TheNewswire - October 25 th 2021 - Opawica Explorations Inc. is pleased to announce that it has entered into a purchase agreement to acquire 100% ownership in the expansion of its Little d’Espoir lake Property located in the Exploits Subzone, Newfoundland. The added mineral claims consist of 162 claims encompassing a land area of approximately 40.5km ² making the Little d’Espoir lake Property a commanding ...

(TheNewswire)

Opawica Explorations Inc.

TheNewswire - October 25 th 2021 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce that it has entered into a purchase agreement to acquire 100% ownership in the expansion of its Little d'Espoir lake Property (the "Property") located in the Exploits Subzone, Newfoundland.

The added mineral claims consist of 162 claims encompassing a land area of approximately 40.5km ² , making the Little d'Espoir lake Property a commanding contiguous land package of 338 mineral claims comprising a total land area of 84.5km ² .

The additional claims were acquired to cover surrounding transecting faults and associated secondary and tertiary structures situated within the siliciclastic sediments of the Davidsville Group. The secondary and tertiary structures in the area are important as they are underexplored and have been proven to host epizonal gold both to the north and south of the Property.


Click Image To View Full Size

Blake Morgan, chief executive officer of Opawica stated, "After having boots on the ground this season, the Opawica team needed to secure this land position. Little d'Espoir lake Property will be one property we focus on, as we continue to move towards drilling in Newfoundland ."

About the Property

The Property lies within an area known as the Exploits Subzone which consists of a major thrust zone that formed as a result of the closing of the ancient Iapetus Ocean. The Property consists of a range of Siliciclastic sediments and assemblages of felsic volcanics and granitoids Cambrian to Ordovician in age.


Click Image To View Full Size

In 1985 several silicified boulders were found on the shoreline of d'Espoir Lake which retuned anomalous levels of Cu, Pb, Zn, As and Ag. A limited amount of geological mapping and baseline reconnaissance has been completed.

Homes in 1987 Selco-BP Resources Canada Ltd. analysed a grab sample (HR 1592) which assayed above the detection limit for copper at >1%. Several other samples, including HR 1588 and HR 1593 assayed 0.73% Cu and 0.19% Cu respectively. In 1989, the Newfoundland and Labrador mineral branch research program resulted in one sample returning 0.66 g/t Au (Colman-Sadd, 1989).

A 1986 geophysical magnetic survey executed by BP Selco suggested a few narrow zones of higher magnetic amplitude response of 500 to 2000 nt above background signatures, may represent a new target. These above background signatures are found in clusters in the west-central portion and south-east central portion of the historical grid (Holmes, 1986), located just north of D'Espoir Lake.

Holmes (1986) reported the general trend of the VLF responses is east west except at the eastern side of Little D'Espoir Lake where there is a sharp swing to the northeast.

Transaction Outlined

The Company has agreed to acquire a 100% interest in the Little d'Espoir lake Extension Property for consideration of $30,000 and 600,000 common shares of the Company. The agreement is subject to the acceptance of the TSX Venture Exchange.

Derrick Strickland, P.Geo (1000315), is the qualified person for Opawica Explorations Inc. and has reviewed and approved the technical content of this news release.

FOR FURTHER INFORMATION CONTACT:

Blake Morgan

President and Chief Executive Officer

Opawica Explorations Inc.

Telephone: 604-681-3170

Fax: 604-681-3552

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.

Forward-Looking Statements

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.

News Provided by TheNewsWire via QuoteMedia

VVC To Issue Additional Shares to Stockhouse

VVC To Issue Additional Shares to Stockhouse

VVC Exploration Corporation (" VVC " or the "Company") (TSX-V:VVC) announces the following:

Pursuant to an arrangement with Stockhouse Publishing Ltd. ("Stockhouse") in August 2021, Stockhouse is assisting VVC with general market outreach and investor awareness as the Company continues to grow its investor base.

Keep reading... Show less
Ground Geophysics Identifies Copper Drill Targets Supporting Surface Mineralisation At Picha Project, Peru

Ground Geophysics Identifies Copper Drill Targets Supporting Surface Mineralisation At Picha Project, Peru

Valor Resources Limited (“Valor” or the “Company”) is pleased to announce the commencement of a ground geophysical survey at the Company’s Picha Project in Peru. A ground magnetic and Induced Polarisation (IP) survey has commenced with the first three lines of the IP survey completed and 70% of the ground magnetic survey completed. Preliminary results have been received for the first three lines of the IP survey which have revealed chargeabilty anomalies at depth which correlate with surface mineralisation at the Cumbre Coya, Maricate and Cobremani target areas (see Figures 1, 2 & 3 – IP lines L_7776, L_8176 & L_8576).

Keep reading... Show less

The Copper Price Today: A Brief Overview

From wiring and plumbing to electric vehicles and electronics, base metal copper is key for a range of important applications in various industries.

In fact, the metal has earned the moniker "Dr. Copper" because its widespread use makes it a valuable indicator for global economic health. Knowing the factors that move the copper price today is therefore helpful for investors who are focused on the bigger picture.

Even though the red metal took a COVID-19-induced dive in the early spring of 2020 along with most other commodities, 2021 turned out to be a record-setting year for the copper price.

Keep reading... Show less

Ivanhoe Mines Reports No Impact from the Omicron Variant on Any of Its Operations

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) reports that the new COVID-19 variant, Omicron, has had no impact on any of its mining or mine development operations in South Africa or the Democratic Republic of Congo (DRC).

No cases of the new variant have been detected at the company's Kamoa-Kakula and Kipushi projects in the DRC and, while there have been some recent infections among employees and contractors working at the company's Platreef Project in South Africa, all people infected to date have either been asymptomatic or experienced very mild symptoms.

Keep reading... Show less
Libero Copper Upsizes Private Placement to $7 Million and Announces Closing of First Tranche

Libero Copper Upsizes Private Placement to $7 Million and Announces Closing of First Tranche

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) (" Libero Copper ") is pleased to announce that due to strong investor demand, it has increased the non-brokered private placement announced on November 8, 2021 (the " Offering ") for the sale of up to 14,000,000 units (the " Units ") at a price of $0.50 per Unit for gross proceeds of up to $7,000,000 . Each Unit will be comprised of one common share (each, a " Unit Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant ").

Keep reading... Show less
Another Exceptional Copper-Vanadium-Lead Intersection At Nosib

Another Exceptional Copper-Vanadium-Lead Intersection At Nosib

and step out hole extends copper-vanadium-lead mineralisation along strike to the NE

Golden Deeps Limited (“Golden Deeps” or “Company”) is very pleased to announce further, exceptional, copper-vanadium-lead-silver intersections from the second diamond drill hole at the Nosib Block (“Nosib”) Prospect, located in the Otavi Mountain Land of northern Namibia (see location Figure 3).
Keep reading... Show less

Top News

Related News