Base Metals

TheNewswire - December 7 th 2021 Opawica Explorations Inc. is pleased to announce that it proposes to undertake a private placement to raise gross proceeds of up to $2,000,000 . The Company proposes to raise up to $2,000,000 through the sale of up to 3,636,363 flow-through units priced at $0.55 . Each FT Unit consists of one flow-through common share and one-half of a share purchase warrant, with each whole Warrant ...

(TheNewswire)



TheNewswire - December 7 th 2021 Opawica Explorations Inc. (the "Company") (TSXV:OPW) (OTC:OPWEF) is pleased to announce that it proposes to undertake a private placement to raise gross proceeds of up to $2,000,000 (the "Offering"). The Company proposes to raise up to $2,000,000 through the sale of up to 3,636,363 flow-through units priced at $0.55 (the "FT Units"). Each FT Unit consists of one flow-through common share and one-half of a share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.75 for a term of two years.

The Offering will be conducted under available exemptions from the prospectus requirements of applicable securities legislation and participation in the Offering will be available to existing shareholders in qualifying jurisdictions in Canada in accordance with the provisions of BC Instrument 45-354 (the "Existing Shareholder Exemption") and similar provisions in other jurisdictions' securities legislation and will be available to persons in qualifying jurisdictions in Canada who have obtained advice as to the suitability of the investment from a person registered as an investment dealer in accordance with the provisions of BC Instrument 45-536 and similar provisions in other jurisdictions' securities legislation.

The Company has set December 10 th , 2021, as the record date for the purpose of determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. Qualifying shareholders who wish to participate in the Offering should contact the Company as detailed below. If the Offering is oversubscribed, units will be allocated pro rata amongst all subscribers.

The proceeds from the sale of the flow-through portion of the Offering will be used for exploration activity on the Company's 100% owned Bazooka and Arrowhead properties located near Rouyn-Noranda, Quebec, where drilling is expected to commence this year.

Finders' fees in connection with the Offering may be payable in accordance with the policies and subject to the approval of the TSX Venture Exchange ("TSXV"). All Shares issued in connection with the Offering will be subject to a statutory hold period of four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the TSXV. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Opawica Explorations

Opawica Explorations

Overview

Eric Sprott, touted as a “Canada's biggest gold enthusiast," has injected somewhere between $200 and $300 million into the junior mining space in recent times. Sprott's investment strategy has recently shifted from investing in major mining companies towards investing in junior mining companies which he believes could provide him with big returns.

Sprott's investments may be of particular interest to investors considering the coattail investing strategy—this refers to mimicking the trades of well-known and historically successful investors to metaphorically 'ride the coattails' of respected investors in the hopes of realizing returns.

One company that Sprott has invested in recently is Opawica Explorations (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF), a Canadian junior mineral exploration and development company focused on Quebec and Newfoundland. The company is backed by a management team with decades of experience and success in the mining industry and lead investors GoldSpot Discoveries (TSXV:SPOT,OTCQX:SPOFF) and Eric Sprott.

Opawica Explorations has strategically located projects near high-yielding mines in the gold-rich and mining-friendly Rouyn-Noranda camp in the Abitibi gold belt in Quebec and the Rogerson structural gold corridor in Newfoundland. The Abitibi gold belt is the world's largest mineral-rich greenstone geological belt and hosts more than 170 million ounces of produced gold while the Rogerson structural gold corridor is well-endowed in gold deposits and showings.

The company has three early-stage projects including Arrowhead, Bazooka and McWatters which have shown promising drill and sample results for significant high-grade gold mineralization. Opawica Explorations may have the potential to replicate the success of several high-yielding nearby mines including Agnico Eagle's Mouska, Yamana Gold's Wasamac and Yourbeau Resources Astoria.

The company is fully funded, having recently raised C$5.3 million in June 2021 through non-brokered private placement despite only seeking to raise C$4 million. As a result of this successful funding round, the company is fully equipped to extend drilling programs without financial constraints.

Opawica Explorations recently signed a service agreement with GoldSpot Discoveries Corp. to assist in the exploration of its projects. The strategic partnership will maximize the chances of mineral discovery through the use of GoldSpot's proprietary technology and geoscience expertise. GoldSpot Discoveries has been granted a 0.5 percent NSR royalty on the Bazooka project and multiple royalty options on various projects.

Opawica Explorations is currently in the process of gaining permits in Quebec and prospecting the Newfoundland property. The company plans to begin drilling no later than October 2021 after sufficient geological assessments are completed on its properties.

