Opawica Explorations' Bazooka Project: A Key Potential Asset in Abitibi Gold Rush

Opawica Explorations' Bazooka Project: A Key Potential Asset in Abitibi Gold Rush

(TheNewswire)

Opawica Explorations Inc.

March 13 th 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, is pursuing ambitious growth objectives. With its 2025 exploration campaign at the Bazooka Property ("Bazooka") already underway, Opawica is targeting 50-metre step-outs in areas where previous assays exceeded 10 gt Au . In doing so, the Company aims to establish Bazooka as the next up-and-coming gold hotspot in the Abitibi Gold Belt.

Although Opawica's market capitalization is only about $8.5 million (as of March 8, 2025) on a fully diluted basis, last year's Lac Gold (Rouyn) Inc.'s acquisition of Yorbeau Resources Inc.'s Rouyn property set the floor on valuation expectations in the immediate region. The deal was structured with a total purchase price of C$25 million.  Additionally, Lac Gold granted Yorbeau a 2% net smelter returns royalty on any minerals produced from the property.


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As the maps below show, Bazooka borders Lac Gold's Rouyn Property directly to the west (Opawica's McWatters Property borders Rouyn to the east).


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The 2024 acquisition was driven by several strategic factors. Foremost, the Rouyn property boasts significant mineral resources with room for expansion. Furthermore, Quebec's Abitibi Gold Belt reputation as a world class gold-producing jurisdiction played a key role in Lac Gold's decision, offering stability, investor-friendly policies, and well-developed mining infrastructure.

With the Lac Gold Rouyn Property holding  a total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces*. Bazooka has yet to establish the same historical pedigree as Rouyn at the time of its sale. However, historical drilling campaigns from 2003 to 2005, 2017 and more recently in 2021 to 2022 have revealed significant gold mineralization on the property, with notable intercepts, including:

  • 77.18 g/t Au over 5.8 m

  • 7.70 g/t Au over 20.5 m

  • 25.77 g/t Au over 7.5 m

  • 7.86 g/t Au over 17 m

  • Historical high-grade intercept of 316.23 g/t Au over 1 m

These historical results indicate Bazooka's potential—especially with the property located on Cadillac-Larder Lake Fault Zone. This proximity holds immense significance due to its high gold potential, proven geological setting, existing infrastructure, and strong investor interest. This fault has historically hosted some of the richest gold mines in Canada, and any property in this region generally benefits from enhanced exploration success rates and commercial viability.

Along the fault zone, Bazooka covers approximately seven kilometers of this prolific geological structure, which is associated with numerous gold deposits. This mineralized zone is spatially associated with its boundaries, indicating a direct relationship between the property's gold potential and its proximity to this major structural feature.

Short- and long-term goals

With the 2025 drill program underway, the short-term goal for Opawica is simple: to execute the first phase (5,000 m) of a planned 20,000 m drill targets campaign. The Company has already conducted airborne geophysics, downhole geophysics, induced polarization (IP) surveys, ground sampling, and a Phase 1 drill program to better understand the mineralization. The ultimate objective is to confirm and expand known mineralization and work towards an official resource estimate—just as Yorbeau Resources accomplished at Rouyn.

In the long run, Opawica believes that successful execution of its plan will unlock a significantly greater valuation. This sentiment is backed up by corporate actions. Since joining Opawica in 2020, CEO Blake Morgan has become the company's largest shareholder, .  This commitment exemplifies his confidence in the company's trajectory and long-term prospects.

Fiscally, Opawica rests in a strong financial position to execute its plan after the Company raised $2.4 million between November and December 2024 bolstering its treasury for 2025. With gold prices exceeding US$2,900 per ounce and with interest in emerging gold projects is at an all-time high, the Company is positioned to drive strong shareholder value in 2025.

