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Vancouver, B.C. TheNewswire - November 30 th 2021 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") announces that further to the Company's news release of November 24 th 2021, the Company has engaged the services of a Forage DCB Drilling of Rouyn-Noranda to undertake a minimum of 3,000 meters of drilling on the Bazooka Property.
Blake Morgan, Chief Executive Officer of Opawica stated, "The team at Opawica is thrilled to begin drilling on the Bazooka Property. Historically the Bazooka Property has hosted some exciting gold grades and we are looking forward to expanding on that."
Significant gold mineralization has been established on the Bazooka property from near surface to approximately 250 metres vertical depth during past drill programs completed on the property by previous owners. In 1944, Siscoe intersected an interval of 5.79 metres of 77.18 g/t Au (true width unknown); with historical drill intercepts ranging from narrow and intermittent anomalous gold. In 1981, Soquem reported values of up to 7.50 metres of 25.77 g/t Au; and in 2003 Lake Shore Gold Corp. intercepted 1.25 metres of 94.11 g/t Au; and RT Minerals Corp. intersected values of up to 17 metres of core length at 7.86 g/t Au, including 7.20 metres of 16.77 g/t Au. These recent intervals are estimated at approximately 85% to 93% true widths. This gold mineralization is known to exist within 50 metres on strike to the gold mineralization on the Yorbeau property and for a current strike length on Opawica's Bazooka property and optioned Bazooka property for approximately seven kilometres.
Opawica's drill program is designed to test the depth extension of the mineralized zone of the underground works. In 1951-52, Eldona Gold Mine sank a shaft of 125 m and at level -114 m and 634 m of drifts were developed and reached the fold nose feature of the Cadillac Larder Lake Break ("CLLB"). Four mineralized gold zones were outlined as follows: " Average of back panel samples grading 0.31 oz over 15.0 feet, average of back panel samples grading 0.55 oz over 3.5 feet by 69 feet long, average of back panel samples grading 0.06 oz over 5.3 feet by 60 feet long and channel samples grading 0.21 oz (over a drift section of 10 feet)" , (extract from technical report filed on Sedar on April 28, 2016).
Derrick Strickland, P.Geo. (OGQ No. 35402), is the Qualified Person for Opawica Explorations Inc. and approves the technical content of this news release. *The Qualified Person has not verified the information on Abitibi greenstone belt, Yamana and Wasamac gold resources. 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.
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.