One World Lithium Announces Diamond Drill Hole - 4 Reached Total Depth 518 Meters and Sampling Completed
VANCOUVER, October 19, 2021 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (CNSX:OWLI.CN) (the "Company") ("OWL") is pleased to announce DDH-4 (diamond drill hole) reached a total depth of 518 meters or 1,700 feet at its Salar del Diablo Lithium Brine Exploration Project in Mexico. One zone was sampled between 331 and 381 meters and a second zone was sampled between 460 and 518 meters which are sampling intervals of 50 and 58 meters. All samples taken from DDH-4 has been sent to ALS prep lab in Hermosillo, Mexico where the samples from DDH-1, 2, 3 & 4 will be prepared for assaying at the ALS Vancouver Laboratory. All sample results will be announced at the same time after receiving a drilling report and recommendations from the Operator that may include additional drilling. This announcement will be released when available.
The operator recommended the location to drill DDH-4 that is 34 kilometers south of DDH-2 and 16 kilometers north of DDH-3. The casing was left in DDH-3 that may later be drilled to depth. The location of DDH-3 and DDH-4 were recommended as historic and current evidence of hydrothermal activity are evident and is often a source of lithium in the Lithium Triangle Countries Argentina and Chile.
Doug Fulcher, President and CEO noted "If the results warrant, Our Company is looking forward to resume drilling in the first quarter of 2022".
The Company also announces that is has granted incentive stock options to two consultants of the Company to purchase up to an aggregate of 1,100,000 common shares of the Company (the "Options"). The Options are exercisable on or before October 01, 2023, at a price $0.095 per common share vesting from time to time. All Options were granted in accordance with the Company's Stock Option Plan.
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 and development company focused on lithium in brine projects and new lithium separation technologies. It currently has earned a 60% property interest in the Salar del Diablo property. On completing the southern 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.