TheNewswire November 24 th 2021 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") has commenced the drill permitting process on its recently identified 14 high property gold targets at the Bazooka Property of the Abitibi Gold Camp.
The 14 highly favourable drill targets were done in collaboration with Opawica and Gold Spot. The team has integrated and reinterpreted various datasets (geochemical, geophysical, geological) to provide a cohesive and informed geoscientific interpretation which has facilitated drill targeting for the upcoming drill program at Bazooka Property. Structural interpretations and 3D modeling by GoldSpot have led to the development of a refined geological model including fold events, lithostratigraphic differentiation, and the identification of faults.
The Bazooka project is contiguous to the southwestern border of Yamana Gold's Wasamac Gold Property which hosts existing proven and probable mineral reserves of 1.8 million ounces of gold at 2.56 grams per tonne. Wasamac has proven 1,028,000 tonnes at 2.66 g/t Au and probable of 20,427,000 tonnes at 2.56 g/t Au (Yamana Gold press release Jan. 21, 2021). *
The Bazooka Property occurs along one of the most prolific auriferous structures in the world, the Cadillac-Larder Lake Break/Fault. The Cadillac-Larder Lake Break/Fault, in part, marks the boundary between the Archean Abitibi sub-province in the north and the predominantly metasedimentary Pontiac sub-province south of the fault.
In 2003, Lake Shore Gold Corporation drilled 1m with 316.13 g/t Au on the Property followed by 2m at 12 g/t Au and 4.5m at 7.9 g/t Au in 2005. A few highlights of the most recent historical drilling on the Property in 2011 by RT Minerals Corp. returned 17m at 7.8 g/t Au and 1.86m at 29.43g/t Au.
Gold mineralization on the Property occurs within mixed, up to 60m wide (estimated true width), strong quartz-carbonate-sericite and talc-chlorite schists of sedimentary and ultramafic to mafic volcanic protoliths, respectively, and is referred to as the Main Zone. The alteration and mineralization are spatially associated with the Cadillac-Larder Lake Break/Fault zone, which is at the base characterized by up to 2.0m wide (estimated true width), strongly graphitic fault. The graphitic fault generally marks the contact between the sedimentary and ultramafic metavolcanic rocks.
The Main Zone is characterized by strong to intense quartz-carbonate-sericite and talc-chlorite-carbonate+/-quartz alteration, is generally mineralized with trace to 3% pyrite+arsenopyrite+/-chalcopyrite+/- pyrrhotite and locally contains fine specks of free gold in narrow quartz veins/stringers and highly silicified rocks. Patchy to locally pervasive fuchsite alteration (weak to strong) often accompanies the quartz-sericite-carbonate alteration. Quartz-tourmaline veins occur locally both within and adjacent to the Main Zone.
Derrick Strickland, P.Geo. (OGQ No. 35402), is the Qualified Person for Opawica Explorations Inc. and approves the technical content of this news release. *The Qualified Person has not verified the information on Abitibi greenstone belt, Yamana and Wasamac gold resources. The information disclosed is not necessarily indicative of mineralization on Opawica's properties that are the subject of this press release. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the company's properties.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec and in Central Newfoundland and Labrador. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2021 TheNewswire - All rights reserved.