Opawica Explorations' Company Highlights

  • Opawica Explorations is a Canadian junior mineral exploration and development company focused on identifying and acquiring gold in Quebec and Newfoundland.
  • Opawica Explorations has strategically located projects near high-yielding mines in the gold-rich and mining-friendly Abitibi gold belt in Quebec and the Rogerson structural gold corridor in Newfoundland.
  • The company has three early-stage projects including Arrowhead, Bazooka and McWatters which have shown promising drill and sample results for significant high-grade gold mineralization.
  • Opawica Explorations recently entered into a strategic partnership with GoldSpot Discoveries to assist in mineral exploration with its proprietary technology. GoldSpot Discoveries was granted a 0.5 percent NSR royalty on the Bazooka project and multiple royalty options on various projects as a result.
  • The fully-funded company is backed by a management team with decades of experience and success in the mining industry and lead investors, Eric Sprott and GoldSpot Discoveries Corporation.

Opawica Explorations' Key Projects

Bazooka Project

The Bazooka project is located in the high-grade gold region of the Abitibi gold belt in Quebec on the Cadillac Larder Lake Break. The property spans 1200 hectares including seven kilometres of strike length. The project is contiguous to the south-western border of Yamana Gold's Wasamac gold property that has proven and probable mineral reserves of 1.8 million ounces of gold at 2.56 g/t. Additionally, the Bazooka property is directly west of the IAMGOLD Corporation option which has produced high grades in the past.

From 2003 to 2005, drilling on the Bazooka property yielded widespread gold mineralization from a few hundred ppb to as high as 316.23 g/t of gold over 1.0 m in a singular hole. In 2017, drilling and historical holes confirmed a wide gold zone extending from the west to east at 275 m deep.

The property is believed to host higher-grade gold and will be operated on in three phases. The first phase will consist of a review of drill cores to establish a more consistent lithological code. The second phase will consist of drilling to obtain additional results in the central part of the high-grade gold zone associated with the four mineralized gold zones outlined by previous workings. Lastly, the third phase will conduct a resource estimate, metallurgical testing and preparation of the resource estimate report.

Arrowhead Project

The Arrowhead project is also located in the high-grade gold region of the Abitibi gold belt in Quebec. The property is fully surrounded by Agnico Eagle Mines Ltd. which recently conducted a significant drilling campaign to the west and north of Arrowhead.

The Arrowhead project has a history of exploration and drilling work which includes 34.29 g/t of gold sampled in 1929. Previous drill holes on the property intercepted 40 gold-copper mineralized zones, enhancing the potential for quartz-carbonate auriferous veins associated with E-V trending on the shear zone, gold-rich VMS deposits and gold-rich polymetallic veins. Fine visible gold was seen throughout the historical drilling and on the surface including 4000 ppb of gold at 0.37 m depth.

The property is believed to host new mineralized veins as a result of previous exploration work that was conducted but the economic potential has not yet been proven.

McWatters Project

The MacWatters project is located in the Abitibi gold belt region of Quebec. The project is continuous to the Long Bars Zone Break, the Yourbeau Rouyn property and the Granada Gold property that contains a gold resource of 2.3 million ounces. The project is associated with quartz veins in deformation zones.

The property has a limited exploration history including an MMI survey, walking IP and soil sampling. Several gold showings have been identified both within and in the surrounding area including visible gold reported. Historical drill results done by Opawica Explorations include 7.79 g/t of gold over 3 metres.

The property is believed to host significant gold opportunities for the company.

Opawica Explorations' Management Team

Blake Morgan — CEO, Director

Blake Morgan has 15 years of experience in the mining industry including 10 years dedicated to the mining and natural resource sector in Australia working with Rio Tinto, BMA Metals (a subsidiary of BHP) and Santos Ltd. Gaining first-hand knowledge, culture and an understanding of mining operations, Morgan then made the move from Australia to Canada and has been instrumental in consolidating significant exploration land packages and financing their development for private resource exploration companies in British Columbia.

Sandra Wong — CFO

Sandra Wong is a Chartered Professional Accountant with over 10 years of working experience with several TSX Venture Exchange- and Canadian Securities Exchange-listed companies in the area of financial reporting and company management.

Chris Reynolds — Director

Chris Reynolds has been investing in the natural resource sector for over 10 years. Delivering solutions for corporate structure, strategy and communications for small-cap juniors, Reynolds was an instrumental part in the incubation of Lithium Consolidated Mineral Exploration which went public on the ASX in 2017. He started his career at Longview Capital Partners in corporate development, then worked as an investment advisor at Mackie Research. He is currently the Founder of Progenitor Metals Corp.

Owen King — Director

Owen King has 20 years of experience in the financial markets and management consulting fields. King was employed at Mackie Research as an investment advisor focusing on venture capital financings. Since 2014, King has been working with public companies in business development and assisting with capital raises and IPOs. Before this, King was a management consultant working in the high-tech industry installing auditable quality management systems in small businesses.

Philippe Harvard — Director

Philippe Harvard has been involved in the mineral exploration industry since 2008 and is one of the principals of Investissements Gema Inc., a private company engaged in the purchase and sale of mineral properties in the Province of Quebec. Harvard is also the president of TelKel, an independent telecommunications company in the province of Quebec. Harvard is also the President of Cubicule Studio, a software engineering company.

