Opawica Files for Drill Permits on its Arrowhead Property in the Abitibi Gold Belt
Vancouver, October 24th, 2024 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") Opawica Explorations Inc. has commenced the drill permitting process on its recently identified 25 high-property gold targets at the Arrowhead Property of the Abitibi gold camp. The application includes 25 drill pad locations with short-range spacing, allowing the Company to move forward quickly on any one of the targets once permitting is received. "We look forward to embarking on an aggressive drill program on the Arrowhead Property once permitting has been granted," said CEO Blake Morgan. "We are eager to unlock the potential of this highly prospective property and build on the rich mining history of the region. With millions of dollars spent on exploration since 2021. The team feels this drill program could be a game changer for the company, we have such a wealth of data, and our understanding of the structure is much more advanced."
The 25 drill targets were done in collaboration with ALS GoldSpot Discoveries Ltd. and Opawica. The team integrated various drillhole recent and legacy datasets, including geological, structural, alteration, mineralogical, geochemical, and 2D seismic data information which have provided a deeper insight into Arrowhead 's geology. The interpretation of this updated drillhole database led to a cohesive 3D model/geological model, fault network, and ore body model which has provided the foundation for a drilling exploration strategy at Arrowhead Property.
One of the most prolific gold mining regions of the Cadillac Fault lies immediately east of the Arrowhead Project. Most ore bodies* in the area plunge steeply to the west and may serve as a guide for deep exploration below known showings and gold deposits situated along and around the Cadillac Fault. The Arrowhead Project lies in Blake River Group metavolcanites similar to those of large gold mines to the east, such as Mouska (7.9 km)*, MicMac (9.0 km)*, Mooshla (10.0 km)* and Doyon (11.3 km)*.
First prospecting started in 1920 on the major shear zone located in the northern part of the property. In 1926 the exploration works consisted prospecting, pitting, trenching and diamond drilling, mainly to test two shear zones containing quartz-carbonate veins with free gold. Gold values of up to 45.05 g/t were obtained over appreciable widths.
M. Yvan Bussieres, P.Eng., 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 the Abitibi greenstone belt. 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. 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.
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