In the meantime, investors await the next round of assay results from Bazooka, expected to be reported in the spring of 2025. Positive results could suggest that Bazooka is poised to become the next major underexplored gold discovery in the Abitibi Gold Belt. To illustrate the significance, one needs to look no further than Lac Gold's Rouyn property, located directly to the east.

Mr.Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.

*Yorbeau Resources Inc. NI43-101 October 2011, on the Rouyn Property, Total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces (sedarplus)

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. 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: 236-878-4938

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.sedarplus.ca. 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) 2025 TheNewswire - All rights reserved.

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April 24th, 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc . (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metals in the Abitibi Gold Belt is providing an update on its 2025 exploration campaign at the Bazooka Property ('Bazooka')..

In drill hole OP-25-31 Opawica Explorations intersected a broad 28 m zone of shearing, silicification, quartz veining, some arsenic. The d rill hole intercepted the target zone from 307 to 335 m, consisting of well-sheared, silicified and quartz veining sediments. The XRF readings of arsenic range from 1000 ppm As at the beginning of the zone to 200 ppm As at the end of the zone. The central part of the zone maintained a 1000 ppm As. One point XRF reading gave a reading of 92 g/t Au

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(TheNewswire)

Opawica Explorations Inc.

April 17th, 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, provides an update on its 2025 exploration campaign at the Bazooka Property ("Bazooka") .

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(TheNewswire)

Opawica Explorations Inc.

April 15th, 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc . (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metals in the Abitibi Gold Belt is providing an update on its 2025 exploration campaign at the Bazooka Property ('Bazooka').

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(TheNewswire)

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Freegold Ventures Limited - Results of the Annual General and Special Meeting

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Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company ") is pleased to announce that all matters set out in the Management Information Circular dated May 26 2025 for the 2025 Annual General and Special Meeting of Shareholders held on June 27, 2025 (the "Meeting") were approved by the shareholders holding 98,154,137 shares were voted representing approximately ~ 18.56% of the outstanding shares of the Company.

Freegold Logo (CNW Group/Freegold Ventures Limited)

The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:

MOTIONS

NUMBER OF SHARES

PERCENTAGE OF VOTES CAST

FOR

AGAINST

WITHHELD/
ABSTAIN

FOR

AGAINST

WITHHELD/
ABSTAIN

To elect as Director :Kristina Walcott

96,353,303


1,800,834

98.165 %


1.835 %

To Elect as Director: Alvin Jackson

97,016,593


1,137,544

98.841 %


1.159 %

To Elect as Director: David Knight

85,790,018


12,364,119

87.403 %


12.597 %

To Elect as Director: Garnet Dawson

97,308,977


845,160

99.139 %


0.861 %

To Elect as Director: Ron Ewing

96,839,477


1,314,660

98.661 %


1.339 %

To Elect as Director: Glen Dickson

85,396,927


12,757,210

87.003 %


12.997 %

To Elect as Director: Reagan Glazier

79,513,338


18,640,799

81.009 %


18.991 %

To Elect as Director: Maurice Tagami

97,900,807


253,330

99.742 %


0.258 %

To Elect as Director: Vivienne Artz

93,614,569


4,539,568

95.375 %


4.625 %

The Company's shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the Company's auditors, as set forth in the management information circular.

The Company's shareholders approved the Company's new omnibus equity incentive plan.

Each of the matters voted upon at the Meeting is discussed in detail in the Company's Information Circular dated May 26 th, 2025, which is filed under the Company's profile at www.sedarplus.com.

Golden Summit Project Update:

Drilling at Golden Summit is progressing well. Drilling is focused on resource definition, which includes both expansion and infill drilling, as well as geotechnical and metallurgical holes. Like the 2024 drill program, the current efforts aim to upgrade inferred resources to indicated status in preparation for the upcoming pre-feasibility study, which is expected to commence later this year. An updated mineral resource estimate is expected to be finalised soon, and the initial assay results from the 2025 drill program are also anticipated shortly.

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited  
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2024 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect   on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/27/c9322.html

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(TheNewswire)

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Highlights 

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