Keep reading... Show less
Opawica Files Annual Audited Financial Statements for Recovation of Cease Trade Order

Opawica Files Annual Audited Financial Statements for Recovation of Cease Trade Order

(TheNewswire)

Opawica Explorations Inc.

Vancouver, B.C. TheNewswire - January 28, 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE: A2PEAD) (OTC:OPWEF) (the " Company " or " Opawica ") announces that further to the news releases dated December 30, 2021 and January 14, 2022, it has completed the filing of its annual audited financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended August 31, 2021 (the "Annual Filings") under its SEDAR profile on www.sedar.com . Therefore, it expects the Company's Management Cease Trade Order ("MCTO") in respect of the delayed Annual Filings to be revoked by the securities regulators in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults in due course.

Keep reading... Show less
World Copper Announces Closing of Cardero Plan of Arrangement

World Copper Announces Closing of Cardero Plan of Arrangement

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) ("World Copper" or the "Company"), announces that the previously announced plan of arrangement whereby World Copper and Cardero Resource Corp. ("Cardero") agreed to combine their respective businesses (the "Arrangement") has now closed. Pursuant to the Arrangement, a total of 29,389,236 common shares of World Copper have been issued to Cardero shareholders based on an exchange ratio of 0.200795, and Cardero has amalgamated with 1302172 B.C. Ltd. to become "Zonia Holdings Corp.", a wholly-owned subsidiary of World Copper.

"The team at World Copper has been eagerly awaiting the addition of the Zonia property to our portfolio and we welcome the completion of this merger," stated Nolan Peterson, CEO of World Copper. "Zonia will be an integral part of our development plans as we pursue our strategy of advancing and de-risking our portfolio of assets in premier copper jurisdictions."

Keep reading... Show less
Emerita Provides Corporate Update and Recent Drill Results From IBW Project

Emerita Provides Corporate Update and Recent Drill Results From IBW Project

Emerita Resources Corp. (TSX V: EMO; OTC: EMOTF; Frankfurt LLJA) (the "Company" or "Emerita") is providing an update of its ongoing exploration programs in Spain. The exploration program has resumed at its wholly-owned IBW project ("IBW" or the "Project") with four diamond drills operating presently. Progress is being hindered both in the field and at the assay labs presently due to the Covid-19 pandemic. Presently, there are seven Emerita employees in quarantine. Thankfully, they are mildly symptomatic to asymptomatic and are expected to return in approximately one week. The assay laboratory has also informed the Company that due to multiple staff in quarantine the assay production will be slowed for a time.

The following updates are provided below:

Keep reading... Show less
Sienna Commences Drilling on the Blue Clay Lithium Project in the Clayton Valley of Nevada

Sienna Commences Drilling on the Blue Clay Lithium Project in the Clayton Valley of Nevada

Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) ("Sienna" or the "Company") is pleased to announce that the maiden multi-hole drill program on the Blue Clay Lithium Project in Clayton Valley, Nevada is now underway. This project consists of 94 contiguous claims totaling approximately 1950 acres prospective for lithium right in the heart of the Clayton Valley in Nevada, which is home to the only currently producing lithium region in North America.

Jason Gigliotti, President of Sienna Resources, states: "It is very exciting to commence our maiden drill program on the Blue Clay Lithium Project right in the heart of the Clayton Valley, the preeminent address for lithium in North America. It is perfect timing to commence a drill program at a time when lithium demand and prices are at all-time highs. Nevada has become one of the most sought after lithium addresses in the world, and Sienna is located in multiple locations in this prolific region. I was physically on the property recently and I am very optimistic about the prospects for this project and expect to have a steady flow of news going forward."

Keep reading... Show less

Teck Provides Sales, Production and Guidance Update

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today provided select unaudited fourth quarter and 2021 sales and production results in light of the impacts of recent logistics disruptions in British Columbia, Canada, as well as an update on the ongoing impact of COVID-19 across the business, and commentary regarding the outlook for 2022.

Strong steelmaking coal pricing and increased sales should result in strong cash flow in H1 2022
Demand for our steelmaking coal remains strong and the FOB price has risen from US$356 per tonne at the end of December to US$445 per tonne. At the same time, record high clean coal inventories at our mines are expected to result in sales exceeding production by 1.2 - 1.5 million tonnes in 2022. The strong pricing environment and increased sales volumes should result in strong cash flow in the first half of 2022.

Keep reading... Show less
American west logo

Quarterly Activities Report for the Period Ended December 2021

American West Metals Limited (ASX:AW1) (“American West” or “The Company”) is pleased to report on its quarterly activities for the period ending 31 December 2021. During the quarter, the Company’s focus was ramping up exploration activities at the West Desert and Storm/Seal Projects following a successful IPO.

Keep reading... Show less

Latest Press Releases

Related News

×