TheNewswire October 19 th 2021 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce its crew has completed Gold Grains in Till Sampling and prospecting program on all its Newfoundland projects; Chapel Island, Density, Eclipse, Mass, and Little d'Espoir Lake Property
Blake Morgan, chief executive officer of Opawica stated, "I like what our team has done by chasing up gold grains in remote untested areas. When the results come in, I am confident that the team will have discovered new areas with gold grains in till."
The Company collected a total of 121 regional gold in grain till samples on all its Newfoundland Properties. The program was designed by Opawica to sample untested areas and augment the understanding of gold grain distribution in the region. The Company engaged the services of a helicopter to access areas of the properties which were previously inaccessible and permitted field crews to sample difficult to reach areas.
At each sample site, one 2-5 kg till sample was collected for gold grain analysis. At the same location soil samples were also taken. During the program, 12 rocks samples were also collected and submitted for assay.
The 121 till samples have been submitted for gold grain analysis at Overburden Drilling Management ("ODM") in Ottawa. ODM specializes in heavy minerals extraction and gold grain analysis. All soil and rock samples were shipped to Activation Laboratories Ltd. in Ancaster, Ontario for analysis. Activation Laboratories Ltd. is ISO/IEC 17025 accredited by the Standards Council of Canada.
The wholly owned Opawica project areas cover more than 217 square kilometres along and between the Red Indian Line and the Valentine Lake shear zone in the central gold belt of Newfoundland. The Company's prospective holdings extend for more than 50 km along the central gold belt, which is a northeast-trending structural zone extending across Newfoundland.
Derrick Strickland, P. Geo (1000315), is the qualified person for Opawica Explorations, and has reviewed and approved the technical content of this news release.
The Company has engaged Bello Capital Partners ("Bello") to provide strategic digital media services to increase public awareness of and interest in the Company, its management and its securities by co-ordinating certain investor relations and corporate public relations with members of the investment community, the financial media and the general public. Under the terms of the agreement, Bello will provide a combination of content development, web development, media buying and distribution, and campaign reporting at a total cost of $500,000 CAD over a six-month period. Bello is arm's length to the Company and does not currently own any securities of the Company.
Bello Capital Partners is a full-service capital markets advisory firm based in Vancouver, BC, that specializes in marketing publicly listed companies in North America and Europe.
Grant of Stock Options
The Company has granted 200,000 incentive stock options exercisable at $0.34 per share until October 19, 2024, to directors, officers, and consultants of the Company. The stock options are subject to the acceptance of the TSX Venture Exchange.
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.
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