clay and brine targets extending over 3 km from previously known areas, significantly expanding the priority exploration zone.
The mapping and sampling program, focused within a 5 km radius of the Los Sapitos salar, revealed new evaporitic and hot-spring carbonate beds, indicating greater basin complexity. The company collected 56 clay, 4 brine, and 6 carbonate rock samples, which were sent to the University of San Juan for analysis.
For 2025, Origen plans a geophysical program at Los Sapitos and will explore its Wishbone gold project in BC's Golden Triangle. The company announced it will not proceed with the previously announced Integra Capital Business SA transaction after 15 months of unsuccessful negotiations.
Positive
- Extended lithium exploration target area by 3 square kilometers
- Identified multiple new clay and brine targets
- Successfully completed ground truthing for future drill locations
- Collected 66 samples for analysis
Negative
- Failed Integra Capital Business SA transaction after 15 months of negotiations
- Future programs require additional funding through asset divestitures and private placement
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company") is pleased to provide an update on the successful completion of the exploration program on its
The program was successful in identifying several new clay and brine targets within the same tectonic corridor that the Los Sapitos salar is situated. These new targets are over 3 km from the previously known Los Sapitos targets and significantly extends our priority exploration target area.
Mapping and sampling were focused within a 5 km radius of the Los Sapitos salar. Newly identified beds of evaporitic or hot-spring associated carbonate indicates that there is greater scale and complexity to the basin surrounding Los Sapitos than was previously recognized. The similarity of the rocks at these new targets to the carbonate cap seen above the more concentrated brines at Los Saptios suggests multiple cycles of evaporite deposits over the basins history. These are interpreted by the Company as positive prospective features.
A total of 56 clay, four brines and six carbonate rock samples were collected during the program. All samples have been shipped to the University of San Juan's (Institute of Mining Research department) laboratory for further analysis. Crews were also successful in ground truthing proposed drill locations on the Los Sapitos salar in preparation for a future drill program.
Exploration Plans for 2025
Origen is planning to follow up on its successful exploration program at Los Sapitos with a geophysical program over the newly identified areas of interest. This program will help delineate the basin configuration and guide future drilling.
With gold hitting historic highs, the Company will also be exploring its high-grade gold Wishbone project located adjacent to the Galore Creek project in British Columbia's Golden Triangle region.
Budgets and details of these programs are in the planning stage and will be funded through further noncore divestitures of assets and a future private placement.
Integra Capital Transaction Update
Origen will not be proceeding with the transaction with Integra Capital Business SA as previously announced on October 7, 2024. Unfortunately, after 15 months of talks, final transaction terms have not been agreed to between the two companies and the underlying property vendor of Los Sapitos. The parties continue to have exploratory discussions on how to mutually benefit from the development of our Argentinian assets.
About Origen
Origen is fully focused on its
Thomas Hawkins, P.Geo., a Qualified Person as that term is defined in NI 43-101 has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.
On behalf of Origen,
Gary Schellenberg
CEO and Director
For further information, please contact ir@origenresources.com.
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/249476
FAQ
What new discoveries did Origen Resources make at the Los Sapitos Lithium Project?
How many samples were collected during Origen's Los Sapitos exploration program?
What are Origen Resources' exploration plans for 2025?
Why did the Integra Capital transaction fail for Origen Resources?
