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Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") is pleased to announce its crew has engaged the services of GoldSpot Discovery Corp. ('GoldSpot') to undertake a Multi-Parameter Airborne Survey System (M-PASS) over its Arrowhead property in Rouyn Noranda camp of the Abitibi in Quebec.
While in the process of integrating and reinterpreted various datasets (geochemical, geophysical, geological) from the Arrowhead Property, the Company collaborated with GoldSpot and determined that the Arrowhead Property was lacking reliable Airborne survey. To that end, the corporate decision was made to fly the M-PASS over the Arrowhead Property using the Triaxial Magnetic Gradiometer and VLF Platform of the M-Pass system.
The triaxial magnetic gradiometer system consists of three GSMP-35U high precision potassium magnetometers mounted on a tri-directional bird that is towed by a A-Star helicopter platform. The tri-directional bird is towed with a 100' cable to ensure adequate separation between the helicopter and the magnetic survey platform.
Blake Morgan, chief executive officer of Opawica stated, "As we move towards our drilling campaign, this will provide critical data to focus and potentially expand our drill program. The Opawica team and GoldSpot have been tirelessly working to produce high priority drill targets and aim to have further news for our shareholders as soon as possible."
Summary Highlights
- Historical channel sampling of 90.45 grams per tonne gold ("g/t Au") over one metre
- Native gold has been reported to occur in relatively small shoots
- Within the Rouyn-Noranda region of the Abitibi gold belt
- VMS Gold-rich polymetallic/Quartz-carbonate auriferous veins potential
Arrowhead Property
The first prospecting started in 1920 on the major shear zone located in the northern part of the Property. In 1926, the exploration works consisted of prospecting, pitting, trenching and diamond drilling, mainly to test two shear zones containing quartz-carbonate veins with free gold. Gold values of up to 45.05 g/t were obtained over appreciable widths. Two main veins, designed as "A" and "B", were explored. This work subsequently led to underground exploration that started in 1936, a three-compartment shaft was sunk to a depth of 154m. Levels were established at depths of 60.96m, 106.68m and 152.40m. Drifting and crosscutting were carried out on all three levels on the "A" and "B" veins.
The 609.60 metre diamond drilling program carried out in 1929 returned several gold intersections, the highest grading 13.44 g/t Au over 3m. On surface, the "A" vein was traced over 152.40m, and gold values of up to 90.45 g/t Au (channel sampling) were obtained over one metre.
The historical drill holes by SOQUEM, Groupe Minier and Agnico-Eagle intercepted 40 mineralized zones; most were mineralized with gold, but some returned values of copper and zinc. These mineralized intercepts enhance the Property's potential for four types of mineralization:
- Gold-rich volcanogenic massive sulphide (gold-rich VMS) deposits
- Volcanogenic massive sulphide (VMS) deposits, like at the Louvicourt mine
- Gold-rich polymetallic veins, like at the Doyon and Mouska gold mines
- Quartz-carbonate auriferous veins associated with regional E-W trending faults and shear zones, like at the O'Brien, Kewagama, Central-Cadillac, Wood-Cadillac and Lapa mines
Several veins have been found on the Property, but the two quartz-carbonate veins known as veins "A" and "B" appeared to be the focus of the initial work in 1930's. These two veins and many of the others strike E-W in sheared zones that cut metabasalts and metadacite. The veins dip steeply to the north and parallel to the schistosity.
Native gold is reported to occur in relatively small shoots and generally, where visible, in the fractures of the quartz. Both the "A" and "B" veins and most of the others on the Property consist of discontinuous lenses in the shear that forms the vein zone. The Project has a favourable position on the Cadillac-Larder Lake Fault and represents an attractive target for future exploration.
Derrick Strickland, P. Geo (OGQ No. 35402), is the Qualified Person for Opawica Explorations, and has reviewed and approved the technical content of this news release.
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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103010
Figure 1. Location of the Mt Oxide Project, within context of Mt Isa Inlier.
Figure 1. Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Proposed Transaction, dark grey licenses will be run independently by Cobre.