Vancouver , BC – TheNewswire – April 21, 2021
One World Lithium Inc. (C NSX: OWLI. CN ) (OTC:OWRDF) (the “Company”) (“OWL”) The Company is pleased to announce the DDH-3 drilling program has formally started today, April 21, 2021, with mobilization of heavy equipment to the site. Drilling will occur 24 hours a day.
The drilling date was previously announced to be April 15, 2021, however the San Felipe Baja 250 desert race took place from April 14 to 18, 2021 which crossed the DDH-3 location for five days, so the drilling program was delayed.
Some of the following information has been previously reported in the Company’s news released on March 16 and April 06, 2021. DDH-3 (diamond drill hole) is 50 kilometers south of DDH-2 and depending on results, OWL may drill more diamond drill holes in the immediate area.
Mike Rosko, the Operator, prefers drilling at DDH-3’s location as there is historic and current hydrothermal activity that are evident and is often a source of lithium, such as in the Lithium Triangle in Argentina and Chile. The surface area of the hydrothermal activity at the DDH-3 location is approximately 20,000 hectares or 77 square miles.
DDH-3’s total depth to sample brines or sediments where hydrothermal activity may have occurred which is likely between 300 and 400 meters. There has not been any previous drilling at the south end of the Property, so the expected time to reach the total depth at the DDH-3 location is unknown.
The Salar del Diablo Property is 103,450 hectares (399 square miles) and located in the State of Baja California, Mexico. Globally, the Salar del Diablo is one of the larger Salars to be drilled in 2021.
OWL currently owns a 60% property working interest. The three or more drill holes are part of the Phase three program and on completion, OWL will then own an 80% property working interest with a onetime option on receiving a Bankable Feasibility Study to purchase an additional 10% property working interest for a total property working interest of 90 %. For more information on Salar del Diablo property and the terms of the Company’s option thereon, please see the Company’s press release dated March 10, 2017, and July 28, 2017.
The States of Sonora and Baja California in Mexico have deemed mineral exploration an essential service with no disruptions to date caused by Covid-19.
All drill hole samples from the current three or more holes will be assayed at ALS labs with an expected turnaround time of two to three weeks. After interpretation, the assay results will be released.
Mike Rosko, SME Registered member and a Qualified Person as defined by the Canadian National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this news release.
About One World Lithium Inc.
One World Lithium Inc. is an exploration company focused on lithium in brine projects and new lithium separation technologies. OWL has the right to own 100% of the separation technology, subject to a positive proof of concept program. OWL has earned a 60% property interest in the Salar del Diablo property. On completing the Phase three drill program, OWL will earn an additional 20% property interest and has an option to purchase a further 10% property interest for a total of a 90% property interest in the 103,450 hectare (399 square mile) Salar del Diablo Lithium Brine project located in the State of Baja California, Mexico.
On behalf of the Board of Directors of One World Lithium Inc.
“Douglas Fulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com
or call 1-604-564-2017 Extension-3.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including the intention of OWL to proceed with the advancement of the Property or with the Separation Technology. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this press release. OWL disclaims any intent or obligation to update publically any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company’s expectations include: (I) inability of OWL to execute its business plan and raise the required financing (II) accuracy of mineral or resource exploration activity (III) continued access to mineral property (IV) risks and market fluctuations common to the mining industry and lithium sector in particular and (V) advancements in new separation technologies. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2021 TheNewswire – All rights reserved.
© 2021 Canjex Publishing Ltd. All rights reserved.