The Conversation (0)
(TheNewswire)
TheNewswire November 16 th 2021 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce crews are being mobilized for the Multi-Parameter Airborne Survey System (M-PASS) over its Bazooka, McWatters, Arrowhead Properties in Rouyn Noranda camp of the Abitibi in Quebec.
Blake Morgan, Chief Executive Officer of Opawica stated, "Perfect timing has enabled Opawica to undertake an airborne survey on all three core Quebec Properties at once. I am looking forward to the results as we move towards our drill program this year."
Bazooka Property
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.
Arrowhead Property
The Arrowhead property is fully surrounded by Agnico Eagle Mines Ltd., a major gold producer in the Abitibi region. Previous drill holes on the property intercepted 40 gold-copper mineralized zones enhance the property's potential for four types of mineralization: gold-rich volcanogenic massive sulphide deposits, like at the Bousquet No. 2 and LaRonde mines; VMS deposits, like at the Louvicourt mine; gold-rich polymetallic veins, like at the Doyon and Mouska gold mines; and quartz-carbonate auriferous veins associated with regional east-west-trending faults and shear zones, like at the O'Brien, Kewagama, Central-Cadillac, Wood-Cadillac and Lapa mines.*
Mcwatters Property
The McWatters and Bazooka properties are continuous to the Long Bars zone break, the Yorbeau Rouyn property with a total resource of 705,020 ounces of gold from the Augmitto deposit that has measured and indicated resources of 247,000 tonnes grading 6.08 g/t Au and inferred resources of 633,000 tonnes at 7.79 g/t Au*. The Yorbeau Astoria deposit has measured and indicated resources of 1,429,564 tonnes grading 5.18 g/t Au and inferred resources of 302,597 tonnes at 5.4 g/t Au.*
Derrick Strickland, P.Geo. (OGQ No. 35402), is the Qualified Person for Opawica Explorations and approves the technical content of this news release. The qualified person has not verified the information on Abitibi greenstone belt, Augmitto, Astoria, Wasamac and Granada gold resources, and 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.
About Opawica Explorations Inc.
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:
Blake Morgan
President and Chief Executive Officer
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.
