16 Aug, Announcement:"NORTH WOODLAWN PROJECT JOINT VENTURE...

16 Aug, Announcement:

"NORTH WOODLAWN PROJECT JOINT VENTURE (EL5812) TRI ORIGIN MINERALS LTD & UNIVERSAL RESOURCES LTD Tri Origin Minerals Ltd (TRO) is pleased to announce that it has entered into the North Woodlawn Project Joint Venture whereby it may earn a 60% interest in EL 5812 from Universal Resources Ltd (URL).

EL 5812 is currently held by URL (90%) and private interests (10%). TRO is required to expend $500,000 over a five year period to earn its interest. The North Woodlawn Project Joint Venture area is contiguous with TRO’s existing tenement position in the Woodlawn District (Figure 1).

Upon earning its interest the Company would control approximately 20 kilometres strike length of the prospective Woodlawn Volcanics. Exploration potential of the tenement as identified by the current holders is indicated by the following:
• The Collector-Glen Prospects represent a large hydrothermal system which has lithological and structural features similar to the Woodlawn deposit. Diamond drilling by previous explorers, in the late 1990s returned encouraging results in CD002 and CD003..."

COMMENT: TRO owns 100% of Woodlawn underground deposit and tailings. They now are making sure getting hold of extra ground extending along the strike length:
http://sa.iguana2.com/cache/44cb01830bac025a06879d922b739fd5/ASX-TRO-421433.pdf

Once drilled, they ought to get additional production time and most likely, it will exceed 10 years.

Info on TRO:
http://www.hotcopper.com.au/post_thread.asp?fid=1&tid=382644#1345119

Gerry
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